President of Ukraine Volodimir Zelensky signed the law to introduce the land market in the country. This reported his press service. The document will become effective on July 1, 2021, RBC Ukraine noted.
The president’s office said in a statement that the law will ensure the full realization of private ownership of agricultural land for Ukrainians and will significantly expand investment opportunities in the agricultural sector.
Volodimir Zelensky called the new law “a historic moment for all Ukrainians.” Changes were among his campaign promises.
The Verkhovna Rada of Ukraine adopted the bill on agricultural land circulation at the end of March. Most of the votes, 206, were secured by the pro-presidential faction, Servant of People. Representatives of the European Solidarity factions Petro Poroshenko and Golos also voted for the document. Against voted the faction “Opposition platform – For life” and “Fatherland” Yulia Tymoshenko’s faction.
“By adopting this law, the deputies committed a crime against Ukraine. This law will help the authorities to deprive the current and subsequent generations of Ukrainians of the right not only to their chernozems but also to their country. That is why the” Fatherland “counteracted and will counteract this in the future,” emphasized, in particular, Tymoshenko.
The bill consideration by deputies was accompanied by massive street protests and clashes in the Rada itself.
The first two years, according to the document, only individuals can buy land – citizens of Ukraine and no more than 100 hectares in one hand. Subsequently, Ukrainian legal entities will receive the right to purchase – no more than 10 thousand hectares. State and communal property lands will not be sold.
Foreigners will be allowed to purchase farmland only if the majority of Ukrainians vote for it at the popular referendum that will be held later.
Opening the land market in the country was supported, in particular, by the International Monetary Fund, calling it an important step on the path to reform. In the “Servant of People” they stated that the document adoption “will free from serfdom 7 million Ukrainians who own their land.”
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