Farmland market in Ukraine accessible only for Ukrainian companies and citizens, President Zelenskiy

Only Ukrainian agriproducers and Ukrainian companies will be able to buy and sell agricultural land after the farmland market opening. This was stated by Ukrainian President Volodymyr Zelenskiy within the framework of the conference "Land as a development factor of Ukrainian village" held today in Kyiv.

"First and foremost, the land belongs to the Ukrainians. Only Ukrainian citizens and Ukrainian companies will be able to buy or sell farmland within the model elaborated by the Government," said Volodymyr Zelenskiy.

Prime Minister of Ukraine Oleksiy Honcharuk added that the sale of farmland would be realized through public transparent auction with the primary right of redemption by those who now work on the land.

"We need to make the credit interest rate lower. We are already working on it with the National Bank of Ukraine. I expect that by the next summer the rate will be reduced to 11%," said Oleksiy Honcharuk.

As a reminder, President Volodymyr Zelenskiy specified the terms of land reform implementation for the Verkhovna Rada of Ukraine and the Cabinet of Ministers. The land reform will be implemented in the middle of next year, and the law on the market of agricultural land and the lifting of the moratorium on farmland sale must be submitted to Verkhovna Rada of Ukraine (Parliament) by October 1st, 2019.