Bill on the land market approved by the Government

The Cabinet of Ministers of Ukraine (the Government) has approved the draft law on the farmland market and will submit it to the Verkhovna Rada (the Parliament) on September 25th. This was announced by Ukrainian Prime Minister Oleksiy Honcharuk during a briefing on the results of the Government meeting, AgroPolit.com reports.

The first reading of the law by the Verkhovna Rada of Ukraine is scheduled for mid-October.

Oleksiy Honcharuk noted that that was a big project, a big reform, the Government and the Parliament had to work together.

"The bill we are presenting to the Parliament today is just the first bill in a big package. Its logic is simple — Ukrainian land can be bought by Ukrainian citizens and companies. This is an absolute principle," Prime Minister added.

He specified that the bill proposed the land to be inherited by a foreigner if it had been owned by a Ukrainian.

As a reminder, Oleksiy Honcharuk stated that the sale of farmland would be realized through public transparent auction with the primary right of redemption by those who worked on the land.