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State Land Committee Advocates Lifting Restrictions On Sales Of Non-Farmland To Foreign Investors

03.06.2008

The State Committee for Land Resources advocates lifting of restrictions on the sale of non-farmland to foreign investors.

Chairman Volodymyr Voevodin gave the position of the state committee in an interview with the Biznes weekly.

"We are planning to introduce amendments to article 82 of the Land Code. The amendments, for example, extend a circle of persons allowed to purchase land plots," he said.

He specified that land plots would be allocated not only for business activities.

He said foreign investors would need no consent from the Cabinet of Ministers to take part in land auctions, if the amendments to article 82 are introduced.

As Ukrainian News earlier reported, early in the year, Economy Minister Bohdan Danylyshyn said it was necessary to allocate land to foreign investment to improve the investment environment in the country.

Prime Minister Yulia Tymoshenko has promised to investors the government would cut the term of allocation of non-farmland from 3-4 years to 3-4 months.

source:


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