Minister Mylovanov: Shadow land circulation in Ukraine reaches 10 billion

Minister Mylovanov: Shadow land circulation in Ukraine reaches 10 billion

Ukrinform
Shadow circulation of agricultural land in Ukraine now reaches UAH 10 billion.

“The shadow circulation of agricultural land hinders country’s development. Its size now reaches UAH 10 billion!" Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovanov posted on Facebook.

He informed that the bill on land reform would be considered in the Verkhovna Rada on November 13.

“Land reform is not about lifting the moratorium. These are complex changes in the system of land relations which consist of different components. Deregulation, counteraction to illegal takeover, transparency, protection of landowner rights, financial support,” the official emphasized.

According to him, the changes are already underway. The inventory of all land and cultivated crops was made through satellite observations. This should prevent dishonest businesspersons from not paying taxes or cultivating the land plots they had encroached on.

He also recalled that the draft law on the opening of land market provides for a transitional period until January 1, 2024, during which legal entities with foreign beneficiaries will not be able to buy land. The ministry now elaborates an ultimate owner monitoring system so that land cannot be bought through a figurehead.

The land circulation reform will give impetus to economic development and launch investment in the villages and processing industry, Mylovanov summed up.

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