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Yanukovych vows to declare temporary moratorium on sale of land to foreigners

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June 15, 2011, 3:43 p.m. | Business — by Interfax-Ukraine

Viktor Yanukovych vows to declare temporary moratorium on sale of land to foreigners.

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Vinnytsia, June 15 (Interfax-Ukraine) – The first stage of land reform in Ukraine is aimed at establishing a fair price for the lease of land, rather than its sale, Ukrainian President Viktor Yanukovych has said. "Yesterday, we actually agreed a strategy and project for land reform... This reform will enable the owners of land plots – and their number is about 6.5 million - to get a fair price for the lease of land, and eventually they, if they wish, they will have a chance to sell [land] under certain conditions, as soon as these conditions are worked out," he said in Vinnytsia region on Wednesday.

Yanukovych said that a temporary moratorium would be imposed on the sale of land to foreigners.

"We'll see for how long [the moratorium will be imposed]," he said.
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Anonymous June 15, 2011, 5:21 p.m.    

I do wish they would state what type of land and how much. I have what was crop land attached to our house. We were told it was under 2 hectares so we could buy it, after buying it we were told we could not have crop land at all. We are now near the end of having it registered as building land. I just wish things could be made clear on what we can and can't do.

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Anonymous June 15, 2011, 5:38 p.m.    

Errr..this is Ukraine, when was anything ever clear to understand?

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Anonymous June 15, 2011, 6:06 p.m.    

I assume that the moratorium on foreign buying will last just long enough for the Donetsk Clan to buy up all the land at bargain prices. Then the foreigners will be able to buy from them at very high prices.

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Anonymous June 16, 2011, 3:36 a.m.    

That is exactly what they will do. It is so obvious!!! They make it sound like they are trying to protect Ukrainian interests, but is exactly the opposite.

People of Ukraine, wake up!!!!!

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Anonymous June 15, 2011, 11:46 p.m.    

Foreigners should only be allowed to lease land, never to buy Ukrainian land, in addition, the amount of land an individual or company can OWN should also be LIMITED, so that Ukrainians will always have the possibility to own their own land.

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Anonymous June 16, 2011, 8:27 p.m.    

The lack of logic is obvious. Would you invest in buildings, equipment if you could not have ownership to the property you invested in?

Would any bank be able to lend you money on rented land, and not as an asset for te loan?

You can argue whether foreigners should own land in Ukraine or not, but as long as the Oligarchs have no interest in developing the land, but only invest for future sales, then this is totally wrong and will not serve Ukraine's potential for agri product export, which they have lots of if they modernize their agribusiness, however, again, no one will invest in constly equipment and constructions on rented land..

Put condititions on sale of land, Ukrainians and foreigners as well. They should cultivate the land within the first 18 months otherwise the land will be taken back or at least a penalty fee pr hectar should be paid, and i do not talk about 50 USD pr hectar, rather 5000 USD pr hectar if not performed according to agreement.

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Anonymous June 16, 2011, 4:20 a.m.    

Sell land to foreigners?...that's ridiculous. You should be able to lease it....but never outrite own it....not if you're a foreigner.

The only owners can be Ukes. And even that has to be monitored closely so that unscrupulous Uke investors don't manipulate the process. And all the Ukr political parties have all kinds of shady

mafioso types within their ranks.

Yanuk is pretty sly....and could do anything to the detriment of the country.

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Anonymous June 16, 2011, 8:31 p.m.    

The argument does not fit the reality given you also mention the unscrupulus Ukrainian investors, which only grab land for investment and not have in their mind of develop it for the purpose it was ment for.

Give them a penalty fee if not developed after 18 months, 5000 USD pr hectar pr 6 months, then we will see if they are so interested in the land, unlesee the politicians opens for sale of same land to foreigners within 18 months that is.

Sell to the party that is interested in developing the land and create export products and domestic products as well as work for the Ukrainians, with decent salaries and with some safety to the work.

Does it matter who owns it, unless its used for its purpose and investments done to ensure efficiency and modern technology used so the land does not get destroyed or just lie there idle?

Sure, regulations for foreign ownership must be in place, with sanction options and buy back rights for national security if that is needed. But, see what i say, buy back, not take back, there is a difference.

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Anonymous June 16, 2011, 8:34 p.m.    

We can also mention the unscrupulus politicians selling land for spot price or give away prices to Ukrainians with no other purpose to convert agri land to building land so they can take a huge profit on housing development for both private and company interests.

Sort out your corrupt and scandalous political leadership and ensure land sale can become legit again in Ukraine. Banks such as Ukrsibbank for example does not involve themselves in land deals or agricultural projects just for the reason, its the most corrupt section in the otherwise so corrupt Ukraine.

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