Participation of legal entities in the agricultural land turnover and timely realizing of the referendum on participation of foreigners will determine the ultimate success of the land reform and its influence on the Ukrainian economy, declared the Regional Manager on Belarus, Moldova and Ukraine at International Finance Corporation (IFC), Jason Pellmar.
IFC is the member of the World Bank Group. IFC welcomes the adoption of the law on land turnover by the Ukrainian parliament. It is the important step towards unlocking of significant investments in the agricultural sector, increasing of agricultural production with higher added value, and facilitating the access of agrarians to finance. However, there is a need to adopt additional legislative acts to ensure transparency and efficiency of the land market, J.Pellmar said.
According to him, it is realization of participation of legal entities in the land turnover to enhance the competition rates, ease restrictions on the volumes of land for purchase and conducting the referendum on participation of foreigners in the timely manner, will determine the ultimate success of reforms and its impact on the economy of Ukraine.