The Kazakh parliament's lower chamber has approved the bill banning the purchase and rental of farmland by foreigners in the Central Asian nation ahead of the expiration of a moratorium on land sales this summer.
Current agreements on farmlands rented by some foreign companies or joint ventures with foreign capital will expire in the 2022-2025 period and will not be extended.
The move comes after President Kasym-Zhomart Tokaev proposed the ban in late-February.
The five-year moratorium on selling and leasing Kazakh agricultural land to foreigners was introduced in 2016 after thousands demonstrated in unprecedented rallies across the tightly-controlled nation, protesting the government’s plan to attract foreign investment into the agriculture sector by opening up the market.
Ban on foreign ownership of farmland imposed in Kazakhstan
9035 views
