November 11, 2019 / 11:24 AM / a month ago

Ukraine president: foreign ownership of farmland to be decided in referendum

FILE PHOTO: Ukraine's President Volodymyr Zelenskiy listens during a news conference in Riga, Latvia October 16, 2019. REUTERS/Ints Kalnins

KIEV (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Monday that parliament would amend the law to stipulate that the issue of whether foreigners will be allowed to buy farmland would be put to a referendum.

Zelenskiy has pledged to lift a longstanding ban on the sale of farmland, a move that supporters say will unlock enormous opportunities for investment in the agriculture sector of one of the world’s largest grain exporters.

There has been resistance to lifting the ban, in part because of fears that land would be snapped up by foreign companies.

Reporting by Natalia Zinets; writing by Matthias Williams; Editing by Alex Richardson

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