Ban on foreign ownership of farmland imposed in Kazakhstan
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.