Land lease terms for foreigners proposed to be increased in Kazakhstan
Astana, Kazakhstan, June 2
By Daniyar Mukhtarov - Trend:
It was proposed to increase the land lease terms for foreigners or organizations with foreign share, Kazakh Regional Development Minister Bolat Zhamishev told the media following a governmental meeting on June 2.
"As for the land lease terms for foreigners or organizations with a foreign share, it was proposed to increase the lease period from 10 years plus the period of return on investment," he said.
"Moreover, the forced land requisitioning mechanisms, including early termination of the land lease agreement in Kazakhstan were worked out," he said.
"Kazakhstan used Argentina's experience in the process of land rent to foreigners or organizations with a foreign share," he said.
"We worked out the bill's conditions taken from the experience of Argentina and other countries," he added. "That is, we propose to limit the concentration of land use in a particular area. And we believe that it is logical."
"At present, foreigners have 330,000 hectares in land use in Kazakhstan," he said.
"The cost of land rent for foreigners depends on the land quality," he added.
Edited by CN