Kazakhstan intends to adopt law on farmland private ownership

Kazakhstan's president Nursultan Nazarbayev hopes that before the end of the year the country will adopt a law introducing private ownership of farmland, he said to journalists on Thursday while visiting a farm in the Alma Ata region.

The government will send the corresponding bill to the parliament in September, he said.

The bill envisages three types of farmland ownership, direct buy-out, buy-out in installments within 10 years with the first payment equaling 10 per cent of the land cost, and rent, the president pointed out.

Kazakhstan owns about 270 million hectares of land, 90 million are farmland.