Bakhmatyuk: Opening the Land Market Marks Transition from Soviet Mentality to a Normal Economic Model

This opinion was expressed in an interview with the GORDON online media outlet by Ukrainian businessman and founder of the Ukrlandfarming agricultural holding company Oleg Bakhmatyuk.

"This is (the land market — ed.) a transition from the Soviet mentality to a normal economic model. That's all. So that you clearly understand: I, a person, a leaseholder, do not benefit from the land market… We are unfairly called latifundists… Despite the amount of land you own, you are not an owner — you are a leaseholder. This is a constant political process. I rent land in 600 settlements. Those are 600 village councils… I have almost 300 people — those are politicians, I work with agents, people of influence, those are local government leaders… This is an ongoing process. And this is normal. In principle, all over the world, land owners are mainly pension funds, because they need solid collateral. Because they think in terms of 100 years and they believe that land is an asset that does not depreciate. For them, a yield of 1-2% per annum is more than enough. The main thing for them is to save money. In Ukraine, I think they will come to this sooner or later," Bakhmatyuk said.

He emphasised that many landowners in Ukraine, despite their desire, have not been able to sell their land.

To recap, Oleg Bakhmatyuk supported de-oligarchisation in Ukraine.