Fair rules of the game and a public-private partnership are vital to creating a favorable environment for business and economic development. This was stated by Prime Minister of Ukraine Denys Shmyhal during a regular Government session on June 16.

The Prime Minister stressed that the creation of new competitive markets and the development of market relations are fundamental steps towards building an economy without oligarchic influence. Therefore, according to the PM, one of the most important reforms on this path is the launch of the land market.

"There are two weeks left till the lift of the moratorium. And in these two weeks, Ukraine will be one step closer to successful countries where citizens can freely dispose of their property. The Verkhovna Rada and the Government have introduced many safeguards against illegal actions. Only Ukrainian individuals with a size of no more than 100 hectares will be able to buy land. Everything should be transparent. All payments are in cashless form only. Financial monitoring will be carried out," Denys Shmyhal said.

During the meeting, the Government approved the Procedure for verifying the compliance of the purchaser or owner of agricultural land with the requirements set forth in Article 130 of the Land Code of Ukraine.

"The inspection will take place in several registers to ensure the transparency and fairness of the process," the PM said.

The Head of Government also reminded that the gas market had been fully operational since mid-2020 and added that one of the important elements of market development is the successful implementation of projects in the field of gas production - production sharing agreements.

"At the end of last year, eight product sharing agreements were signed with leading companies. This was an extremely important step towards energy independence. Our goal is to provide the most comfortable and transparent conditions for future investors," Denys Shmyhal underscored.

Thus, the Cabinet of Ministers approved the proposals of the Interdepartmental Commission and investors to extend the term of concluding agreements on the distribution of hydrocarbons, which will be extracted within the three sites.