State Duma Votes to Allow Sale of Farmland
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From Times Wire Reports
RUSSIA
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Russia’s lower house of parliament passed a bill that would allow the sale of farmland for the first time since 1917 but would let foreigners lease, not buy it.
The long-awaited reform is now almost certain to become law. Analysts said it will invite investment in one of the most backward sectors of the economy.
The farmland in the world’s largest country is estimated to be worth at least $80 trillion. Much of it is controlled by debt-laden collective farms.
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