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Responsible Land-Based Investment in Ukraine: International Regulatory Practice

Author

Listed:
  • Sergii Borodin

    (Federation of Auditors, Accountants and Finansiers of AIC of Ukraine, Kyiv, Ukraine)

Abstract

In 2021, a free agricultural land market was opened in Ukraine. So, an increase in investments in the acquisition of agricultural land in Ukraine is expected, which actualizes social problems, particularly guaranteeing the rights of peasants, small producers and small farmers, vulnerable groups of the population, women, and rural youth to own and use land. The risks of land investments for the Ukrainian economy are associated with the loss of a small landowner, the displacement of the farming system, an increase in rural unemployment, violation of the rights of rural communities, and the destruction of the rural living environment. The purpose of the study is to substantiate recommendations for Ukraine based on an analysis of international experience in regulating the processes of attracting responsible land investment and highlighting the basic principles of responsible investment in agriculture and food systems. The main international documents on responsible investments in the implementation of large-scale land projects were analyzed. It has been established that foreign investment in land tenure and land use in Ukraine is associated with high demand due to the availability of supply of agricultural land and the opening of a land sale and purchase market, the transformation of natural resources into commercial assets, a corruption component, and uncertainty with the value of the land. The necessity of the following steps has been substantiated: ) development of recommendations for responsible investment in land tenure and land use; b) introduction of the concept of "responsible land investment" into the national legislative field; c) development of a system for regulating investment activity based on international standards. The author suggested recognizing family farmers, small owners, and small producers, especially women, rural youth, rural residents, as the main responsible investors in the field of land use in Ukraine.

Suggested Citation

  • Sergii Borodin, 2021. "Responsible Land-Based Investment in Ukraine: International Regulatory Practice," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 62-70, December.
    • Handle: RePEc:iaf:journl:y:2021:i:4:p:62-70
    DOI: 10.33146/2307-9878-2021-4(94)-62-70
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    References listed on IDEAS

    as
    1. Marc Edelman & Carlos Oya & Saturnino M Borras, 2013. "Global Land Grabs: historical processes, theoretical and methodological implications and current trajectories," Third World Quarterly, Taylor & Francis Journals, vol. 34(9), pages 1517-1531, October.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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