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Moratorium on Land Sales will not be Extended

Published: September 26, 2013 | 2:37 pm
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It has become known that the moratorium on the sale of agricultural lands to foreign nationals will not be extended. The Prime Minister Bidzina Ivanishvili has made a statement in this regard at a recent meeting with experts. The issue was raised in form of a question from one of the experts, as to how the moratorium fit in with the government’s attempts to attract foreign investment. According to Mr. Ivanishvili, he met with the members of his economic team and came to the decision that the moratorium will not be extended, as restrictions affect the freedom of the market. The Parliament recently passed a legislation barring foreign nationals, legal entities registered abroad, as well as legal entities registered in Georgia by foreign nationals, from purchasing land plots designated for agricultural use until 31 December 2014.

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