OREANDA-NEWS. June 04, 2014. Foreigners and organizations with control participation of foreigners will be able to hold land by lease for agricultural purposes for a period exceeding 10 years.

It has been was announced by the Minister of Regional Development of Kazakhstan Bolat Zhamishev at a briefing in Central Communications Service under the President today.

"The term of the lease of land to foreigners, organizations with control participation of foreigners is extended for payback period. That is, now this term is limited to ten years. Currently, foreigners and organizations with control participation of foreigners have 313 hectares of land," B. Zhamishev said.

"With regard to the cost of rent, then these conditions are identified and are currently operating, they depend on the quality of land and any changes in this part are not expected," he added.

B. Zhamishev explained that he is speaking of agricultural land, with no reference to the geographical location.

"Nevertheless, we have worked all conditions in the bill, based on the experience of Argentina, we offer to limit concentration of land in a particular area. Such experience is still exist in many countries, and we believe that this experience is quite logical for our country," the Minister said.