North Korea invites investments for special economic zones

Pyongyang, Oct 17 (IANS) North Korea said Wednesday that it would establish special economic zones (SEZs) open to investment from "any country", Xinhua reported.

Ri Chol Sik, deputy head of the Korea Economic Development Association (KEDA), told a conference on special economic zone development here that his country was preparing to open many SEZs at provincial level, with legal protection and preferential policy already set up.

"Policies and regulatory environment and their implementation are critical to the success of SEZs," said Bradley Babson, chair of the Democratic People's Republic of Korea (DPRK) Economic Forum at the US-Korea Institute at John Hopkins School of Advanced International Studies.

A DPRK professor with Kim IL Sung University said the seminar was "a great opportunity for our people to learn from other countries' successful experience on SEZs".

The seminar was sponsored by KEDA and co-hosted by Park Kyung Ae, director of the Canada-DPRK Knowledge Partnership Programme (KPP) at the University of British Columbia, Canada.

It was attended by experts and economists from countries like the US, Canada, China, Vietnam, India, and Malaysia.

Park said it was a chance to exchange ideas and promote cooperation between DPRK and the outside world. She has been engaging for years in a KPP academic exchange programme, which sends DPRK professors to study and do research in Canada.

KEDA, a non-government organisation, aims to support activities by foreign businesses and scholars interested in the country's special zones, said KCNA, DPRK's official news agency.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

Matches