Promising Economic Development Zones in DPRK

According to the Korean Central News Agency “A work has been pushed forward in the DPRK to set up economic development zone (EDZ) in every province of the country.

In this regard, Yun Yong Sok (on the attached picture), vice-director-general of the General Bureau for State Economic Development of the Ministry of Foreign Trade, told KCNA:

The DPRK government decided to set up EDZ in every province and municipality conducive to improving its people’s standard of living, developing the national economy and boosting the economic exchange with foreign countries.

Some areas in Unjong District of Pyongyang City, Sinuiju City of North Phyongan Province and Kangryong County of South Hwanghae Province have already announced to be high-tech development park, international economic zone and international green model zone.

EDZs will take their shapes in Chongjin City of North Hamgyong Province, Hyesan City of Ryanggang Province, Manpho City of Jagang Province and Sinuiju City of North Phyongan Province and industrial development zones in Hamhung City of South Hamgyong Province, Wonsan City of Kangwon Province, Wiwon County of Jagang Province and Chongnam District of South Phyongan Province.

Some areas in Orang County of North Hamgyong Province, Pukchong County of South Hamgyong Province and Sukchon County of South Phyongan Province will be turned into agricultural development zones and some areas in Songrim City of North Hwanghae Province and Waudo District of Nampho City into export processing zones.

On the other hand, Chongsu tourist development zone opened recently while other tourist zones will be set up in Onsong County of North Hamgyong Province and Sinphyong County of North Hwanghae Province.

All those development projects would be carried out by means of establishing joint venture with foreign companies or individual investors or setting up separate enterprises.

Foreign companies and individuals can invest in any development zones they hope for.

Now those zones in the DPRK are drawing great attention of governments and investors of Asian and European countries”.

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