Security of investment in DPRK guaranteed by law

UPDATE: KCNA Video here (Youtube)

ORIGINAL POST: According to KCNA:

The DPRK encourages foreigners to make investments in the country on the principle of equality and reciprocity and neither nationalizes nor seize their invested properties, said an official of the DPRK Committee of Investment and Joint Ventures.

In an interview with KCNA, Ri Song Hyok said the DPRK law on foreign investment stipulates the principles and order for protecting the investment of foreigners and ensuring legitimate rights and interests of foreign-invested businesses.

“The law gives a full detail of the requirements of the DPRK’s investment policy, foreign investment forms and methods, investors’ business conditions, investment sectors, incentive measures and preferential treatment in the Rason economic and trade zone,” he said.

According to the principles and order stipulated by the law, regulations have been provided on investment, joint venture, foreign business, foreign-invested business, taxation for foreigners, foreign-invested bank, land lease and Rason economic and trade zone, he added.

The law on foreign investment was adopted in the country on October 5, Juche 81 (1992) and revised in 1999 and 2004.

Well if they say they won’t nationalize or seize invested properties….

The DPRK’s law on foreign investment can be found here.

It is also interesting that KCNA uses the American spelling of “nationalize” rather than the British spelling of “nationalise”┬ásince there have been far more British English teachers in the DPRK than American.

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  • Gag Halfrunt

    KCNA’s English translators probably use the standard US version of Microsoft Word, whose spell check would treat British spellings as mistakes. Their website staff are certainly Microsoft-oriented, because when the new KCNA website was launched it only worked properly in Internet Explorer.

  • Good point. Thanks.

  • James

    There are english versions of the complete foreign investment law that can be purchased at the main book store in Pyongyang. The first one I purchased in 2003 was about a small book about a quarter inch thick. The last one I got in 2008 was about an inch thick.


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