Master development plans [for EDZs] begin to work

According to the Pyongyang Times (2015-1-6):

The development of EDZs (economic development zones) is going full steam ahead in the country after the publication of decrees on the establishment of economic development zones in provinces by the Presidium of the Supreme People’s Assembly on November 21 2013 and July 23 2014.

EDZ is a special economic zone in which preferential treatment is given to economic activities pursuant to the DPRK law on economic development zones.

After the publication of the decrees, provincial people’s committees began to work out master plans for economic development zones and create environment for investment.

As a result, master plans for such development zones have been approved by provincial people’s assemblies including the Amnokgang economic development zone in North Phyongan Province, Manpho economic and Wiwon industrial development zones in Jagang Province, Sinphyong tourism development and Songnim export processing zones in North Hwanghae Province, Hyondong industrial development zone in Kangwon Province, Hungnam industrial and Pukchong agricultural development zones in South Hamgyong Province, Chongjin economic, Orang agricultural and Onsong island tourism development zones in North Hamgyong Province, Hyesan economic development zone in Ryanggang Province, Waudo export processing zone in Nampho City, and Chongnam industrial and Sukchon agricultural development zones in South Phyongan Province.

Master plans for other development zones are being worked out at the final stage.

With master development plans approved, provincial people’s committees are now working to attract more foreign investors and developing businesses to cooperate with their projects.

In October last year the Russian minister of Development of Far East visited the Chongjin EDZ together with Russian businesspersons to check the state of development and discuss matters of investment and development with officials concerned of the North Hamgyong Provincial People’s Committee.

Cooperation is being stepped up with Chinese businesses in the Onsong island tourism development zone in the wake of the opening ceremony of tourism in the Chongsu tourism development zone in Sakju County, North Phyongan Province in October last year.

Governments of some Southeast Asian nations are showing particular interest in the investment in the Sukchon agricultural development zone in South Phyongan Province.

Preparations are expected to be made for receiving investment in the development zones and the EDZs offer preferential treatment to developing businesses and investors with independence in management.

Management agencies are being set up in EDZs, experts needed for the development of these areas trained in universities in Pyongyang and provinces and technical personnel dispatched to other countries for practice.

Brisk activities for the development of EDZs in provinces across the country are attracting growing interest of experts and investors in many countries of the world, especially Asia-Pacific and Southeast Asian nations.

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