KCNA: Business success in store for foreign investors

According to the article:

A project to set up economic development parks has been steadily pushed forward in different parts of the DPRK, drawing attention of many foreign investors, says Ri Sun Hak, a department director of the Ministry of External Economic Relations.

He said the DPRK government has made all its efforts to create a legal environment favorable for the rights and interests of foreign investors.

The government encourages them to invest in the country on the principle of equality and mutual benefits, he said, and continued:

A series of laws on foreign investment, including the DPRK Law on Foreign Investment and the Law on Economic Development Parks, has been newly enacted, amended and supplemented to provide foreign investors with legal guarantee.

The DPRK government has already made the agreement on promotion and protection of mutual investment with 28 countries and agreement on prevention of double taxation with 13 countries in Asia, Africa and Europe.

Rules and detailed regulations have been adopted one after another to introduce internationally recognized investment formulas in keeping with the actual circumstances of the country.

Now the DPRK government has been carried forward the cooperation with Russian companies in the fields of railway transportation and harbor express service, while establishing economic development parks and paying deep attention to different projects of cooperation with other countries in the field of investment.

Tourism is also gaining momentum with the development of Wonsan-Mt. Kumgang and Mt. Chilbo areas into fashionable tourist attractions.

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