Archive for the ‘South Hamgyong Provincial Pukchong agricultural development zone’ Category

Master development plans [for EDZs] begin to work

Tuesday, January 6th, 2015

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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The aim of North Korea’s economic development zone: Regional balanced development and improvement of people’s livelihoods

Friday, December 6th, 2013

Institute for Far Eastern Studies (IFES)
2013-12-06

North Korea is pushing ambitious development of local economic development zones, purportedly with the aim of promoting balanced development of the local economy and improving the lives of ordinary people.

On November 29, 2013, the Choson Sinbo, a pro-North Korean newspaper based in Japan, reported details of North Korea’s proposed 13 economic development zones (EDZs) by province, including the characteristics of the plans, goals, and outlook. It specified that the main objectives of this project are to promote a “balanced local economy development and improve the lives of residents.”

To enhance the effectiveness of the EDZs, each region’s characteristics were incorporated into the development strategy.

The existing Rason and the Hwanggumpyong Special Economic Zones are comprehensive and large in scale, covering production and processing, transport, commerce, and tourism sectors. The local-level EDZs, on the other hand, reflect each area’s local economy and culture and more narrowly focus on local industries.

For example, the EDZ slated for Pukchong in South Hamgyong Province is an agricultural zone; Onsong in North Hamgyong Province is for island tourism; and Waudo in Nampo City is an export processing zone. He one reflects its region’s characteristics.

The (North) Korean Association of Economic Development Director Yun Yong Sok, who is in charge of attracting investment from foreign companies, said, “By integrating the unique features of each region, it can benefit the local economy through acquiring necessary technology for the development and also earn foreign currency contributable to improving the lives of the people.”

He also said that “The goods produced in the EDZs will be exported to other countries but at the same time will be able to meet domestic demand,” and “the development of EDZs will center on the border areas adjacent to China and Russia.”

In addition, each province was encouraged to develop plans according to the region’s environment and apply to the People’s Committee in each province. Plans were then sent to the State Economic Development Commission for in-depth deliberations.

North Korea has upgraded the State Economic Development Commission (from its previous designation as the State Economic Development Board) in October 2013 to become a direct mechanism under the Cabinet that oversees the establishment and management of EDZs.

This commission is responsible for developing national strategies relevant to special economic zones such as selection process of provincial EDZ establishment, preparation to state evaluation, modification and supplementation of laws and regulations, and the entire process for implementation.

As predicted by Ri Sun Chol, International Economic Relations Research Director at the Economic Institute in the Academy of Social Sciences, “Once the economic development zones are established in each province, it will greatly expand the breadth of the foreign economic cooperation and will provide a fundamental opportunity to invigorate investment activities.”

The Choson Sinbo reported that while some might take a pessimistic outlook on the new EDZs, the new project is attracting interests from various countries such as Hong Kong and Singapore, and the local and central governments are working closely to promote this project.

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