Sinuiju Zone Development Corporation
Date: 14/03/2019 | Source: Naenara News | Read original version at source
Established in July 2012, the corporation is empowered for the general development in the Sinuiju international economic zone.
It pushes ahead with the work for developing the Sinuiju area into a general economic zone and an international city with hi-tech industry, securities financing, bonded processing trade, tourism, real estate and investment.
Business and management activities in the area are legally ensured by the DPRK Constitution, Law of the DPRK on Economic Development Parks and the government’s policy for economic development to establish economic development parks in provinces in accordance with their actual situation and develop them in a characteristic way.
Regulations and rules for all spheres of development of economic development parks have already been compiled and published, and legal environment favourable for investment and business establishment and management created.
A border area by the Amnok River between Korea and China, the Sinuiju international economic zone is situated in a favourable place as it is linked to China, Russia and Japan by Korea-China Amnokgang Bridge which is near completion, an international airport and an international port which is planned to be built in the coastal areas in Cholsan and Yomju counties of North Phyongan Province, and a motorway and a high-speed railroad to be built along the western coastal area. It also has abundant water resources as the Amnok flows by it.
As it also is rich in human resources including graduates from universities, colleges and secondary schools and neighbours Imdo, Wihwado and Hwanggumphyong economic development parks, it has bright prospects for investment and development.
The corporation specially encourages investment in the fields of infrastructure construction, top-notch science and technology and production of goods competitive in international market, and plans to see it that foreign investors set up various types of businesses including solely-owned company, and branch or agent office and manage them on their own will.
The corporation warmly welcomes investors who are interested in the international economic zone, and will make sincere efforts to provide every possible condition and convenience for their activities.