October 17, 2019
KCNA DPRK Today (En)

DPRK Extends Economic Development Zones

Date: 28/09/2019 | Source: DPRK Today (En) | Read original version at source

Pyongyang, September 27 (KCNA) -- The Democratic People's Republic of Korea is directing efforts to the establishment of economic development zones (EDZ) where special privileges for business activities are guaranteed.

In this regard, Kim Hyon Chol, head of an office of the Korea Economic Development Association, told KCNA:

The DPRK government decided to set up 13 EDZs for the first time in some areas of eight provinces (municipality) in November Juche 102 (2013) so as to promote the development of the national economy and the improvement of people's livelihood as well as the economic exchange with other countries.

Later, some areas in Unjong District of Pyongyang City, Samjiyon County of Ryanggang Province, Sinuiju City of North Phyongan Province and Kangryong County of South Hwanghae Province were defined as high-tech development park, special zone for international tour, international economic zone and international green model zone.

As of now, 20-odd EDZs came into being across the country including economic, industrial and agricultural development zones and an export processing zone.

The DPRK government took measures to offer special privileges in land use, tax payment, etc. to enterprises and investors that hope to invest in infrastructure construction at EDZs and to produce high-tech products and goods with a competitive edge.

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