N.Korea aims to turn Rason into NE Asia leading trade center

PYONGYANG (Itar-Tass) - The Democratic People's Republic of
Korea (DPRK) expects to turn the Rason free economic area (RFEA) into
Northeast Asia's leading trading center, the head of the Rason city
people's commitee has told journalists, the Korean Central News Agency
reports on Wednesday. He said all the necessary conditions are being
created in the RFEA for the development of tourism.
Foreign investors and entrepreneurs have an opportunity to engage in
various economic and trading activities there, "making use of capital
investment forms beneficial to them". "In the DPRK, foreign investments,
the incomes and rights of foreign companies are protected by law," the
committee leader said.
In January last year, theDPRK's first Free Economic Area Rason was
granted the status of a "special city". A respective decree was adopted by
the Presidium of the Supreme People's Assembly of the Republic.
Rason (an abbreviation of Rajing-Sonbong) is located in the DPRK's
north-east and borders with the Chinese Province of Jilin, as well as with
Russia's Primorsky (maritime) Territory. The people's republic's first
free economic area was established there in1991. Following that, the DPRK
leadership launched large-scale activities to attract foreign companies,
including those from China, Russia, and South Korea, for operation there.
One of measures to atrract them was the abrogation of income tax and
customs duties for them in the area for three years.