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Investment environment in Rason Economic and Trade Zone
Nature and geography
Natural resources and infrastructures
Legal groundwork and economy
Finance, education and culture
Investment Projects
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Management Committee of Rason Economic and Trade Zone |
Investment environment in Rason Economic and Trade Zone
>> Legal groundwork and economy
The Zone was set up according to Decision No. 74 of the Administration Council of the DPRK on December 28, Juche 80 (1991).
On January 4, 2010, it was raised to the status of a special municipality of the DPRK, in which a policy of economic preferential treatment is in force.
The DPRK Law on the Rason Economic and Trade Zone was adopted by Decision No. 28 of the Standing Committee of the Supreme People’s Assembly on January 31, Juche 82 (1993). According to Decree No. 2007 of the Presidium of the Supreme People’s Assembly on December 3, Juche 100 (2011), the law was revised and supplemented.
As a result, the legal environment for the Zone has been created.
In the Zone there are over 150 local businesses engaged in metal processing, and production of foodstuff, seafood, garments, footwear and furniture and timber processing.
Their products are winning popularity in international markets.
Typical of them are Rason Taehung Trading Company, Suchaebong Fishery Enterprise, Rason Haeyang Processing Trading Company, Rason Mushroom Plant, Sonbong Greenhouse Farm, Sonbong Garment Factory, Rason Youth Power Plant and Rason Furniture Plant.
As of November 2015, there are 150 foreign-invested businesses in the Zone from China, Russia, the US, Italy, Thailand, Australia and Japan: 4 contractual joint ventures, 30 equity joint ventures, 103 wholly foreign-owned enterprises and 13 representative offices of foreign enterprises.
As of November 2015, the total foreign investment in the Zone amounts to about US$ 500 million.
Typical enterprises are: Northeast Asia Communications Company (contractual joint venture), Rason International Co., Ltd. (equity joint venture), Samdaesong Company (equity joint venture), Big Start-Profits (Rason) Co., Ltd., Rason Grocery Plant, Rason Sinhung Tobacco Company, Rason Clean Energy Company, etc.
     
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