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The Democratic People's Republic of Korea (DPRK) said Wednesday it would establish special economic zones open to investment from "any country."
Ri Chol Sik, deputy head of the Korea Economic Development Association (KEDA), told the first international conference on Special Economic Zone (SEZ) development here that the DPRK was preparing to open many SEZs at provincial level, with legal protection and preferential policy already set up.
"Policies and regulatory environment and their implementation are critical to the success of SEZs," said Bradley Babson, chair of the DPRK Economic Forum at the U.S.-Korea Institute at John Hopkins School of Advanced International Studies.
A DPRK professor with Kim IL Sung University told Xinhua the seminar was "a great opportunity for our people to learn from other countries' successful experience on SEZs."
The seminar, sponsored by KEDA and co-hosted by Park Kyung Ae, director of the Canada-DPRK Knowledge Partnership Program (KPP) at the University of British Columbia, Canada, was attended by DPRK scholars and officials and dozens of foreign economic specialists from countries such as the United States, Canada, China, Vietnam, India, and Malaysia.
Park told Xinhua it was a chance to exchange ideas and promote cooperation between DPRK and the outside world. She has been engaging for years in a KPP academic exchange program, which sends DPRK professors to study and do research in Canada.
KEDA, a newly formed non-government organization, aims to support activities by foreign businesses and scholars interested in the country's special zones, said KCNA, DPRK's official news agency.
The non-governmental association, the first of its kind in DPRK, arranges meetings, supports business activities and offers information and consulting to prospective investors.
Also on Wednesday, the National Economic Development General Bureau was renamed the National Economic Development Committee, KCNA said.
