Little interest in North Korea special economic zones

Chinese and North Korean officials pitched mainland businesses on investing in North Korea’s two special economic zones but failed to draw much interest at an event in Beijing on Wednesday, Reuters reported. The joint development zones are located in Rason, in eastern North Korea, and Hwanggumphyong in the country’s west. “If there’s a problem with the environment, there’s no way people are going to commit money,” said Li Guilian, chairwoman of Dalian-based clothing company Dayang Trands, at the event. The presentation highlighted the attractions of the zones, including low taxes and visa free access. The zones are part of North Korean leader Kim Jong-Un’s pledge to make the country prosperous after a lean 17 years under his father. North Korea, facing tough international sanctions in response to its nuclear program, relies on China for funding and many basic supplies.