The Democratic People’s Republic of Korea (DPRK) has designated the special economic zone in Rason, a city in the northeast of the country close to its borders with Russia and China, as a “special municipality”, reported the country’s official news agency KCNA on January 5.
The decision was made in a decree announced by the Presidium of the Supreme People's Assembly, the DPRK’s parliamentary policy committee, according to KCNA.
Observers believe that the move is aimed at spurring the city’s development and turning it into a gateway for trading with China and Russia as well as increasing foreign investment.
The country’s leader Kim Jong Il, during his first visit to the city last month since the Rason special economic zone was created in 1991, instructed Rason to urgently boost its trading activities.
The DPRK and Russia recently agreed to upgrade a cross-border railway link and improve the infrastructure of Rason’s port.
China has already taken advantage of the city’s many investment opportunities./.
The decision was made in a decree announced by the Presidium of the Supreme People's Assembly, the DPRK’s parliamentary policy committee, according to KCNA.
Observers believe that the move is aimed at spurring the city’s development and turning it into a gateway for trading with China and Russia as well as increasing foreign investment.
The country’s leader Kim Jong Il, during his first visit to the city last month since the Rason special economic zone was created in 1991, instructed Rason to urgently boost its trading activities.
The DPRK and Russia recently agreed to upgrade a cross-border railway link and improve the infrastructure of Rason’s port.
China has already taken advantage of the city’s many investment opportunities./.
