Chinese companies to get North Korea's two Island development rights

Every reporter Xuquizong from Beijing Chinese companies will likely invest 800 million of dollars in the development of investment in North Korea two islands.　　The daily economic news reporter learned yesterday that Chinese companies will likely get a lease of 50-year leases or help North Korea set up special economic zones on Granville Island and gold Screen Island. 22nd, the company has been to Pyongyang to discuss Yonhap February 23 reported that North Korea in order to attract foreign investment, the decision will be located in the border near Liaoning Dandong Island and the gold Screen Island as a free trade zone, to the Chinese enterprises to develop.　　A person familiar with the report said the two islands ' investments were 500 million and 300 million dollars respectively. reported that the participation in the North Korean island development is China Dandong Chinese business overseas Investment Company. 24th, The Daily economic news reporter Telephone link the company learned that the firm's specific partnership with the two islands has not been finalized.　　The company's head of the 22nd delegation to Pyongyang, is currently discussing project development matters. According to the trade office of the Korean Embassy in Beijing, the daily economic news, the North Korean government officials in the adjacent border areas of Dandong, China to establish special Economic Zone program is further refining process.　　At present, the mode of cooperation is set at two kinds: one is to invest in some regions as a whole, and to give supporting policies to establish special economic zones; the other is to lease land, lease for 50 years, the price according to the area of land value calculation.　　The office of Dandong China Merchants Overseas Investment Co., Ltd. said the company will strive to enter the two islands in 2010 to implement development. What is the background of the company in relation to North Korea, and why can it get such an important project? According to the company's relevant sources, Dandong China Merchants Overseas Investment Co., Ltd. is the predecessor of the Chinese Association of Entrepreneurs to the Working Committee and Dandong Korean Peninsula Economic Advisory Service Center, 2005 will be two units, specializing in North Korea investment, trade and other business information, consultation, business investigation, liaison, negotiation, Dynamic research and other services.　　The Association president Shang GE is the chairman of Dandong China Merchants Overseas Investment Co., Ltd.　　It is reported that the Chinese Association of Entrepreneurs to the DPRK Working Committee is approved by the Chinese government to set up a community organization, is China's only national dedicated to the DPRK's work.　　According to the company's website, Dandong China Business Overseas Investment Co., Ltd. and the DPRK government departments such as the State Economic Bureau, the Trade and Investment Bureau, the DPRK Foreign Economic Cooperation and Promotion Committee, the relevant provincial institutions and a number of North Korea size Clubs (companies) formed a close cooperative relationship. Experts: or affected by international problems North Korea has been trying to increase foreign economic cooperation in recent years. Pao Paoliang, an expert on Korean peninsula issues at the China Institute of Modern International Relations, told the Daily Economic news reporter that North Korea's main target for foreign economic cooperation is China and has been making efforts to attract foreign investment. Prior to that, North Korea set up a national development bank and attract foreign institutions of the North Korea Dafeng International Investment Group, and the North Korean port city of Luo Xian pioneer (referred to as Rason) upgradeFor the special city. Despite the high enthusiasm, Chinese businessmen investing in North Korea may just "look beautiful". Rason, a North Korean expert who declined to be named, told reporters that he had become a free-trade zone as early as the 90 's, but had not been able to attract more investment.　　The expert reminded Chinese investors that some of the North Korean cities, such as electricity, network and other infrastructure construction is not sound, and the Korean domestic law on foreign investors have a lot of restrictions, coupled with the financial operation is not transparent and the peninsula nuclear issues and other reasons, investment in the DPRK has a certain risk. The company is a private enterprise which is committed to the civil business dealings between China and Korea through private channels. A staff member of the company said that Chinese companies are not able to afford to ignore the unexpected difficulties, in addition to the above reasons, the North Korean investment projects and local purchasing power is not too high.　　For now, he says, there is little chance of a return on investment. It is understood that the right to development of Chinese companies will soon convene an investment statement will be to attract capital. But the North Korean experts are not optimistic about the outlook, he said, because it is not yet known how the strength of the Chinese enterprises, the difficulty of attracting investment will be quite large.　　In addition, the above two islands do not show any resources advantage of any project, investors may also be affected by some countries of the international community to North Korea financial sanctions. The reporter learned from the Ministry of Commerce that in recent years, the Chinese companies have not published investment data.