Investors in North Korea carry cash in suitcases to buy firms

Posted by On 11:44 PM

Investors in North Korea carry cash in suitcases to buy firms

Richard Lloyd Parry

The Times

  • Asia
  • North Korea
  • Donald Trump
  • US politics
  • United States
Kim Jong-Un was given a pep talk by Donald Trump, who said his country had great real estate prospects
Kim Jong-Un was given a pep talk by Donald Trump, who said his country had great real estate prospectsKOREAN CENTRAL NEWS AGENCY/REUTERS

It is a modest proposal by the standards of international investment: a 20-room guest house in a new enterprise zone.

Tax discounts and other business incentives are generous and there are no other competing hotels of international standard. There is one catch â€" this is North Korea, the most business-unfriendly nation on earth.

The proposition was made last month by the North Korean authorities to a group of business people visiting Pyongyang. The most remarkable thing about it is that the offer in the Unjong special economic zone, 15 miles north of the capital, is for a 100 per cent foreign-owned business. For £535,000 you, I or any other foreign investor can become the sole owner of a North Korean hotel.

For more adventurous investors,…

Source: Google News North Korea | Netizen 24 North Korea

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