Posted: Oct 16, 2013 4:04 AM
Updated: Oct 16, 2013 4:06 AM
PYONGYANG, North Korea (AP) Organizers of a rare international conference in Pyongyang say North Korea is hoping to set up new special economic zones to lure badly needed foreign capital and bolster its laggard economy.
Ri Chol Sok, vice president of the Korea Economic Development Association which is hosting the two-day conference, says the zones are already starting to be organized all over the country.
The meeting began Wednesday with academics and experts from 13 countries and 60 North Korean participants.
North Korea is still regarded as too risky by many businesses but has had its eye on expanding its use of economic zones since at least June, when it announced foreign investors would be given preferential treatment for land use, labor and taxes.