My genius colleague writes:
It also argues that “the DPR of Korea (North Korea) will become in the next years the most important hub for trading in North-East Asia.”
The reasons? The list goes on and on:
Lowest labour cost in Asia. Workers’ paradise!
Highly qualified, loyal and motivated personnel. Education, housing and health service is provided free to all citizens. As opposed to other Asian countries, workers will not abandon their positions for higher salaries once they are trained. Paradise, part 2: Once you hire them, they have nowhere else to go.
Lowest taxes scheme in Asia. Especially for high-tech factories. Typical tax exemption for the first two years. This is the same country that explained its land reform was guided by “the principle of confiscation without compensation. ”
No middle agents. All business made directly with the government, state-owned companies. No middle agents. All skimming done by government employees.
Stable. A government with solid security and very stable political system, without corruption. Fingers crossed!
Full diplomatic relations with most EU members and rest of countries. The KFA does all its business in euros.
New market. Many areas of business and exclusive distribution of products (sole-distribution). We’re in the Stone Age.
Transparant legal work. Legal procedures, intellectual rights, patents and warranties for investors settled. Ah, socialism.