Donald Trump dangled the carrot of foreign investment in front of North Korean leader Kim Jong Un at their nuclear summit, but analysts say few will want to put money into one of the highest-risk business environments in the world. The U.S. president showed Kim a movie of bright lights, high-speed trains and soaring tower blocks - pitching a future that could be possible if Pyongyang gives up its weapons. Optimists say that with mineral wealth, cheap labour, and a helpful geographical location, the North has huge potential. But the history of overseas firms who have tried to set up operations in the isolated, impoverished country is a long and sorry one. Rules that can change on a whim, bills that are never paid, and the threat of expropriation hang over foreigners who step into the wildest of wild east investment destinations. For now, dozens of restrictions apply under the various sanctions regimes imposed on the North over its nuclear ambitions. Joint ventures are banned by the U.N. … [Read more...] about Invest in North Korea: money pit or golden opportunity?
How poor is north korea
Visitors are not allowed to use local currency, except in certain areas - another intrigue regarding the hermit country. Vietnamese Embassy, 1.7 hectares wide Visitors are not allowed to use local currency, except in certain areas - another intrigue regarding the hermit country. >> A Vietnamese perspective from inside North Korea – P4: Visiting North-South border village >> A Vietnamese perspective from inside North Korea – P3: Beer fete >> A Vietnamese perspective from inside North Korea – P2: Immortal leaders >> A Vietnamese perspective from inside North Korea – P1: First images Rather than accept their country’s currency, North Korean stores selling imported items are regulated to only accept ‘strong’ currencies, such as U.S. dollars, euros, Japanese yen, and Chinese yuan. Only two supermarkets licensed to sell goods to foreigners accept domestic currency, with on-site foreign exchange counters available … [Read more...] about A Vietnamese perspective from inside North Korea – P5: The blue, red won
In the days when South Korean President Park Geun Hye was still talking to the families of those killed in the Sewol ferry sinking, she pledged to end the “malpractices” that left the country’s rapid economic rise marred by public safety calamities. “I should have made more effort to eradicate those evils,” Park said two weeks after the April 16 disaster, which left more than 300 people dead. “I will make sure to fix the problems and create a country where people can trust and live a safe life.” One year later, Park’s words feel like an empty promise to Moon Jong Taek, whose daughter, Ji Sung, was one of 250 high school students who died on the ferry. After Park’s ruling party held its ground in June local elections, the president ceased most contact with the parents. She passed by crowds of shouting families of victims when she went to the National Assembly in October to give a speech -- where she made no mention of the sinking or … [Read more...] about No closure for Korea as ferry disaster haunts President Park
VietNamNet Bridge - 2015 was the first year in the past six years that the number of international visitors to Vietnam fell, reaching 7.9 million people. In addition to factors from economic fluctuations in the global situation, we can say that Vietnam's tourism needs a judicious investment and development plan. Many experts said that Vietnam has great potential to achieve a higher position on the world tourism map. Desirable advantage Son Doong Cave. Photo: National Geographic According to a report assessing the competitiveness of tourism in 2015 by the World Economic Forum (WEF), Vietnam ranked 75th out of 141 countries and territories and ranked 33rd in the category of natural and cultural resources. Foreign tourists highly appreciated Vietnam for the richness of the scenery, as many people say this is "a nation that has everything": majestic mountains, bustling cities, cultural destinations, wonderful beaches, pristine islands, excellent cuisine ... In 2015 Son Doong Cave was … [Read more...] about How should the gold mine of Vietnam tourism be explored?
“Vietnam has many fascinating things to discover, but it’s the best if you discover them yourself.” Lorijon Bacchi, country manager of Visa in Vietnam, Laos and Cambodia, said: “tripadviser.com, a prestigious travel guide website in the world, recommends to its readers that the best way to travel Vietnam is to hire a bike and ride it from the North to the South. It is, on the surface, very strange advice!” “Coming to Vietnam, I know local tour guides’ joke about going to museums in the morning and the water puppetry theatre in the evening, so I understand the above advice. Vietnam has many fascinating things to discover. But it’s best that you discover them yourself.” In 2011, Visa implemented its sixth global travel trends survey and this was the third time Vietnam was involved.Attractive destination According to the survey, with distinctive culture, beautiful natural landscapes and affordability, Vietnam emerged as one of the … [Read more...] about How to draw foreign tourists back to Vietnam