Monday, June 10, 2013

Show some action instead of just talking to DPRK

Recently North Korea (DPRK) said that it has passed a law on setting up more special economic zones to attract more foreign investment in its economy. Seriously though, are they really living in such isolation that they do not know no one will even dare to invest in their country?

Come on... As a businessman, will you invest in an area where at any point in time, someone can just close down your whole operation in a single night just because they feel like it? Obviously not. If a "bellweather" area such as Kaesong can be closed down just because DPRK feels like it, I think the world should send a message that this is not going to be acceptable and not allow their citizens to invest in DPRK.

Why restrict businesses you might ask? It's very simple. If you have any countryman in a foreign country and they run into trouble, do you think the government is going to just ignore them and leave them to their fate? Definitely not. DPRK, in not respecting the international rule of law, just got themselves into a situation where no country in the world trusts them. If at any point in time they can just close down the zone, will you risk letting your citizens be stuck in a foreign country and waste previous time and resources to get them out, if it is even possible at all?

If you come from a business perspective, you might as well avoid that area altogether. Why invest in an area of certain uncertainty? Personally, I think the risks outweigh the benefits. There are other countries that are more deserving, and appreciative to invest in.

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