North Hamgyong Province’s provincial trade management bureau is “critical about the central government’s micromanagement of trade-related activities,” a source told Daily NK
North Korea’s government recently issued an order to the provinces calling on them to increase efforts to earn foreign currency, a Daily NK source in North Hamgyong Province reported on Monday.
According to the source, North Korea’s government recently announced policies to prioritize foreign currency earning activities this year as part of efforts to restore the lagging economy, issuing an order to that effect to each province on Feb. 10.
In the order, the government emphasized the need for trading companies to take prompt, aggressive measures to prioritize solutions to resolve the country’s shortage of foreign currency in order to reinvigorate the economy.
The order called on provincial trade management bureaus to submit a general plan to the Korea Puksong Trading Corporation that includes lists of imports and exports required by first and second-grade enterprises and trading companies and trading agencies, as well as expenditures and general trading plans for 2023.
“The order instructed provinces submit a precise list of exports and imports, and exact plans and methods to move forward with trade-related activities,” he said.
The trade management bureau of North Hamgyong Province has reportedly conveyed the order to all local trade-related administrative agencies to submit their general plans as soon as possible. The order was sent down to major companies like Musan Mine, Kim Chaek Iron & Steel Works, Chongjin Ironworks, Chongjin Harbor and Chilbosan Tourism Bureau, along with mid-ranked enterprises and regional industrial factories and even small-scale companies that are not typically focused on earning foreign currency.
North Hamgyong Province’s provincial trading bureau said that even small enterprises cannot be ignored, and that small companies can come up with creative plans for foreign currency earnings that lead to investments from foreign companies.
“It’s not important whether companies are large or small, but whether they can work toward the national interest and perspective by improving the people’s economy and people’s lives,” the trade bureau reportedly said.
Daily NK’s source said the provincial trade management bureau appears worried how trade will turn out this year given the difficulties caused by the closure of the border for several years, and is “also critical about the central government’s micromanagement of trade-related activities.”
“All relevant organizations have to submit general plans, which has caused difficulties for smaller organizations because they will have a tough time deciding on lists of imports and exports and executing their trade plans,” the source added.
Translated by David Black. Edited by Robert Lauler.
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