Arab Today, arab today nearly half of districts in fezs face possible default
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Nearly half of districts in FEZs face possible default

Arab Today, arab today

Arab Today, arab today Nearly half of districts in FEZs face possible default

Seoul - Yonhap

Nearly half of all individual districts in the country\'s eight free economic zones (FEZs) may be undesignated even before they ever take off, partly due to their failure to attract investors, a lawmaker said Monday, citing related data. According to Rep. Oh Young-sik of the main opposition Democratic Party, 46, or 46.9 percent, of 98 districts in eight FEZs still lack any development plan. Only 19 of the total have been fully developed with the remaining 33 still in the development phase, Oh said, citing data from the Ministry of Trade, Industry and Energy. Under the current law on FEZs, developers of each district must file a request for their respective regional government\'s approval of their development plan within three years following the initial designation of the district they wish to develop. The 46 districts that currently lack any development plan, thus, face a possible cancellation on default, said Oh, who is a member of the parliamentary committee on trade, industry and energy. Both the ministry and the lawmaker pointed to a prolonged downturn in the real estate market here as a reason for the developers\' failure to attract investors and thus set up a detailed development plan. Oh also pointed to the concentration of investment in only a small number of the most competitive FEZs as another problem facing free economic districts and their developers in other areas. According to the data from the trade and industry ministry, out of the total US$7.77 billion invested in the country\'s FEZs since 2004, 63.4 percent, or $4.93 billion, went to the most active FEZ in Incheon, just west of Seoul. Another FEZ near the country\'s second-largest city Busan also attracted $1.24 billion, or 15.9 percent of the total, over the period while most other FEZs attracted a little over 1 percent or even less than that of the total.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nearly half of districts in fezs face possible default Arab Today, arab today nearly half of districts in fezs face possible default

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nearly half of districts in fezs face possible default Arab Today, arab today nearly half of districts in fezs face possible default

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday