The board of Phoenix Commercial Ventures has decided to withdraw from the DPRK with immediate effect.
As a consequence Phoenix Commercial Ventures Ltd will be dissolved.
A further announcement will be made as and when the company is dissolved
Phoenix Commercial Ventures Ltd offered investors business and investment opportunities in the DPRK (sometimes referred to as North Korea or Democratic People’s Republic of Korea).
Phoenix Commercial Ventures Ltd is owned and run by three experienced professionals, who are based in London, Paris and Asia.
The Board has between them many years of international business experience, and an invaluable network of well placed contacts.
Phoenix Commercial Ventures Ltd offers a unique service, by being able to offer direct access to the DPRK.
Phoenix Commercial Ventures Ltd specialises in project finance in the DPRK. As is well known, the business environment is difficult, and the company targets very specific investment projects and businesses; these are small enough to manage and have the capacity to generate foreign currency, either through export or import substitution.
Phoenix Commercial Ventures Ltd maintains an office in Pyongyang, almost the only European company to do so, and operates with the following specific aims:
- Identify commercially viable business opportunities in the DPRK, on a case by case basis
- Identify reliable local partners for all forms of business in the DPRK, either trade or investment
- Seek overseas investment sources for such opportunities
- Minimise the risk by taking responsibility for supervision of the local set-up procedures and management of the investments
The Board of Phoenix Commercial Ventures Ltd consists of nationals of the UK and France. The European flavour is enhanced by the fact that most of the counterparties and suppliers in the various projects are also European, and the DPRK government views Phoenix Commercial Ventures as a prime conduit for European business and investment in the DPRK.
One of the directors of Phoenix Commercial Ventures was also CEO and General Manager of the Daedong Credit Bank.