A Japanese daily says North Korea has prepared new economic policies that designate eight cities as special districts for the provision of tax breaks.

The Nihon Keizai Shimbun says the North is considering new policies to attract foreign investment and to revamp its infrastructure.

The eight cities named as special zones are the capital city of Pyongyang, Sinuiju, Nason, Nampo, Wonsan, Hamhung, Kimchaek and Chongjin.

The paper also cited the North's plan to open a national development bank in mid-March to provide loans for infrastructure projects and another plan to open a national export and import bank.