JETRO Invest Japan Report 2019 (Summary)2. Business Environment Improvement Efforts
Specific measures (excerpts) of “Promotion of direct investment in Japan” to realize Society 5.0
- Reinforcement of the support to promotion activities of municipalities who have clarified their foreign companies promotion strategy based on "Program to Intensively Attract Foreign Direct Investment in Regional Japan" (Adopted by the Council for Promotion of Foreign Direct Investment in Japan on April 16, 2019), strengthened support system of JETRO, and strengthened collaboration between capture of inbound tourist demand and export promotion of agricultural, forestry, and fishery products will be carried out.
- Major overseas bases of JETRO will form close networks with overseas innovation ecosystems, and through that, process active invitation activities toward foreign companies who will contribute to innovation will be carried out.
- Regional Business Conference (RBC) started in FY2018, will be held in the regions where active promotion is practiced for foreign companies also in FY2019.
[Source] Created from "2019 Growth Strategy"
1. Construction of innovation ecosystem toward realization of Society 5.0
- For innovation, “creation and raising of startups who will play an active role internationally” has been set as a goal
- Analyzing the ecosystem of an individual city in the country, concentrated assistance as well as supports for inviting foreign entrepreneurs to the base cities are to be provided.
2. Utilization of project-based “Regulatory Sandbox” system
- ”Regulatory Sandbox" system was introduced in June 2018.
- JETRO works to introduce this system to foreign/foreign-affiliated companies as well as liaise and coordinate with the government.
3. Initiatives toward expanding Japan’s inward FDI into regional areas
- “Support Program for Regional Foreign Direct Investment in Japan” is set for the sustainable vitalization of regional economy through inward FDI.
- JETRO supports local governments in inviting foreign companies and improving their capacity for inward investment promotion.
4. Smart public service – movement toward realizing of the easiest country in the world for companies to do business
- Through the “Act of Digital Procedure”, enacted in May 2019, online one-stop service of incorporation procedure is to be introduced.
- Other measures include computerization of the court as well as trade procedures.
Main measures toward business environment improvement
|Introduction of online one-stop service of incorporation procedure||The service will be started sequentially so that procedures from certification of articles of incorporation to the procedure after the registration will be completed by one-time operation in a single system in order to expedite incorporation procedure (within 24 hours).|
|Promotion of computerized court procedure, etc.||Various efforts will be implemented in phases aiming to realize full-scale computerization of the court procedure related to reform promotion of the civil affairs judicial system while respecting autonomous judgment by the judicial branch.|
|Improvement of foreign trade procedure/port distribution||Constructing Collaboration platform of port-related data by 2020 in order to digitize all port-related information such as data concerning procedures between administrative organizations and private businesses and data concerning circumstances of port facilities, and aim to make port distribution more efficient utilizing electronic information.|
5. Promotion of active participation of foreign professionals
- Publicity activities will be strengthened toward the widespread use of “Project for Encouraging Foreign Entrepreneurs (so-called “Startup visas”).
- JETRO has been operating the portal site toward larger intake of foreign professionals into Japan.
6. Progress of “Mega FTAs” in which Japan joins
- In addition to bilateral ones, Japan has seen the progress of its multilateral “Mega-FTAs”. Some foreign-affiliated companies in Japan are under consideration to utilize these mega-FTAs to develop their business.