Japanese Government's Efforts to Attract Foreign Businesses
May 09, 2018
1. Five Promises to
Attract Foreign Businesses to Japan
The Japanese Government held a meeting of the Council for Promotion of Foreign Direct Investment with attendance by the Prime Minister on March 17, 2015, and adopted the following five promises to solve inconvenience or impediments indicated by many overseas companies as standing in the way for them to choose Japan as the invest destination.
- Removing language barriers at retailers and restaurants
- Improving internet connectivity (Free Wi-Fi)
- Receiving business jets at regional airports
- Enhancing educational environment for expatriate children
- Strengthening consultation services for foreign businesses by State Ministers.
2. Policy Package to
Resolve Issues Hindering the Foreign Companies’ Entrances into Japan
Leveraging the TPP as a driver, the government adopted policy package for promoting foreign direct investment into Japan to make Japan a global hub for trade and investment on May 20, 2016.
- Simplification of regulations and administrative procedures pertaining to foreign companies.
- Accept highly-skilled foreign professionals (“Japanese-version” green card” system)
- Improvement of the living environment for foreign nationals
- And more
3. Abenomics Is Progressing
- Toward the Reinvigoration of the Japanese Economy
- Reduced the effective corporate tax rate below the 30% mark
- Reinforced corporate governance
- Reform of bedrock regulations
- Healthcare sector reform
- Electricity and gas market reform
- Pilot initiatives in national strategic special zones
- Relax requirements for expatriates to be accredited as “highly skilled professionals”
Video: the Government's Strategies to Make Japan the World's Most Business-Friendly Nation
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