Prime Minister Kishida Fumio says he wants to accelerate foreign investment in Japan by establishing special business zones for asset management firms.
Kishida made the comment in a speech to more than 200 US business leaders in New York on Thursday.
He stressed that “Japan’s economic indicators during the past year are at levels not seen in 30 years”. He said the country’s nominal GDP annual growth rate is the highest among major developed countries, and “stock prices have risen to a level not seen in 33 years”.
Kishida said he hopes to accelerate investment for further economic growth by encouraging foreign asset management companies to enter Japanese markets.
He said special business zones will be established where administrative procedures can be completed solely in English. The prime minister said he will rectify Japan’s unique business practices and resolve the barriers for entry. He also noted that he aims to prepare a program to assist newcomers into Japan’s markets.
Kishida said he was recently told by a globally influential investor who has been watching Japan’s economy for three decades that he has never seen it more positive than it is now.
The prime minister said, “I would urge you to evaluate what we are doing in my country, look at the underlying strength of our economy and our plans for the future, and then invest in Japan.”