Government report: Japan seeks to attract $750 billion in investment

Government sources revealed Japan’s quest to attract foreign investment worth 100 trillion yen ($750 billion) by 2030.

The sources also reported on the Japanese Government’s endeavour to attract skilled foreign workers to telework, as part of its drive to promote global economic growth and competitiveness.

Japan’s Kyodo News Agency cited government sources as saying that the digital target, which includes a new action plan, promises to be double the 46.6 trillion yen foreign investment pumped by the end of 2022. The Government had previously set the target of foreign investment by 2030 at 80 trillion yen.

The plan comes as the Covid-19 pandemic and the Russian war in Ukraine highlighted the need to streamline and strengthen supply chains for key components and ensure national security.

Japan wants to strengthen its position as a production and research centre and take advantage of the weakness of the local currency “yen”, as this is an incentive for foreign investment.

The number of foreigners living in Japan was 3 million by the end of 2022, and Japan’s population is about 125 million.