Japan to target foreign investment through incentives, special industrial zones, Nikkei says

TOKYO (TR) – The Japanese government plans to attract more foreign firms and direct investment through incentives such as specialized industrial zones, tax cuts and subsidies, the Nikkei reported.

In a program released Friday, the government set a target of increasing the number of employees at foreign companies operating in Japan to 2 million by 2010, the Nikkei said. That is up from the 750,000 such jobs reported at the end of fiscal 2006, the news agency reported.

Included in the program, the government will speed up immigration procedures and make contract rules more transparent by international standards, according to the Nikkei.

The government plan calls for the creation of 30 “value-added bases” a year for R&D centers and facilities where foreign firms can manage their Asian operations, the Nikkei said.

Source: Nikkei

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