American industries, including Google, also visited… Attending the IPEF summit
Japanese Prime Minister Fumio Kishida explained Japan’s industrial policy, including the goal of increasing startup investment tenfold in line with his attendance at the Asia-Pacific Economic Cooperation (APEC) summit, and encouraged entrepreneurs developing cutting-edge technologies in the United States to invest in Japan. Keizai Shimbun reported on the 14th.
Chief Cabinet Secretary Hirokazu Matsuno announced Prime Minister Kishida’s visit to San Francisco from the 15th to the 17th at a press conference on the 14th.
Chief Cabinet Secretary Matsuno said at the APEC summit, “In addition to promoting free and open trade and investment, we will actively lead discussions on important issues such as supply chains, digital technology, and climate change.” Regarding Russia’s invasion of Ukraine, he also said, “We will convey Japan’s position.”
Prime Minister Kishida plans to coordinate meetings with Chinese President Xi Jinping and President Yoon Seok-yeol and also share opinions with U.S. President Joe Biden.
In particular, Nippon Keizai reported that he will use his visit to the US as an opportunity to carry out ‘sales diplomacy’ to convey Japan’s charms. Chief Cabinet Secretary Matsuno explained, “The Prime Minister plans to visit American industries such as Google and the American Semiconductor Industry Association.”
On the 17th, he and President Yoon Seok-yeol will visit Stanford University in Silicon Valley, where the high-tech industry is concentrated, to exchange opinions with startup companies and hold a roundtable discussion between the leaders of Korea and Japan. Japan and Korea announce plans to establish a new supply chain for hydrogen and ammonia, which are decarbonized fuels.
It is reported that Prime Minister Kishida will emphasize a policy of investing 20 trillion yen in national funds over 10 years for Green Transformation (GX) for decarbonization and attract 150 trillion yen in public and private investment, and will also present a development plan for next-generation nuclear energy such as nuclear fusion.
In addition, Japan will expand investment in artificial intelligence (AI) and quantum technology by cooperating with countries around the world, and will also announce the establishment of a decarbonized material supply chain in Korea and Japan and cooperation in semiconductor development and production between Korea, the United States and Japan.
Prime Minister Kishida introduced the newly established ‘Japan Innovation Campus’ in Silicon Valley on the 12th, a base to support Japanese entrepreneurs, and plans to support Japanese startups and other companies in research and networking for business development in the United States. .
At a press conference, Chief Cabinet Secretary Matsuno said that Prime Minister Kishida would also attend the summit meeting of the Indo-Pacific Economic Framework (IPEF), an economic bloc initiative in which 14 countries, including Japan, the United States, and Australia, participated, and said, “We will continue to work hard for the Indo-Pacific region.” “We will convey Japan’s position toward realizing possible and inclusive economic growth,” he said.
Prime Minister Kishida has been creating opportunities to explain economic policies to financial investors in the eastern United States. In September 2022, he spoke at the New York Stock Exchange (NYSE). He expressed the permanentization and expansion of the Small Investment Tax Exemption System (NISA) and urged investment in Japan.
In September of this year, policies toward realizing ‘asset management entry’ were explained at a meeting hosted by the New York Economic Club. At this meeting, Prime Minister Kishida announced that he would create a special asset management zone to strengthen Japan’s asset management industry and promote overseas expansion.
Nippon Keizai said, “The Prime Minister aims to completely break away from deflation and increase wages by increasing asset income and improving the earning power of companies,” adding, “We will promote investment expansion not only in the financial sector but also in the industrial sector from the United States. “There is,” the report reported.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.