NATIONAL NEWS
Financial officials are seeing more foreign asset manager interest in Japan as the government and private sector work to make business here more attractive.
According to reporting by The Japan Times, the Financial Services Agency’s vice minister for international affairs Shigeru Ariizumi said that many predict Japan is coming out of deflation and heading towards an economic transformation.
In a reflection of this sentiment, the Bank of Japan reversed its longstanding policy of negative interest rates on 19 March and the Japan Exchange Group, which owns the Tokyo and Osaka Stock Exchanges, has announced a requirement that top firms release financial reports in English and Japanese beginning in April 2025.
The national government, in an effort to lure foreign labour and investment is doubling the amount of visas available for its Specified Special Worker program in fiscal 2024 and last year even relaxed entry requirements for private jets so high-net-worth individuals could more easily fit a quick visit into their schedules.
These measures to make Japan more investment friendly, still in their early stages, are being implemented as Japan sets records for inbound arrivals, with both February 2024 and December 2023 seeing more visitors than ever before for those months.
Source:
The Japan Times – 25 March 2024
Image:
Chris 73 / Wikimedia Commons
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