Hokkaido Prefecture Selected in Support Program for Regional Foreign Direct Investment in Japan
A program for supporting regional areas of Japan in attracting overseas companies
April 16, 2019
The Ministry of Economy, Trade and Industry (METI) and the Japan External Trade Organization (JETRO) have been advancing the Support Program for Regional Foreign Direct Investment in Japan (hereinafter referred to as the “support program”) to support municipalities that proactively intend to attract overseas companies by uniting the efforts of all ministries and agencies of the government. METI hereby announces that METI and JETRO selected Hokkaido Prefecture as a municipality to be supported under the support program.
Exercising leadership, METI and JETRO, in collaboration with Hokkaido Prefecture, will formulate strategies for attracting overseas companies to the region by taking advantage of the region’s strong points and deriving its potentials to the maximum extent possible and will support the region’s specific activities for attracting overseas companies in accordance with the strategies. Through these efforts, METI and JETRO will encourage overseas companies to directly invest in this region of Japan.
1. Outline of the support program
It is significant for municipalities of Japan that intend to effectively attract overseas companies to their regions to identify their strong points, such as unique industrial clusters, agricultural, forestry and fishery products and tourism resources, and to connect these strong points with sales channels, technologies, human resources and know-how that overseas companies may have.
In May 2018, the government’s Council for Promotion of Foreign Direct Investment in Japan held a meeting and decided to implement a Support Program for Regional Foreign Direct Investment in Japan (secretariat: METI and JETRO), aiming to: advance efforts for attracting overseas companies to regional areas of Japan in a strategic manner by taking advantage of the uniqueness of such areas; and, to this end, support municipalities in developing their strategies and encourage them to effectively make use of related measures and advance specific activities for attracting overseas companies in accordance with the strategies by uniting the efforts of all ministries and agencies of the government. In October 2018, METI and JETRO held the first round of the call for applicants for the support program and selected 24 successful municipalities to be supported under program and they supported the selected municipalities in formulating strategies taking advantage of regional strong points and in advancing specific activities for attracting overseas companies.
2. Outline of Hokkaido Prefecture as the successful municipality
Hokkaido Prefecture is facing a dramatic increase in the number of overseas tourists, mainly those from Asian countries, over these five years. Along with this, a growing number of overseas companies have been investing in tourism-related industries, mainly in the Douou Area of central Hokkaido.
METI and JETRO aim to further attract overseas investments in a variety of areas in Hokkaido Prefecture in the field of tourism and to make use of the achievements to vitalize the regional economy. To this end, they will strive to deploy strategic activities for attracting overseas companies by taking advantage of the support program.
Division in Charge
Investment Facilitation Division, Trade and Economic Cooperation Bureau