Japan unveils ASEAN investment initiative

Japanese Minister of Economy, Trade and Industry Hagiuda Koichi has revealed an initiative regarding investment in ASEAN, which focuses on supply chain, connectivity, digital innovation and human resources.

Unloading container cargos at Tokyo Port, Japan (Photo: VNA)

The announcement was made during a conference held in Jakarta on January 10.

Regarding investment in supply chain, Hagiuda said enhancing ASEAN’s capability as an important hub in global supply chain and increasing its attractiveness is extremely important also from the stand point of resilient Japanese economy.

Japan spent about 300 million USD to support capital investment of 92 firms and plans to continue the support this year.

Investment in digital supply chain management will be promoted, he underlined. As a first step, Japan will provide an assistance worth about 9 million USD.

In addition, investment in hard infrastructure will continue, along with soft connectivity. Japan will contribute to the digitalisation of trade procedures as well.

The next field of investment is new industry and digital innovation associated with building sustainable society.

The Japanese government has provided about 8 million USD to 40 new projects in the last two years to support alliances of Japanese companies and ASEAN ones offering solutions to local social problems.

About 9 million USD will be provided to promote partnership between Japan-ASEAN businesses.

Investment in human resources of the future will also be bolstered, the Japanese minister said.

Over the next five years, Japan hopes to extend support to provide opportunities for 50,000 highly-skilled Asian professionals to seek jobs in Japanese companies in Asia as well as Japan./.

VNA