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Economy

Japan to hire 50 foreign experts to attract overseas investment

TOKYO -- The Japanese government will hire about 50 foreign experts in fiscal 2014, starting April 1, as part of its effort to attract more foreign investment and boost economic growth.

     The experts, including management consultants and former executives from various countries, will be employed for up to a year on a contingency-fee basis by the government-affiliated Japan External Trade Organization. Their job will be to recruit foreign companies to set up branch offices and factories in Japan.

     The government hopes the investment drive will help Japan better compete with other Asian countries such as Singapore and South Korea. The experts will focus their activities on North America, Europe and Southeast Asia.

     In addition, 10 or so Japanese experts with strong links to local governments and specific industries will be hired to smooth the way for greater investment from abroad. The government has earmarked 1.6 billion yen ($15.4 million) for personnel and other costs in its fiscal 2014 budget plan. If the program proves successful, it will be extended into fiscal 2015 and beyond.

(Nikkei)

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