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Japan looks to simplify foreign investment procedures

  • August 18, 2016
  • , Nikkei Asian Review , 6:00 a.m.
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Japan’s government aims to encourage more foreign investment, with efforts underway to ease the various restrictions facing companies that try to enter the country.

 

The Cabinet Office and Ministry of Economy, Trade and Industry solicited ideas from experts in a meeting Wednesday. The discussion included scrapping the requirement for entrepreneurs to return to their country of origin or to physically come to Japan to establish a company.

 

Cumbersome procedures for opening bank accounts also were cited, as they pose difficulties for those wishing to transfer invested capital for a new business in Japan.

 

Christine Edman, president of Swedish clothing brand H&M’s Japan unit, and professor Shujiro Urata of Waseda University were among the participants.

 

A detailed proposal is expected this year.

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