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ECONOMY

Japan’s investment in Africa remains stagnant

  • December 20, 2018
  • , Asahi , p. 13
  • JMH Translation

The Seventh Tokyo International Conference on African Development (TICAD7) will be held in August next year to discuss aid to Africa as one of the issues on the agenda. With TICAD7 scheduled ahead, however, Japan’s prospective investment in Africa amounting to 30 billion dollars (roughly 3.4 trillion yen), pledged by Prime Minister Shinzo Abe two years ago, is becoming less likely to be achieved. Japan has invested only 16 billion dollars as of September this year because private investment did not grow as the government expected. Some Japanese companies operating in Africa say that the government was optimistic in its forecast. (Abridged)

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