1. The Japan Investment Council (JIC) & The JIC Expert Committee
From the view-point of promoting foreign direct investment into Japan, the Japan Investment Council (JIC) was established as a ministerial-level council in July 1994. The chairman was the prime minister, and the vice-chairman was the minister of state (for economic and fiscal policy).
The JIC Expert Committee discussed FDI-related matters under the JIC. The Committee collects requests and opinions concerning investment environment in Japan from foreign firms, and took them into account in policy arrangement. The JIC also made efforts to provide abroad the information on FDI-related policy measures and to formulate recommendations on FDI-related matters through the JIC Expert Committee.
Whereas JIC had consistently promoted FDI policies, the government of Japan has decided that ad hoc ministerial meetings on FDI promotion policy replace existing Japan Investment Council (JIC). This is a part of an overall policy amendment adopted by GOJ regarding the management of its ministerial-level meetings.
(December 28, 2007)
Japan continually encourages FDI that will help the economy to develop soundly. The government of Japan will continue to endeavor to meet the further FDI doubling goal by 2010 through the promotion of comprehensive measures based on the “Program for Acceleration of Foreign Direct Investment.”
2. Activities
In June 1995, the JIC declared "The Statement of the Japan Investment Council" to demonstrate the government's stance on promoting foreign direct investment into Japan. Furthermore, in the light of the importance of M&A for inward direct investment, the JIC also announced "The Statement of the Japan Investment Council on M&A" in April 1996, which encourages M&A in Japan.
(Statement of the 2nd Japan Investment Council in June 13, 1995)
(April 26, 1996)
After this announcement, the JIC Expert Committee Meeting intensively discussed policies for promoting inward direct investment. It then published the JIC Expert Committee Report "Seven Recommendations for Promoting Foreign Direct Investment in Japan" on April 23, 1999. Based on this report, the JIC declared a new statement, "Toward an Age of Diversified Ideas through Foreign Direct Investment in Japan" on April 27, 1999.
Moreover, the JIC carried out follow-ups on the policy measures related to the seven recommendations of the JIC Expert Committee on December, 1999.
(Statement of the 4th Japan Investment Council in April 27, 1999)
(JIC Expert Committee Report in April 23, 1999)
In the cabinet decision, "Basic Policies for Economic and Fiscal Policy Management and Structural Reform 2002," issued in June 2002, the promotion of inward direct investment was positioned as an integral strategy for economic revitalization. Accordingly, a new commitment was made to step up efforts in this area. In light of this, the JIC Expert Committee Meeting commenced a study on the entire concept of new inward direct investment promotional measures in October 2002.
On March 27, 2003, the JIC consented to the Japan Investment Council Expert Committee Report. "The Program for the Promotion of Foreign Direct Investment into Japan" asks for the implementation of 74 policy measures under the five categories. It declared a Resolution "Promotion of Foreign Direct Investment into Japan."
(Resolution of the 6th Japan Investment Council in March 27, 2003)
(Japan Investment Council Expert Committee Report in March 27, 2003)
In March 2006, the JIC decided the new goal to double the FDI stock to 5% of GDP by 2010, while “The Program for Promotion of Foreign Direct Investment in Japan” had been steadily carried and FDI stock had satisfactory increased. To achieve this new goal, JIC Expert Committee published “The Program for Acceleration of Foreign Direct Investment in Japan” asking for 65 policy measures under the three categories. The JIC consented to the Program and announced that it would accelerate FDI promotion activities further based on the new program. The JIC also decided that the Expert Committee would monitor the progress in implementing the “Program for Acceleration of Foreign Direct Investment in Japan” with close corporation from the relevant ministries and agencies. When further measures are needed, the committee will carry out additional study and intend to improve the program.
(June 20, 2006 JIC decision)
( June 20, 2006 )
( June 20, 2006)
3. The Japan Investment Council (JIC) -対日投資会議-
Agenda
- Opening
- Report from the JIC Expert Committee
- Ministers' remark
- Prime Minister's remark
- Closing
- Opening
- "JIC Expert Committee Report"
- "Report of the Working Group on Investment and Buyer-Supplier Relationships Under the Framework for a New Economic Partnership"
- Decision : "Statement of the Japan Investment Council"
- Closing
- Opening
- "Statement of the Japan Investment Council"
- Ministers' remark
- Decision : "Statement of the Japan Investment Council"
- Prime Minister's remark
- Closing
- Opening
- Opening Remark by Mr. Tomiichi MURAYAMA,
- Prime Minister, Chirman of the Japan Investment Council
- Reports from Foreign Corporations
- American Chember of Commerce in Japan (ACCJ)
- Europian Business Community (EBC) in Japan
- Samsung Japan Co., Ltd.
- Ministers' remark
- Decision : Management Rules of the JIC Expert Committee
- Closing
4. The JIC Expert Committee -対日投資会議専門部会-
Agenda
Activities
- The Program for the Promotion of Foreign Direct Investment in Japan
- Global Economic Strategy and New Economic Growth Strategy
- Report from Forum of Local Authorities for the Promotion of FDI in Japan
- Government Responses to the requests and proposals from JIC Expert Committee members
- Report on 7th Japan Investment Council and schedules of JIC Expert Committee
- Discussion over proposals/ requests from members of JIC Expert Committee
- The report by Bank of Japan (Bank of Japan)
- Responses to recommendations from members of the JIC Expert Committee on specific items requiring accelerated and strengthened efforts
- Corporate Value Study Group (Report by Ministry of Economy, Trade and Industry)
- Discussion over proposals/ requests from members of JIC Expert Committee
- Responses to recommendations presented at the 31st JIC Expert Committee Meeting
- Michelin Project in Japan (Report by Commissioner. DELMAS)
- The review of the Follow-up "Program for the Promotion of Foreign Direct Investment in Japan."
- Trade, Investment and the Reform Nexus:
The EBC Report on the Japanese Business Environment 2004
(Mr. COLLASSE, Chairman of EBC in Japan) - The American Chamber of Commerce in Japan
FDI: Major Themes for 2005
(Mr. BENES, Chairman of FDI Committee of ACCJ) - Current development in the examination over Modernization of the Companies Law
(Ministry of Justice) - Opinions and/or Suggestions from Japanese Foreign Embassies on Invest Japan'sinvestment promotion measures and strategies
(Ministry of Foreign Affairs) - Situation of efforts regarding past FDI promotion policies in METI
(Ministry of Economy, Trade and Industry) - Recent development in JETRO's FDI promotion activities and "PR Program for FDI into Japan"
(Japan External Trade Organization)
- Follow-up "Program for the Promotion of Foreign Direct Investment in Japan" (Draft)
- Plan of PR for Foreign Direct Investment in Japan (Draft)
- Follow-up "Program for the Promotion of Foreign Direct Investment in Japan" (Draft)
- Responses to recommendations presented at the 28th Expert Committee Meeting
- Problems faced by foreigners when establishing companies
- Policy Recommendations of the European Business Community (EBC) in Japan
- Policy Recommendations of the American Chamber of Commerce in Japan (ACCJ)
- Follow-up "Program for the Promotion of Foreign Direct Investment in Japan" (Draft)
- The summary of the outline tentative plan Modernization of the Corporate Law
- Achievements of the First Half of FY2003 (Invest Japan Business Support Center)
- Current Status and Issues in Measures to Attract Foreign Investment to Fukuoka City
- Free Discussion on JIC Expert Committee Report (Draft)
- Free Discussion on JIC Expert Committee Report (Draft)
- Free Discussion on JIC Expert Committee Report (Draft)
- Cultivation of Human Resources (Ms. FUKUSHIMA)
- Some Recommendations for Investment Council (Ms. TAKEUCHI)
- Three short, 'Low Hanging Fruit' suggestions in support of FDI (Mr. WAKELY)
- THE ROLE OF PR IN ENCOURAGING FOREIGN INVESTMENT (Mr. FIELDS)
- Increasing FDI Investment and Turning Japan into an International Stage (Mr. NAGAYAMA)
- DBJ's Commitment to the Promotion of Foreign Direct Investment in Japan (Mr. KOMURA)
- Efforts to Attract Foreign Direct Investment in Japan (Mr. WATANABE)
- Mobilization of Management Personnel (Mr. HAMAWAKI)
- Training Human Resources Required by Society (Mr. MIYASATO)
- The replies to indicated matters
- Proposal for Investment Japan Forum (Mr. MAKIHARA)
- Drive to Attract Foreign Companies to Osaka Prefecture (Ms. OHTA)
- The Report on the Requests from abroad on Investment Environment (Ministry of Foreign Affairs)
- About the Subject on Business Conditions - Increasing FDI Through M&A - (Mr. NORBOM)
- Commercial Code Revisions in Japan (Ministry of Justice)
- About the subject on Business Conditions (Mr. BENES, Mr. JANSSEN, Mr. TSUGAWA)
- Proposed Improvement Regarding Cross Border M&As (Ministry of Economy, Trade and Industry)
- Foreign Direct Investment into Japan (Cabinet Office)
- The Progress of Seven Recommendations for Promoting Foreign Direct Investment in Japan, 1999 (Cabinet Office)