LPA Tokyo had the pleasure to attend the G7 conference of Trade Ministers in Osaka on 28 October. Among the various discussions, the representatives of the G7 countries chamber of commerce held a side meeting on the development of foreign direct investments in the Kansai region. The event was organised by the Ministry of Economy, Trade and Industry (METI) and other organisations, and was attended by representatives from the G7 countries, including the USA and Germany, and the European Union’s Chamber of Commerce and Industry in Japan.

Mr. Tetsuro Fukunaga, Director of the Trade and Economic Cooperation Bureau of the Ministry of Economy, Trade and Industry (METI), opened the event with an address in which he touched on the Japanese Government’s target of increasing direct investment in Japan from overseas to 100 trillion yen, more than double the current level, and explained the measures being taken to attract investment and human resources from abroad.

Mr. Hiroshi Ichisaka, Director of International Relations, Osaka Prefectural Government, then introduced Osaka’s attractiveness as an investment destination, including the current status of large-scale projects such as the Osaka-Kansai Expo, and the concentration of industries with growth potential, such as lithium-ion batteries for electric vehicles, decarbonisation and life sciences. In response, each representative of G7 chamber of commerce made a statement before exchanging through a Q&A session.

The Kansai region is definitely an appealing destination for foreign investment (Osaka has a GDP of 379 billion USD i.e. same as Singapore) and we will continue our efforts to assist our clients investing in Osaka and Kyoto.