KANSAI Close-up

Eight of 10 Kansai firms ready to welcome foreign investment

About 80.4% of the corporations based in Kansai welcome additional investment by overseas firms, according to a survey conducted by the Osaka Chamber of Commerce and Industry (OCCI). Broken down by industry, 77.8% of the manufacturers, 84.1% of firms in the wholesale/retail industry and 95% of companies in the service sector expressed such positive sentiments.
Respondent firms favor overseas investment in the banking and trust sector the most, followed by telecommunications, insurance, data processing/information services and securities/commodity futures trading.
The most often cited reason as to why firms sought foreign investment was to open up a closed society and economic system. Expanding business opportunities and introducing new technology and managerial know-how followed.
An overwhelming majority of the respondents wanted the central government to consider relaxing certification standards for promotion of foreign investment in Japan. Similarly, a large number hoped local governments would consider improving and simplifying administrative procedures.
The greatest number of respondents expressed hope that private business organizations would consider urging the central government to improve the environment for foreign investment through such measures as deregulation. Establishment of comprehensive support bodies came in second on the wish list.
The Survey on the Plan to Promote Investment in Japan by Foreign Enterprises covered 1,995 leading Kansai-based corporations engaging in international business. Valid responses were received from 21.5%.