Japan aims to attract US$750 billion in foreign direct investment and increase the influx of foreign talent and remote workers, under a new plan aimed at enhancing economic growth and global competitiveness, reports Kyodo News. The government plans to attract investment in strategic areas, including semiconductors, green technology, digitalization, and healthcare. Japan will also explore ways to attract digital nomads, as the pandemic has spurred a fresh look at work styles. Currently, Japan does not issue a visa specifically for such workers, unlike some other nations.
Hope we could become a bridge between Japan and overseas to encourage foreign companies to invest to Japan more.
The paper also advocates for reforms and enhancements in areas such as:
- Corporate and personal income tax reforms (some of which are already under way);
- Development of crypto-specific accounting standards;
- Enactment of laws to allow establishment of a DAO structure modelled after the limited liability corporation;
- Further improvements of the token listing approval process by the JVCEA;
- Defining the registration process for stablecoins under the new stablecoin regulatory framework, and establishing a self-regulatory organization to promote regulatory compliance; and Measures to promote NFT utilisation in Japanese media industries.
Mr Shiozaki has been at the forefront of advocating for Web 3 development in Japan, and had remarked in a Jan 2023 interview with CoinDesk that “[w]hat will not happen is a strengthening or tightening of controls against crypto.”
At the same time, Kyodo News reported just last month that Japan and other G7 members are looking to push for tighter #regulation amidst “lingering concern about potential risks to the global financial system posed by crypto assets.”
As Japan, like many other jurisdictions, attempts to walk the line between growth and oversight in a post-FTX world, it will be interesting to see what the landing point is in the months ahead.
Let’s make work better! Australia • Indonesia • Japan • Korea • Singapore • Taiwan • Thailand
Real Estate
If you’re a digital nomad exploring Asia, a JustCo membership makes a lot of sense. It’s a travel essential, giving you access to over 40 high-quality and convenient coworking locations across gateway cities on this list :
Bangkok (no. 2)
Seoul (4)
Taipei (13)
Tokyo (20)
Sydney (22)
Singapore (28)
(not to mention #Melbourne, which really ought to be on this list too)!
Late last week, the Japanese ruling party’s Web 3 Project Team, led by MP Akihisa Shiozaki, released a white paper outlining its plans to boost the local #crypto industry.
Harking back to Japan’s first mover status in the crypto verse, the paper is entitled “Japan is back, again” and expresses the hope that “Japan may be the first to welcome spring after the crypto winter.”
The white paper calls upon Japan to demonstrate leadership at the G7 Summit and says it should clearly establish a leadership position for responsible innovation with an eye on the potential of Web 3.