Japanese Government to Subsidize Companies Expanding in Global South Including India, Southeast Asia

The Prime Minister’s Office in Tokyo
19:52 JST, October 29, 2023
Japan plans to subsidize a portion of the costs for companies to expand their business in emerging and developing countries known as the Global South. The government hopes to capture the expected economic growth of the Global South and strengthen the competitiveness of Japanese companies. Emerging and developing countries are strengthening their presence in international politics, and the government aims to strengthen ties with them through assistance.
The government is currently working to allocate ¥140 billion for the project in the fiscal 2023 supplementary budget. Companies that conduct business or research and development in India, Southeast Asia, and Africa are expected to receive subsidies of up to several billion yen to cover half of the project costs.
In addition to projects that are expected to strengthen the semiconductor supply chain and increase exports, a wide range of fields, including healthcare, telecommunications and finance, will be eligible for subsidies.
"Politics" POPULAR ARTICLE
-
Japan Presses U.S. to Scrap 25% Auto Tariffs as Ishiba Refuses Partial Trade Deal; No Deal Without ‘Total Rollback’
-
LDP to Forgo Compiling Selective Surname Bill During Current Diet Session
-
Japanese Govt on High Alert after Chinese Aircraft Intrusion into Territorial Airspace near Senkaku Islands in Okinawa Pref.
-
Japan Wary of ASEAN Members Shifting Away from U.S.; Ishiba Hopes to Limit Spread of China’s Economic Influence
-
Government Sounding Board Flooded With Identical Comments; Experts Warn of Distorted Picture of Public Opinion
JN ACCESS RANKING
-
Core Inflation in Japan’s Capital Sharply Accelerates in April
-
U.S. Holds Fire Over Yen Exchange Rate Targets; Bessent Said to Understand Negative Impact on Markets
-
Rice Prices Rise for 15th Straight Week, with Releases of Stockpiled Rice Slow to Circulate
-
Japan Must Take Lead in Maintaining Free Trade System, Says Chairman of Japan Trade Group
-
Groundbreaking Ceremony Held for Japan’s 1st Casino Resort; Site Set to Open in Fall of 2030