Gov't to set target for boosting foreign direct investment in Japan

TOKYO —

The government plans to set a numerical target to achieve by 2020 for promoting direct investment in Japan from abroad, sources familiar with the matter said. A possible target is to raise the outstanding balance of direct foreign investment in Japan to 10% of the nation’s gross domestic product from 4.1% at the end of 2009, they said.

The ratio in 2009 represents 19.6 trillion yen in value. Another possible target is to double the number of employees at foreign companies operating in Japan to 1.7 million, the sources said.

A cut in the corporate tax and the use of Tokyo’s Haneda airport as a 24-hour hub airport are among measures under study to promote direct investment from abroad.