The U.S. Department of State and the Ministry of Economy, Trade and Industry (METI) of Japan released today the United States – Japan 2009 Investment Initiative Report.
Since 2001, the United States-Japan Investment Initiative has served as a forum for bilateral cooperation on issues related to foreign direct investment (FDI) in both countries. FDI is a critical contributor to the economic prosperity of both countries and, despite the current economic downturn, Japan and the United States continue to attract FDI inflows.
This year's Investment report details the climate for FDI in each country and the work of the bilateral Investment Working Group. Among the subjects the Working Group discussed during the past year are:
- Ongoing efforts by the Japanese government to promote FDI in Japan, including the revised Program for Acceleration of Foreign Direct Investment in Japan;
- Regulatory frameworks to review FDI that are of potential national security concern;
- The deliberations of METI's Corporate Value Study Group and Corporate Governance Study Group;
- The status of U.S. and Japanese negotiations with third countries on Bilateral Investment Treaties and trade agreements with investment provisions.
In addition, the Initiative sponsored public outreach events in Shizuoka, Japan and Chicago, Illinois.
The Initiative remains an effective tool for combating global investment protectionism and improving the environment for FDI in both countries. FDI facilitates access to new technologies and innovative know-how, introduces new products and services to the market, and ensures greater employment opportunities. In addition, cross-border investment contributes to the enhancement of multilateral global economic relationships.
The United States and Japan remain committed to continue cooperation on investment issues to ensure our citizens enjoy the benefits that open global investment can bring to both our economies.
This year’s Investment Initiative report is available at http://www.state.gov/p/eap/rls/reports/2009/125605.htm