Japan wants to attract more investment, IT talent from abroad

Japanese officials say they are working on ways of attracting more investment and IT workers from abroad to sustain the country's economic growth.

The government has come up with plans to encourage foreign businesses to set up factories and other operations in Japan.

It has already set a goal of doubling foreign direct investment by 2030 compared with 2022. The target is 100 trillion yen, or nearly 640 billion dollars.

Economic Revitalization Minister Shindo Yoshitaka said on Monday that large-scale investment would be necessary to build an economy that can expand even in the face of a shrinking and aging population.

The officials want to make paperwork straightforward and in English so that businesses can more easily establish companies in Japan.

As for foreign workers, the officials first want to revamp the government's rules on the status of residence of foreign workers.

That's so IT graduates from top universities in India, Southeast Asia and other places would want to live and work in Japan.