Japan

Japan is the world's third largest economy, the United States' fourth largest trading partner, and an important destination for U.S. foreign direct investment (FDI). The Government of Japan explicitly promotes inward FDI and has established formal programs to attract it. Soon after taking office, the government of Prime Minister Shinzo Abe announced its intention to double Japan's inward FDI stock to JPY 35 trillion by 2020, and reiterated that commitment in its revised economic growth strategy in June 2014. In April 2014, the government constituted a new "FDI Promotion Council" comprised of government ministers and private sector advisers. An advisory committee to the Council released a report with recommendations on how Japan can improve its investment climate (available at: http: //www.invest-japan.go.jp/promotion/0425/sankou_02.pdf). On March 18, 2015, the Council proposed a new five-point action plan to encourage inbound FDI and help foreigners conduct business in Japan (available at http: //www.invest-japan.go.jp/promotion/promise_en.pdf). The proposals include minimizing wait times for immigration procedures; introducing free Wi-Fi for foreign visitors; and providing multi-language displays in stores, roads, railways and hospitals by March 2020, prior to the Summer Olympic/Paralympic Games in Tokyo.