Osaka attractive for foreign firms: business official

21:09, December 14, 2010      

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Osaka, with its advantage of environment and energy industries, will actively introduce domestic and foreign companies and research institutions, including Chinese companies, said Yasuhiro Kawabata, manager for Business Development of Osaka Mayor's Office at an interview with Xinhua on Tuesday.

According to Kawabata, in the future Osaka will introduce more companies and research institutions to the Osaka Station North District, which aims to become an innovation center of Asia, as well as the Osaka Bay area, which is growing into a hub of leading companies in the environmental and energy industries.

With the belief that foreign investment will greatly boost the economy, Osaka has been conducting investment promotion via incentive measures and investment support program.

As of business incentives, Osaka Prefectural Government provides a variety of subsidies for the companies and universities established within the prefecture, ranging from the basic subsidy for construction, subsidy for land acquisition, special subsidy for rental costs or facility and equipment investment, in order to lessen the first-stage investment burden of the incoming businesses.

Besides, International Business Promotion Center (IBPC) was established to offer extensive support service to potential incoming businesses through different stages in the development of the newly set up businesses.

According to Kawabata, Osaka began introducing foreign investment in the year 2001, and by 2009, the number of Chinese companies under the support of Osaka Municipal Government ( including Taiwan and Hong Kong-based companies) has reached 81, among which 17 applied for Osaka Subsidy Program.

It is widely agreed among those companies that the one-stop service of IBPC, rent-free Business Support Office and Osaka Subsidy Program play a significant role in helping them in setting up businesses in Osaka.

Kawabata said that the Chinese companies that set up business in Osaka cover a wide range from clothing, machinery and spare parts manufacturing, software development, building materials, furniture, chemical material, to publicity and advertisement, investment consultancy, etc. Among them there are large enterprises such as Haier, Bank of China, Industrial and Commercial Bank of China, Anshan Iron and Steel Company, Shanghai Airlines, Shanghai Baosight Software, as well as medium and small private companies.

For example, C&U Group, the largest bearing manufactures in China, has set up oversea company in Japan with its office on Midosuji, the main street of Osaka. Besides selling its main products, C&U also aims at setting up factories in Japan through merger and acquisition. Since its establishment seven years ago, C& U has gradually gained its fame with its products adopted by several big Japanese companies.

Source: Xinhua
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