For Immediate Release
Office of the Press Secretary
June 30, 2001
Statement by the Deputy Press Secretary
The President today received a Department of State report presenting
the views of U.S. and Japanese business leaders on Japan's environment
for foreign direct investment (FDI). The report was prepared jointly
with Japan's Ministry of Economy, Trade and Industry (METI) which has
also conveyed the findings to the Prime Minister of Japan.
The report to the President details specific proposals to further open
Japan to foreign direct investment, and recognizes significant
improvements over the last year in Japan's laws and regulations
regarding bankruptcy, accounting, corporate restructuring and labor
mobility. These changes are now facilitating an unprecedented
restructuring of the Japanese economy. U.S. FDI in Japan contributes
to Japanese restructuring and provides U.S. firms the platform to boost
the sales of U.S. goods and services to the Japanese market.
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