Japan Integrated Resort (IR) application process to be postponed Posted On 14-10-2020

According to local media, Japanese authorities will announce the extension of the application period for IR bids.

Japan.- The Japanese government is likely to put back the application period for integrated resort bids by up to a year.

Local media reports that the government is preparing to announce the postponement due to delays caused by the Covid-19 pandemic.

Kyodo nws agency says national authorities have decided to postpone the process until at least next autumn.

The decision will put back the eventual opening of the complexes, which had been expected to complete in the middle of the decade.

Prefectures that have already expressed their intention to bid are: Yokohama, Osaka, Wakayama and Nagasaki. (10/09/2020 Focus Asia Pacific)

https://focusgn.com/asia-pacific/japan-ir-application-process-to-be-postponed

Osaka: casino resort project suspended due to Covid-19 Posted On 14-10-2020

Osaka city was expected to develop its integrated resort project this year but the current situation has halted all plans until further notice.

Japan.- Osaka prefecture has confirmed to local press that it has suspended the process for developing a casino complex in the city due to the Covid-19 pandemic.

The governor Hirofumi Yoshimura said: “Under the coronavirus situation, the process related to the IR has been suspended from the time when previously the prefecture and city announced the postponement of the RFP [request-for-proposal] submission deadline, on June 23.”

He added: “The prefecture and city together with MGM Resorts International have maintained its positive, forward-looking stances on Osaka IR.”

As has already been reported, MGM Resorts partnered with Japanese financial services group Orix Corp to develop a bid for the IR complex.

According to analysts, casino liberalisation in Japan has been halted not only by the Covid-19 pandemic but also because of the national government’s delay in issuing its basic policy on IRs.

Yokohama prefecture has already announced it will postpone its IR project until further notice while it waits for the national government’s directions to draw up its local implementation policy.

At the moment, legislation says it will be permitted to open a maximum of three casino resorts in Japan and that local governments interested in hosting a resort must choose a private-sector partner then apply to the national government to have one. (Focus Asia Pacific 08/26/20)

https://focusgn.com/asia-pacific/osaka-casino-resort-project-suspended-due-to-covid-19

Fukuoka City Encourages Businesses To Move to Fukuoka on Trial Basis Posted On 01-10-2020

Reflecting on the increased interest in rural relocation, Fukuoka City is collaborating with two co-working spaces and a resort hotel on offers of discounted rates for those who try out living and working in Fukuoka. IT companies (Web services, digital content productions, software developments etc.) which agree to provide feedback to the city about their relocation experience are eligible for the program. Application is required two weeks in advance to travel to Fukuoka.  Source: Fukuoka City / PR times

 (Inquiry: 092-711-4336/ invest@city.fukuoka.lg.jp 福岡市経済観光文化局 創業・立地推進部企業誘致課)

Co-working spaces: SALT, The Company

Hotel: The Luigans Spa & Resort

https://www.fukuoka-now.com/en/news/fukuoka-city-encourages-businesses-to-move-to-fukuoka-on-trial-basis/

Fukuoka City Waives Company Registration Fee To Encourage Startups Posted On 01-10-2020

Fukuoka City continues to support new startups by waiving company registration fees. The city has received an increasing number of inquiries about launching new businesses between April and August 2020; it aims to accelerate the trend by subsidizing ¥30,000 ~ ¥75,000 of the registration costs. Using the program plus the city’s “designated business creation aid program (特定創業支援等事業),” some may establish their businesses without bearing any registration fees. Source: Fukuoka City / NHK

https://www.fukuoka-now.com/en/news/fukuoka-city-waives-company-registration-fee-to-encourage-startups/

Fukuoka and Kansai Named as Candidates for Global Financial Center Posted On 25-08-2020

The national government is considering developing new global financial centers in Fukuoka and the Kansai area. While the country had formerly worked to create such a district in Tokyo, recurring natural disasters and the new coronavirus pandemic triggered a policy shift to decentralization. The government is working to appropriate special budgets for the fiscal year of 2021 and to support the invitation of international financial institutions and law firms’ invitation.  Source: Tokyo NP

https://www.fukuoka-now.com/en/news/fukuoka-and-kansai-named-as-candidates-for-global-financial-center/