Greater Nagoya encourages foreign investors
Monozukuri is a Japanese word that literally translates to “the making of things” in English. However, a more complete definition would be “the art of making things in the spirit of research and creativity.” Greater Nagoya, the area within a 100km radius of Aichi’s capital Nagoya, is the monozukuri capital of the world.
Responsible for generating more than one percent of global GDP, Greater Nagoya encompasses some of the world’s top clusters of cutting-edge industry, IT and other advanced sectors including pharmaceuticals and biotechnology. Now, it has its doors wide open to international businesses or investors who want to infuse their operations with the unique spirit and opportunities that this powerful area presents.
With a highly internationalized economy, leading companies operating in the region like Toyota, Honda and Mitsubishi are always on the lookout for new international partners to help them develop business offerings.
The Greater Nagoya Initiative Center (GNIC) was established in 2006 to globally showcase the opportunities that the area has to offer and to further attract FDI. The GNIC also facilitates investment, acting as a one-stop shop for foreign companies and offering business support to its members.
The Nagoya government has also introduced subsidies, incubation facilities equipped with product research and development tools, and a variety of business support programs designed to assist businesses entering the market.
Fumio Kawaguchi, Chairman, Greater Nagoya Initiative Center (GNIC)
What makes the Greater Nagoya region an ideal base for international businesses?
In manufacturing you need a good labor force, and we are blessed with just that. Any industry needs water, and we happen to have three rivers in the area, so we are blessed with abundant resources. We also have a great port, and having worked at port facilities myself I know how vital they are for distribution. All these elements are necessary conditions to establish any industrial site. And there is one more thing to consider: the region should have good schools and universities because that is a good incentive to set up a business. There should be partnerships between business and academia, and we can do those because we have a very good higher education center, Nagoya University, with excellent science and engineering departments. Historically, we have been able to adapt our industries in order to make anything required by society. Now, we are in an aging society, in Japan and other nations, and this means that medical equipment, robotics and caregiving will become very important industries.