- This initiative is being taken by the Ministry of Economy, Trade, and Industry
- The government is expected to start an investigation to look into future prospects to bring these chipmakers to Japan
As per a report by Gizmochina, Japan is planning on attracting semiconductor companies TSMC (Taiwan Semiconductor Manufacturing Company) and Intel. The report said that the government is expected to start an investigation to look into future prospects to bring these chipmakers to Japan.
The report said that this initiative is being taken by the Ministry of Economy, Trade, and Industry. Due to the coronavirus pandemic, many economies are given more importance to foreign capitalized takeovers to provide a safeguard for local companies as per the report.
Supply chains have become vulnerable due to COVID-19
As per the report, in April 2020, the Domestic investment promotion project subsidy for supply chain measures was established with 220 Billion Yen (approx $2 billion dollars ). This budget was established during the Coronavirus outbreak to act as an emergency fund.
The report added that according to the Ministry of Economy, Trade, and Industry, the budget will be responsible for rebuilding the domestic supply chains. These supply chains have become vulnerable due to COVID-19. The report also stated that it will help in rehabilitation to bring Japanese based companies and their production back to the country.
