Japan is a sovereign island nation in East Asia, known and respected for their tremendous technology improvements over the years. Japan is that country that can do anything and everything possible to stand at the forefront of peer countries when technology is the question, they are so relentless and diligent in their quest for a better world through technology. Here is a good sample of what the country has in place to clarify in positive terms of their keen interest for future unstoppable growth technologically.
Japan declared their willingness to provide $40 million to the Asian Development Bank to promote high-level technology as part of efforts to boost quality infrastructure in Asia, Finance Minister Taro Aso said on Saturday.
Where to Invest; In Infrastructure
“The promotion of quality infrastructure in Asia in close collaboration with the bank has been a thing of serious consideration as far as Japan is concerned and is very action oriented about it,” Aso told the ADB’s annual gathering in Yokohama. “The growth of the nation as cited under the corridors of Japan does not just include, Education, Health or the likes, but could vividly involve enhancing quality of infrastructure in terms of life cycle cost and environmental and social environments.” The money for this project will be provided over a two-year period to a newly created fund of the ADB, he said.
Why Japan Needs to Invest
Aso’s remarks came as China’s increasing presence in infrastructure finance has alarmed some Japanese policymakers, who worry that Beijing-led Asian Infrastructure Investment Bank (AIIB) may overshadow the Japan-U.S.-led ADB.
The AIIB is viewed by some as a challenge to both the Western-dominated World Bank and the ADB, which is primarily funded by Japan and the United States. Partly to differentiate itself, the ADB has broadened its activities beyond infrastructure such as financing of steps for poverty reduction, health care, and education. ADB President Takehiko Nakao told the annual gathering that investment in infrastructure would remain a priority.
The announcement of Japan, to provide $400 million for Infrastructural boost, came through the Finance Minister Taro while delivering a speech during the opening session of the Asian Development Bank board of governors in Yokohama
“Asia will need $1.7 trillion per year in investments in power, transport, telecommunications, and water through 2030, this will be a very good environment for business owners who might be looking for the field to invest their money for a good return in the near future. On Thursday, Nakao said the ADB would cooperate with China’s development finance and infrastructure plans under its “One Belt, One Road” initiative, shrugging off the view Japan and China are competing for influence through finance development.