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Our aim is to revitalize Tokyo as a global city capable of competing with cities in other countries by attracting more international companies.

11 Comments

Tokyo metropolitan government spokesman, referring to 22 redevelopment projects in central Tokyo wards designated as national strategic special zones to make the city more attractive for global businesses. (Yomiuri Shimbun)

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Tokyo is fortunately not an international city, which is why many of us are here.

A former colleague took a job in "international" Singapore. He gave up his 2 LDK apartment in Minato-ku to share a tiny flat in Singapore, even though he is now in a more senior position at a higher salary.

Why? Because Singapore's property is unaffordable and skyrocketing, largely due to its influx of wealthy and super wealthy expats and other foreigners. Tokyo and its population couldn't handle this.

0 ( +1 / -1 )

Until they remove or streamline much of the bureaucracy with regard to import/ export, administration, delivery and customs, accommodation, rent, and financial services; national strategic special zones will not make the city more attractive. It's already quite easy to set up a business in Tokyo compared to other countries, it's just harder to run one successfully.

3 ( +4 / -1 )

Tokyo is one of the 5 "world cities" in my opinion. And one of the things that makes it so is its unique culture and approach to so many things. I don't think it should aspire to attracting more international companies (aren't there enough here already?/).

-5 ( +0 / -5 )

Yeah, make Tokyo bigger and let the rest of the country rot even more.

2 ( +2 / -0 )

@Kaerimashita

Tokyo is one of the 5 "world cities" in my opinion. And one of the things that makes it so is its unique culture and approach to so many things.

Culture is one thing - corporate culture is an entirely different ball game. As wanderlust mentioned, Tokyo will never become an international business hub as it's hampered by 'the old boys' club' corporate world. Not to mention the headline statement coming from a Tokyo Metro Govt. rep - have you been to any government buildings here? Ward offices? About as antiquated & inefficient as you can get.

Never going to happen. The culture runs too deep.

1 ( +1 / -0 )

Singapore has one of the lowest tax rates on earth, Tokyo has one of the highest. In Singapore foreign companies can compete on a level field, in Japan foreign companies have to compete with Japan Inc, and a government which covets amakudari jobs in Japan Inc's board rooms.

As for real estate prices, if you go back to Tokyo's heyday in 1989, the Chuo Ward had a higher land value than the combined lower 48 United States. Japan's current real estate prices are about what they were in the early 80's, and, ironically enough, salaries are about the same too. Real estate in Singapore is expensive, and it is so because of demand. And the demand exists because Singapore is a place where people and companies can make money. 50 years ago Singapore rated as one of the world's poorest countries. Tariffs were abolished, taxes slashed, red tape eliminated, and English was made the official language. If you look at Singapore now, you can see that it has come a long way, it appears that the decisions they made were the right ones.

I am not sure what Tokyo has to offer foreign companies. Japan's falling population guarantees lower sales and revenue every year. Japan has nothing the way of natural resources, Japan's universities turn out uneducated drones who are not prepared to work in competitive foreign companies. Japan's insular business practices, and longstanding tradition of dealing with each other instead of foreign companies is not much of an attraction either.

Japan really needs foreign companies and investment to come in, but foreign companies don't need Japan. They are going to Singapore, Kuala Lumpur, and Ho Chi Minh city.

2 ( +3 / -1 )

"Tariffs were abolished, taxes slashed, red tape eliminated, and English was made the official language... it appears that the decisions they made were the right ones."

Most Singaporeans would probably disagree. A 2012 survey showed that a majority of the roughly 2000 Singaporeans surveyed said they would migrate if given a choice.

-1 ( +1 / -2 )

Most Singaporeans would probably disagree. A 2012 survey showed that a majority of the roughly 2000 Singaporeans surveyed said they would migrate if given a choice.

If you read your poll more closely you'll find that half of Singaporeans strongly agree that ther government is doing a good job, only 8% strongly disagree. You won't find many governments that highly rated by their people, least of all America or Japan.

But polls are generally irrelevant, any skilled pollster can create a poll which shows whatever the pollster wants it to show.

2 ( +3 / -1 )

That is a silly aim. Tokyo is massively overcrowded.

2 ( +2 / -0 )

@Sangetsu

"But polls are generally irrelevant..."

They are very relevant in Singapore. The govt owns ALL the domestic mainstream media -- a sweeping piece of socialism your fantasy analysis of Singapore's economic conditions omitted. So hearing from the people - without the state-controlled filter-- is useful.

In fact, some of Singapore's most successful corporations, like Singapore Airlines, are owned or majority-ownen by the govt. It's socialism, baby!

There is also all the red tape you don't seem to know about that smothers many basic freedoms. Private Singaporeans are barred from owning sateillite dishes, to cite just one of many freedom-depriving examples. No wonder most people want to get out.

"Singapore has one of the lowest tax rates on earth, Tokyo has one of the highest."

Singapore is just a city, where most residents are bottled up in dense communal tiny blocks. Japan has thousands of communities spread throughout a mountainous archipeligo, including tiny islands and on mountains, where the govt is required to provide infrastructrure, healthcare, schools, and all sorts of services. That costs money. Lots of money.

If Tokyo were a country, its taxes would be a lot lower. That's because its corporate sector is nearly all in the hands of the private sector....unlike in Singapore.

0 ( +0 / -0 )

There is certainly much more on offer in Singapore for foreigners than here in Japan....

1 ( +1 / -0 )

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