January 10, 2022
At an online event held jointly on January 10 (Mon.) by the Ministry of Economy, Trade and Industry (METI), the Foreign Policy Community of Indonesia (FPCI), the Economic Research Institute for ASEAN and East Asia (ERIA), and the AEM-METI Economic and Industrial Cooperation Committee (AMEICC), METI Minister Hagiuda announced the ASIA-Japan Investing for the Future Initiative, a new initiative that provides the direction for economic cooperation in Asia, with a view toward the post-pandemic era.
On January 10 (Mon.), an online event was held jointly by METI, the Foreign Policy Community of Indonesia (FPCI), the Economic Research Institute for ASEAN and East Asia (ERIA), and the AEM-METI Economic and Industrial Cooperation Committee (AMEICC). Minister Hagiuda attended as the representative from METI.
In the event, Minister Hagiuda announced the ASIA-Japan Investing for the Future Initiative, a new initiative that provides the direction for economic cooperation in Asia, with a view toward the post-pandemic era.
METI will work toward investing in the region’s future through this initiative and the Asia Energy Transition Initiative (AETI) announced in May 2021.
Outline of the ASIA-Japan Investing for the Future Initiative
The ASEAN region is facing changes due to ever faster innovation (notably due to the march of digitalization) and increasing awareness of the importance of sustainability in urban and rural areas (including problems with transportation infrastructure and other issues arising from progress of climate change and urbanization). In light of these changes, this initiative aims to actively promote new future-oriented investment (future investment) based on three principles:
(1) offer effective solutions to the reality faced by ASEAN countries;
(2) create foundation for sustainable economic society, using private sectors’ innovation to the maximum extent; and
(3) “co-create” the region’s future through collaboration with local businesses and partnership between Japan and ASEAN countries.
Specifically, the initiative will aim to strengthen investment in supply chains, connectivity, digital innovation, and human resources to bring about the following ideal images of the future:
(1) improving attractiveness of the region as a hub of global supply chain; and
(2) creating innovation to enhance sustainability and solve social challenges
