LONDON, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Economic revitalization minister Daishiro Yamagiwa announced a plan to establish a fund to promote the development of cutting-edge technologies vital for the security of Japan's economy.
"The government will fully support private-sector companies' research and development activities for advanced technologies and their efforts to prepare a business environment for such technologies," he said during a live media broadcasting.
"We cannot put the Japanese economy on a growth path unless we change the country's industrial structure through technological development. Both the public and private sectors should work hard," Yamagiwa added.
Since the announcement, MB Partners has experienced an influx of investors seeking to boost their portfolios with Japanese technology assets. The company expects the level of allocation into technology to further continue as investor confidence continues to grow following another year of extensive volatility.
Japan's planned technology fund is expected to be worth around ¥100 billion. The government will include the fund in a package of economic measures that will be drafted following the Lower House election on October 31.
The fund is designed to help Japanese companies and universities develop and implement artificial intelligence, quantum and robot technologies, biotechnology, and other bleeding-edge technology.
The government also hopes to prevent outflows of researchers and technology through the planned fund. Despite its advanced research infrastructure, Japan has struggled to retain its talent, partly owing to a shortage in funding. In addition, the country faces the risk of foreign competitors acquiring undercapitalized businesses.
MB Partners is a respected financial services company headquartered in Tokyo, Japan, with an extensive research office in London, United Kingdom. The company's workforce comprises seasoned investment advisors, research analysts, and other financial specialists who collaborate to offer industry-leading financial solutions to a global client base.
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