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(May 05, 2014) Japan's Overseas Transport and City Development Support Service Stock Corporation Act was promulgated on April 18, 2014. (Act No. 24 of 2014. The text of the bill that became the act without change is available on the Ministry of Land, Infrastructure and Transport (MLIT) website [in Japanese).) This Act aims to promote Japanese companies' participation to traffic or city planning businesses abroad, such as in the construction of urban railways, roads, and parks. (Overseas Transport and City Development Support Service Stock Corporation Act (the Act), arts. 1 & 2.) The Overseas Transport and City Development Support Service (Service) will be established in the fall of 2014. (Kaigai ko_tsu_ toshi kaihatsu jigyo_ shien ho_ ga seiritsu [The Overseas Transport and City Development Support Service Stock Corporation Act enacted], DAILY ENGINEERING & CONSTRUCTION NEWS (Apr. 14, 2014).) The government will own more than half of its stock. (The Act, art. 4.) This Service will finance overseas infrastructure projects, dispatch managers and technical experts, negotiate with foreign countries, and collect information. (Id. art. 23.) The Service will focus on infrastructure investments in South East Asia. (Kaigai ko_tsu_ toshi kaihatsu jigyo_ shien ho_ ga seiritsu, supra.) The Minister of MLIT will oversee the Service and evaluate its projects annually. (The Act, arts 34 & 36.)

Author: Sayuri Umeda More by this author
Topic: Foreign trade and international finance More on this topic
 Transportation and public works More on this topic
Jurisdiction: Japan More about this jurisdiction

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Last updated: 05/05/2014