Japan will invest $75 billion across the Indo-Pacific region

Japan wants to promote a “free and open Indo-Pacific.” To that end, the country will invest billions of dollars across the region. It will aid various economies to develop and flourish. On Monday, Prime Minister Fumio Kishida announced that investment funds would be used to bolster different industries as well as prevent various disasters.

Analysts think that Japan is trying to counteract China. The latter has been trying to increase its influence over the countries in South and Southeast Asia. However, Japan also wants to assert itself in the region and gain more power than China.

Furthermore, Kishida stressed that Tokyo hopes Russia’s invasion of Ukraine to end soon. He also mentioned that the “Global South” agrees that war should end, showing its solidarity. The term – “Global South” refers to countries in Asia, Africa, Latin America, and Oceania. Kishida made that statement after he spoke with Indian Prime Minister Narendra Modi.

Japan’s Premier Minister named four pillars of the plan. What are these? 

According to Kishida, the government’s new Indo-Pacific plan has four pillars. Maintaining peace is one of them, as well as achieving global connectivity. The authorities will do that through various platforms. In addition, they will deal with various new global issues, but Japan will cooperate with Indo-Pacific countries to do that. The last goal is to ensure the safety of the open skies and seas.

Tokyo will invest $75 billion in the region. It will distribute these funds over the next seven years, with the Indo-Pacific countries receiving the last of the money in 2030. The country will invest privately, along with giving yen loans. It will also help the region through official governmental grants and assistance.

Kishida noted that the Japanese government wants to expand the cooperation of the open and free Indo-Pacific framework. He also added that more contact among countries would help to establish lasting partnerships.