Kan orders plan to promote domestic investment for job security

KITAKYUSHU, Japan, Aug. 28 Kyodo -
Prime Minister Naoto Kan said Saturday he has instructed Economy, Trade and
Industry Minister Masayuki Naoshima to compile a plan to promote domestic
investment to keep manufacturing jobs as the high yen threatens the
competitiveness of export-oriented Japanese manufacturers.
''I gave the instructions so many more companies can find operational sites and
invest in this country and help foster domestic industries,'' Kan told
reporters in Kitakyushu, western Japan, where he inspected factories and met
local business leaders.
The premier said a part of the plan to spur domestic investment will be
incorporated in a set of additional economy-spurring measures to be devised by
the government next Tuesday.
In a meeting with local business leaders who called for government help for job
security earlier in the day, Kan also said the government will provide
subsidies to areas where effects of maintaining employment can be expected.
According to a survey by the Ministry of Economy, Trade and Industry released
Friday, nearly 40 percent of major manufacturers polled in Japan said they will
shift their production or development centers overseas if the U.S. dollar
remains at the 85 yen level.
==Kyodo