Japan adds Bangladesh and India to 'China exit' subsidy destinations
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Dhaka, Sept. 4 -- Japan's supplementary budget for fiscal 2020 earmarked 23.5 billion yen ($221 million) for companies that move production to Southeast Asian nations. When the Ministry of Economy, Trade and Industry opened up a second round of applications on Thursday, it added "projects that contribute to the resilience of the Japan-ASEAN supply chain" to the list of qualifying moves, eyeing relocations to countries such as India and Bangladesh.
Manufacturers can receive subsidies for feasibility studies and pilot programmes. The total amount granted is expected to run into the tens of millions of dollars, according to the Nikkei report.
The programme aims to reduce Japan's reliance on a handful of links in its supply chains, particul...
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