Japan Plans to Invest US$75bn to Counter China in Indo-Pacific
Editor
21 March 2023 14:15 WIB
TEMPO.CO, Jakarta - Japan's Prime Minister Fumio Kishida announced a new plan to invest billions of dollars in the Indo-Pacific economy to the region's economy in all aspects from industry to disaster prevention. Japan pledged US$75 billion or around Rp1.1 trillion to the region by 2030 via private investment and yen loans. Tokyo also seeks to boost aid through official governmental assistance and grants.
The initiative, launched amid China's growing influence in the region, was made during his visit to India on Monday, March. 20.
Kishida said there were four "pillars" in Japan's new Indo-Pacific plan: maintaining peace, dealing with new global issues in cooperation with Indo-Pacific countries, achieving global connectivity through various platforms, and ensuring the safety of the open seas and skies.
"We plan to expand the cooperation of the free and open Indo-Pacific framework," Kishida told the Indian Council of World Affairs.
He emphasized the increasing connectivity among countries and promoting freedom of navigation, with an eye on increasing maritime defense and security among like-minded countries.
This is Tokyo's way of forging stronger ties with South and Southeast Asian nations to counter China's increasing military presence in the Indo-Pacific and accelerating its navy while promoting its Belt and Road Initiative.
"We aim to increase the number of options each country has so that they can overcome these vulnerabilities and achieve further economic growth through connectivity," PM Kishida added.
After a dialogue with India's Prime Minister also Narendra Modi, Kishida also said that Japan wants to stop the invasion by Russia as soon as possible. He called for the international community, including the Global South countries, to show solidarity.
Japan India, Australia and the United States—members of the Quad group created to balance China's growing dominance—will participate in the annual naval war-gaming exercise Malabar to be held in Australia this year.
"We will conduct joint maritime exercises with India and the United States, as well as goodwill exercises with ASEAN and the Pacific Islands," Kishida said.
REUTERS
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