Revision of the Foreign Exchange and Foreign Trade Act as of 2020
Oct 25, 2020
This is a non-official English translation of a press release from the Ministry of Finance of Japan concerning the Revision of the Foreign Exchange and Foreign Trade Act
June 15, 2020
Ministry of Finance
Ministry of Health, Labour and Welfare
Ministry of Economy, Trade and Industry
Addition of industries subject to prior notification for inward direct investment, etc.
Manufacturing industries related to medicines for infectious diseases and highly controlled medical devices will be added to the core industries for inward direct investment
Outline of Amendment
In light of the recent spread of the new coronavirus infection, from the perspective of maintaining the domestic manufacturing base of the medical industry, which is important to the lives and health of the nation’s people, and appropriately preventing situations that may have a serious impact on Japan’s security, human life or health, the following Revision of the Foreign Exchange and Foreign Trade Act has been made.
Manufacturing of pharmaceuticals for infectious diseases (including pharmaceutical intermediates)
Manufacturing of highly controlled medical devices (including accessories and parts)
From the viewpoint of appropriately preventing the situation in which an infectious disease may occur, the Government of Japan has decided to take necessary measures such as adding the manufacturing of pharmaceuticals for infectious diseases (including pharmaceutical intermediates) and the manufacturing of highly controlled medical devices (including annexes and parts) to the core industries among the designated industries that require prior notification under the Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949).
Relevant revised public notices
Notification pertaining to Designated Industries] [Notification pertaining to Designated Industries
Partial Amendment to the Provisions Concerning the Designation of Business Types Specified by the Minister of Finance and the Minister Having Jurisdiction over the Business Pursuant to Article 3, Paragraph 3 of the Order on Inward Direct Investment, etc. (June 2020, Cabinet Office, Ministry of Internal Affairs and Communications, Ministry of Finance, Ministry of Education, Culture, Sports, Science and Technology, Ministry of Health, Labour and Welfare, Ministry of Agriculture, Forestry and Fisheries, Ministry of Economy, Trade and Industry, Ministry of Land, Infrastructure, Transport and Tourism, and Ministry of the Environment Bulletin No. 10)
Notification pertaining to core industries] [Notification pertaining to core industries
Partial Revision of the Ordinance on Determination of Business Categories. Specified by the Minister of Finance and the Minister Having Jurisdiction over the Business Pursuant to Article 3-2, paragraph (3) of the Order on Inward Direct Investment, etc.
Points to be noted in the revised notification
The revised Industrial Notification shall apply to inward direct investment to be made on or after July 15 after the 30-day transitional period.
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