Support for Ukrainian Reconstruction

The government of Japan held the Japan-Ukraine Economic Reconstruction Promotion Conference in Tokyo on Monday, with attendance of Ukrainian Prime Minister, Denys Shmyhal. Japanese Prime Minister, Fumio Kishida, pledged “investment in the future” of Ukraine, expressing comprehensive economic support to Ukraine through public-private cooperation. While Ukraine welcomed Japan’s contribution to economic revitalization, even though it did not include military support, growing fatigue on supporting Ukraine may disturb private investment. 

In the meeting with Ukrainian President, Volodymyr Zelenskyy, last March, Kishida reconfirmed Japan’s commitment on recovery and reconstruction of Ukraine, sharing the importance of private sectors in the process. Kishida established a team in his Cabinet for preparing an economic conference last May. The conference was held at Keidanren Hall in Tokyo, the headquarters of Japan’s biggest association of corporate managers, with attendance of about three hundred business people.

 

In the keynote speech, Kishida insisted on the importance of three principles: partnership, knowledge and technology, and explained his commitment for promoting Japanese private investment. The measures decided along with the conference included the tax convention which would ease tax on Japanese company having business in Ukraine, review of bilateral investment treaty, and establishing an office of Japan External Trade Organization (JETRO) in Kyiv.

 

Japan is going to support Ukraine’s reconstruction in various ways. They include a post-war effort of removing mines in the battlefield or disposal of debris produced by brutal offenses by Russia. Japan has taken part in mine sweeping in peace-keeping operation of United Nations in South Sudan, or experienced dealing with huge amount of debris in East Japan Great Earthquake in 2011. Medical assistance, electric power supply, agriculture, digital technology, infrastructure for transportation, or prevention of corruption should be other items for cooperation.

However, assuring security of workers is a key issue for private corporations planning new investment in Ukraine. Some companies may consider negative effect of investment in Ukraine in their business with Russia. “You can’t be fatigued when you’re fighting for your future, for your life, for our mutual security,” said Shmyhal in his press conference in Tokyo the day after. However, there actually is uneasiness for Japanese investors on prolonged war in Ukraine.

 

Japan and Ukraine share experiences of nuclear disaster, both in Chernobyl and Fukushima. “Ukraine and Japan are both two countries survived through the nuclear catastrophe,” said Shmyhal. Russia still occupies the nuclear power station in Zaporizhzhia nuclear power plant. But, Japan seems to have no measure to secure the plant from tragic breakdown so far.

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