Osaka publishes draft budget of JPY 1.77 trillion (US$90 billion) with funds set aside to host the 2025 World Expo and develop an IR.
Japan.- The city of Osaka gas published a draft budget of JPY 1.77 trillion (US$90 billon) and includes funds for hosting the 2025 World Expo and developing of an integrated resort in the region.
Osaka is one of the cities leading IR race in Japan. It already confirmed MGM resorts as its request for proposal (RFP) partner and plans to have completed construction of an IR before the Expo in 2025.
“This budget is made for Osaka’s growth and to protect children. We want Osaka to continuously grow and to become an international city,” Mayor Ichiro Matsui, said.
The 2025 World Expo promotion budget increased 100% from the budget announced 12 months ago (US$3 million). Yumeshima, the artificial island in Osaka Bay that will serve as the location for the event.
Matsui said that Osaka officials were not doing anything to influence IR development policies in the country after a number of politicians were embroiled in a bribery scandal.
“In the comings and goings of politicians, you need to take responsibility for your own actions. Receiving donations and putting it into your pocket instead of declaring it is a violation of the law,” he said.