Japan releases IR Basic Plan

Japan's IR Basic Plan was unexpectedly released.
Japan's IR Basic Plan was unexpectedly released.

The Ministry of Land, Infrastructure, Transport and Tourism of Japan released the draft for the IR Basic Plan in an unexpected move for the casino industry.

Japan.- The Japanese casino industry will be a major hit once it lands in the archipelago. Operators and developers have been waiting for the government to enforce final regulations for a while now.

However, in an unexpected move, the Ministry of Land, Infrastructure, Transport and Tourism of Japan published the IR Basic Plan. The 46-page draft has no illustrations or charts but aims to make rules for the segment clearer, AGBrief reports.

The primary target for the government seems to be boosting tourism and the MICE industry. They intend them to enhance Japan’s international competitiveness. The Japan IR Basic Plan specifically states that developments must help the government reach its tourists goal. Such is to attract 60 million foreign tourists annually by 2030.

Still, even as it’s a step forward, there’s no timeline for the bidding process yet, as it’s still under consideration.

Japan’s IR Basic Plan kicks off a public comments period that will run through October 3.

Yokohama’s push

Japan has drawn major interest from international operators, even as its future was uncertain. However, after Yokohama decided to go after an IR bid, many parties have already set their course for the city.

Mayor Fumiko Hayashi, who had said she was a “blank slate” on a potential IR, has changed her mind. Not only she favours a bid, but she says she feels “a sense of crisis” for its development.

“I’ve decided upon an IR bid due to my sense of crisis about Yokohama’s future,” she said on Tuesday. “It’s a big national project which could become a driving force for tourism and the regional economy in Yokohama.”

The revised budget submitted to the city council includes a €2.22 million provision for IR expenses.

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