Koizumi lauds foreign investment

Prime Minister Junichiro Koizumi on Thursday told the head of General Electric Co. of the United States that he welcomes more foreign investment in Japan, a government official said.

“Some people in Japan have a strong sense of caution about investment by foreign companies, but I take the opposite stance,” Koizumi was quoted as telling CEO Jeffrey Immelt, who is visiting Japan for a GE exhibition to be held in Tokyo. Koizumi also stressed the need for reform in Japanese industries.

“We have to create a country that has enough appeal to draw more foreign companies,” Koizumi was quoted as saying.