The Hon. Lily D'Ambrosio MP – travel report, Japan, October 2015

*The above costs are not final and complete

Purpose of travel (aims and objectives)

I travelled to Japan to meet with Toyota and the Governor of Aichi Prefecture, and to attend the Japan Australia Business Council Conference (JABCC). During the conference I met with significant Japanese investors in the state and promoted Victoria to prospective new investors.

The recent signing of the Japan Australia Economic Partnership Agreement has created greater opportunities for Victoria to attract more investment from Japan.

I sought to confirm the strong relationship between Victoria and Japan and capitalise on the current interest in investing in Australia, positioning Victoria as a destination for this investment.

• I met with the General Manager for East Asia & Oceania Division, Toyota and visited the company's design centre to discuss Toyota's future operations in Victoria.
• I met with the Governor of Aichi Prefecture, followed by a dinner with the Vice Governor, as part of a program of reciprocal engagement to honour the 35^th anniversary of the Victoria-Aichi sister-state relationship.
• I attended the 2015 JABCC conference in Fukuoka, Japan. The conference attracts approximately 500 delegates comprising senior management of almost all Japanese investors in Australia and senior political representation from both Japan and Australia. As part of the conference:
  • I participated in a number of individual meetings with major Japanese companies in which I discussed the business environment in Victoria and potential investment opportunities for Japanese companies.
  • Companies I met with included Kawasaki Heavy Industries, Mitsubishi Corporation, Mitsui and Co, Bank of Mitsubishi Tokyo UFJ, Mizuho Bank, Japan Airlines and Sumitomo Mitsui Banking Corporation.
  • I met with senior representatives of the Japan Bank of International Cooperation (J-BIC), a Japanese Public Financial Institution. J-BIC is responsible for providing finance to Japanese corporations investing overseas.
  • I co-hosted (with the Treasurer) a Victorian Investment and Industry Update Breakfast. Attendees included senior representatives of Japanese companies with operations in Victoria, prospective Japanese investors and Australian companies with significant operations in Japan.
  • I met with Commonwealth officials to discuss Commonwealth-State cooperation in investment attraction. These meetings included the Australian Ambassador to Japan and the head of Austrade.

Benefits of travel to the state of Victoria

My visit reinforced the Victorian Government's commitment to forging enduring and positive links between Victoria and Japan, where there is great potential for investment by Japanese companies in Victoria.

• In meeting with the General Manager for East Asia & Oceania Division, Toyota, I discussed the company's current activities and their contribution to Victoria, including the consolidation of the company's Sales and Marketing Offices, creating around 300 jobs in Victoria.
• In meeting with the Governor of Aichi Prefecture, I reaffirmed Victoria's commitment to the Victoria Aichi sister state relationship and its role in promoting cooperation in areas of government to government dialogue, economic cooperation in areas of trade and investment, and people to people and cultural links.
• I also discussed with the Governor options for Victoria to work with Aichi in progressing mutual opportunities in the manufacturing sector. Aichi Prefecture is known as the manufacturing base of Japan and is home to high-tech industries such as automobiles, machine tools, and aerospace, and more traditional areas such as the textile and ceramic industries. The meeting reinforced the ongoing relationship with Aichi and the mutual benefits it presents to the respective sister states.
• I promoted Victoria's economic credentials, the stability of government finances, the state's infrastructure pipeline and experience in partnering with the private sector in the delivery of infrastructure.
• I outlined the opportunities in Victoria for Japanese companies and highlighted how the recently signed Japan-Australia Economic Partnership Agreement provides a particular focus on health, food and fibre, medical technologies, professional services, new energy technologies, transport, defence and construction.
• In individual meetings with Japanese companies I was provided with updates on Japanese business activities in Victoria and discussed new potential investment and reinvestment opportunities.
• These meetings allowed me to establish personal relationships with Japan-based representatives of key investors in Victoria and encouraged key executives and decision makers to consider further/new investment opportunities.
• In meetings with senior representatives of Japanese financial institutions, I outlined infrastructure opportunities (Melbourne Metro, The Port of Melbourne sale and Level Crossing Removals) in Victoria and opportunities for Japanese companies and financiers to participate in the financing and delivery of this infrastructure.
• I obtained briefings on the key initiatives and policy focus of the Commonwealth Government, in Japan and opportunities for collaboration in investment attraction activities.