The government has decided to establish a system under which major banks will dispatch current and former employees to regional financial institutions, such as banks, and local companies, in an effort to support the revitalization of regional economies.
The government aims to dispatch thousands of personnel, capitalizing on their expertise to drive growth in regional areas.
Funding for the new system will be included in an economic stimulus package to be compiled in December, with about 3 billion yen earmarked in the proposed third supplementary budget of fiscal 2020.
The publicly and privately funded Regional Economy Vitalization Corporation of Japan (REVIC) will run the system.
Regional banks and other institutions will request the dispatch of personnel based on a list of staff registered with major banks including Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.
REVIC provides tailored training based on work details and regional features.
In case of any wage discrepancies between the two work locations, the government will make up the difference in compensation for the time being.
The government is also hoping employees dispatched to regional financial institutions and companies will continue to work in those positions over the long-term. The aim is to create a flow of workers from urban to regional areas in a bid to rectify overconcentration in Tokyo and revitalize regional economies.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
