Keidanren's Nakanishi Eyed as Head of Expo Bid Panel Successor
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Tokyo, Nov. 24 (Jiji Press)--The Japanese government is seen proposing Japan Business Federation (Keidanren) Chairman Hiroaki Nakanishi as head of the new body that will succeed the 2025 World Exposition bid committee, sources said Saturday.
The key task of the successor body would be how to split the cost of more than 40 billion yen that the private sector is required to pay for the Expo, which will be held in Osaka, according to the sources.
The Bureau International des Expositions, or BIE, has voted to choose the western Japan city as the venue of the 2025 World Expo, sparking hopes that the event will boost the Japanese economy after the 2020 Tokyo Olympic and Paralympic Games.
The central government estimates that the Expo would generate economic effects worth nearly 2 trillion yen in total, mainly thanks to an expected increase in construction demand and the number of visitors from abroad.
Meanwhile, it is expected to cost 125 billion yen to build the venue. The costs would be split among the central government, relevant local governments and the private sector.
[Copyright The Jiji Press, Ltd.]