DHAKA: New Tokyo governor Yoichi Masuzoe on Monday pledged aggressive deregulation drives to lure foreign talent to his city to spur growth and take back its reputation as Asia’s business hub from rivals such as Singapore.

Japan has very strict immigration policies and business has to battle reams of red tape to attract skilled workers, two factors that tend to put off global firms and foreign investors.

‘We have to import many intelligent people from abroad. We badly need young talented persons,’ he said in a press conference for foreign media, reports The Straits Times.

By working with the central government, Masuzoe promised to relax labour regulations in a planned special district of his metropolis to make it easier for foreigners to live and work.

BDST: 1815 HRS, MAY 19, 2014