JAPAN-THAILAND MILLENIUM TOWN (JTMT)
will be an innovative and sustainable town established to promote international cooperation and sustainable development,.
It is a town located in the Greater Bangkok region that will be a culturally diversified, socially interdependent, safe, caring and economically sustainable “city” in Thailand.
A. The Japanese Government
By having retirees come to live in MT and start a new life outside Japan, the Government of Japan will benefit from reduced burdens of securing and providing aging facilities, having to build more hospitals and healthcare centers and relocate or train more nurses and doctors as well as healthcare professionals from other countries to take care of an increasing number of retirees who will eventually become a dominant age group in Japan. Since Japan is a country where space is limited, building large and fully-functional facilities for the aged will only add more problems than solutions. Furthermore, with the high cost of living and an already acute shortage of nurses and healthcare professionals, the Government of Japan will certainly find that relocating health care services to MT is a better alternative for managing the retirees and elderly. Moreover, since the cost of hospitals and medical care in Japan is much higher than in other Asian countries, the Japanese Government will find that exporting health care services to serve its nationals outside Japan and in the Japan Town is surely a better alternative to manage the national health insurance payout plan, which the Government of Japan normally has to pay directly to the hospitals through its national health insurance system.
In addition to the cost savings for healthcare and medical treatment, the Government of Japan will also benefit from increased income tax collection from the retirees who migrate to live and work in MT.
Instead of extending the retirement age from its current standard of 60 to 65 years old and paying higher costs for additional years of employment for the executive group, Japanese corporations who invest in the MT project can certainly work out a scheme to rehire the retirees to work for their companies at a lower rate and save on the cost of human mobilization and training. They will also benefit from the expertise, skills, knowledge, and experience of the retirees, for each retiree will certainly have the required qualifications that any Japanese company will need to advance their business outside Japan and in the AEC.
B. Japanese corporations both in Thailand and Japan
As noted earlier, with the regional economic integration mechanisms of the AEC beginning this year, now is the optimal time to invest in Thailand and Southeast Asia: Japanese corporations will continue to relocate outside Japan and further invest in the Asian market, comprised of approximately 1 billion people (ex-China). With the accumulated knowledge and rich experience that they have gained throughout their working lives, the retirees can be a fruitful and beneficial workforce for many private Japanese corporations relocated to Thailand . The cost of hiring will be lower for these retirees, rather than hiring thousands of Japanese expatriates, which greatly increases the needed scale of investment. In return, the retirees will earn incomes at a special rate, continue to receive pensions from the government, which can continue to collect income taxes from the retirees.
C. Japanese professional retirees
By relocating to Thailand, active retirees can continue to live much more comfortably and enjoy a better quality of life than in Japan, where the limited income from government pensions and severe resource constraints (cost of living, scare housing opportunities) have made retiring comfortably in Japan out of reach for many.
Retirees who receive fixed incomes in the form of government pensions will be offered a great opportunity to live in an environmentally-friendly, safe, and convenient setting that will be similar to Japan and culturally comfortable for Japanese retirees. whocan continue to enjoy the life style they are familiar with but with better quality of life and lower cost of living. In addition, they will be afforded an opportunity to work either part-time or full-time, depending on the retirees’ preference. These Japanese seniors will be able to enjoy their retirement in a new light while making a contribution to the society and to the two countries. Against the old belief that retirees are the passive workforce of the country and, even worse in some countries, the burden of the government and society, Japanese retirees are offered a new opportunity to stay active after retirement by re-starting a second career. They can utilize their strengths (extensive knowledge, rich experience, and multiple skills) that they have acquired over a lifetime to engage in new employment opportunities with Japanese corporations invested in Thailand and in the AEC.
Instead of tightening their belts and struggling simply to make ends meet with a nominal pension (approximate $2,000/month) in Japan, where the high cost of living has deprived them of a better quality of life, with quality private housing and “second-career” employment scarce, retirees living in the town in Thailand will find themselves again active at their own pace through starting up new businesses or re-engaging themselves with Japanese corporations that have already invested or will invest in Thailand or the AEC. Their experience, knowledge and skills will become fruitful again through engaging with business or employment in the fields of human development training centers, R&D, consultancy and advisory services to both Thai government agencies who seek Japanese experts and Japanese corporations/investors in Thailand.