Japan Foreign Investments Third World

Japan is expected to unveil today a major new proposal for dealing with the global debt problem that for the first time would seek to reduce the amount of debt that developing countries owe rather than merely help them meet their interest payments to foreign banks.

Japan's most powerful business organization said Wednesday that its members will increase direct investment in developing countries to aid those indebted nations. The Federation of Economic Organizations said it had established two new semigovernmental groups composed of representatives of leading Japanese corporations to promote direct investment in the Third World.

Japan's most powerful business organization said Wednesday that its members will increase direct investment in developing countries to aid those indebted nations. The Federation of Economic Organizations said it had established two new semigovernmental groups composed of representatives of leading Japanese corporations to promote direct investment in the Third World.

Japan is expected to unveil today a major new proposal for dealing with the global debt problem that for the first time would seek to reduce the amount of debt that developing countries owe rather than merely help them meet their interest payments to foreign banks.