Japanese employers will offer job opportunities to 50,000 highly skilled Asian professionals in digital technology and other in-demand fields under a government initiative announced Monday.

Competition for talent is only heating up across the continent, particularly in the fast-growing members of the Association of Southeast Asian Nations. The Asia-Japan Investing for the Future Initiative is designed to help Japanese companies secure the workers they need to better compete in booming business areas.

Japan wants to "offer opportunities for ambitious youth," said Koichi Hagiuda, minister of economy, trade and industry, in an online event Monday while visiting Indonesia.

Under the new initiative, the government will work to expand the number of degrees offered jointly by universities in Japan and abroad. Japanese employers will be encouraged to hire graduates of these programs and other skilled professionals over the next five years.

The government will also create more opportunities for foreign alumni of Japanese universities to participate in internships and information sessions by potential Japanese employers.