Business buildings are pictured in Tokyo, Japan, December 7 , 2020. REUTERS/Kim Kyung-Hoon
TOKYO, Sept 2 (Reuters) – Japan announced on Thursday a list of initiatives it will focus on to promote green technology and digitalisation, as part of efforts to boost the economy’s long-term growth.
The outline, drawn up by a panel to debate Japan’s growth strategy, will likely serve as a backbone for any new stimulus package the government may compile later this year.
It also comes ahead of the ruling party’s leadership race that Prime Minister Yoshihide Suga must win to stay on and pursue his policy initiatives.
In the outline, the government laid out areas that need closer scrutiny in coming months, from among a list of steps included in Suga’s growth strategy that was unveiled in June.
Among them were steps to expand production for electric car batteries and build more charging station for them, as well as support to attract semiconductor plants in Japan.
The list also included steps for digital transformation of public services such as medical care, the outline showed.
Economy Minister Yasutoshi Nishimura said the government wanted to consider concrete policy steps as the world is undergoing major changes.
“There are many (items) that could be included if there were to be discussions about an economic package in the future,” Nishimura told reporters.
Japan’s economy emerged from last year’s coronavirus-induced slump helped by an export rebound. But analysts expect any further recovery to remain modest, as a surge in infections at home hurt consumption.
The government hopes to raise Japan’s long-term growth by boosting labour productivity and the participation rate.
In the growth strategy announced in June, the government also called for stimulating innovation and digital transformation, but the plan’s fate could be in trouble with Suga’s political standing wavering ahead of elections.
(This story corrects to remove reference to Suga being Japan’s head of state in paragraph 3)Reporting by Daniel Leussink and Kantaro Komiya; Editing by Jacqueline Wong
Our Standards: The Thomson Reuters Trust Principles.
The pending deal would connect asset-backed financing with its tokenization business, but market-size figures do…
The automotive-parts supplier ends its interim leadership arrangement more than a month ahead of the…
A joint ministerial statement calls for sectoral discussions and an end to market-distorting policies, without…
Wärtsilä’s 35-megawatt storage project pairs batteries with energy management and maintenance, with takeover expected in…
The federal contractor reports customer expansion and retained work, but contract ceilings and unexercised options…
Stamford is set to become the American base for one of Europe’s most ambitious fintech…