Japan’s Takaichi Orders Study to Revise Economic Security Law

Tokyo, Nov. 7 (Jiji Press)–Japanese Prime Minister Sanae Takaichi on Friday instructed a government panel to start a study to revise the economic security promotion law. The revision would make it easier for Japan to support port development and other projects overseas to strengthen its ties with partners and Global South emerging countries. The law has been put into force in stages since 2022. The government is required to review it about three years after its enforcement. For the revision, the government hopes to submit a bill at next year’s ordinary session of parliament following discussions at an expert panel. Takaichi gave the instructions at the first meeting of the Council for the Promotion of Economic Security since the inauguration of her administration last month. “We will aim for strong economic growth through bold investments for crisis management and ensure economic security further,” Takaichi told the meeting. She mentioned a plan to create a think tank to effectively implement economic security policies. Also referred to was the need to include the medical sector in the list of sectors subject to advance reviews of their planned acquisitions of vital facilities and equipment under a system to ensure stable service deliveries by core infrastructure operators. The council will discuss measures to strengthen the protection of personal information, including location, financial and genomic data, to prevent unauthorized transfers to China. END [Copyright The Jiji Press, Ltd.]