Japan to Boost Regional Economies through Industry Clusters

Tokyo, July 21 (Jiji Press)–The Japanese government on Tuesday adopted a strategy that aims to build strong regional economies by creating industrial clusters in each regional bloc and attracting large-scale investment to the areas. The government’s comprehensive strategy for regional revitalization compiled last December was updated to create the new strategy, which covers a period through fiscal 2030 and places more emphasis on strengthening regional economies. The region-by-region industry clusters will be established by the central government based on the 17 strategic fields pushed by Prime Minister Sanae Takaichi, including artificial intelligence and semiconductors. In addition, the regional future strategy calls for programs led by prefectural governments and municipal programs designed to make better use of local resources. The strategy said the central government will consider securing additional budgets and expanding subsidies to support public-private investment and infrastructure development. It added that the government will work to eliminate areas without sufficient transportation infrastructure and increase the so-called connected population, or nonresidents who maintain steady interaction with regional areas. END [Copyright The Jiji Press, Ltd.]