Tokyo, Oct. 1 (Jiji Press)–The Japanese government said Thursday it plans to designate the five years beginning in fiscal 2027 as an intensive investment period and identify 17 priority sectors, such as artificial intelligence and semiconductors, in its growth strategy implementation program to be compiled at year-end. The program, to be formulated alongside the government’s budget proposal for the year from next April, is expected to include specific amounts of public and private investment for each sector. The policy was presented at a meeting of the government’s Council for Japan’s Growth Strategy, which is chaired by Prime Minister Sanae Takaichi. Priority sectors will be selected based on factors such as profitability and ripple effects, focusing on projects that effectively boost the potential growth rate. To provide predictability for private-sector companies, the government will also clarify budgetary measures spanning multiple fiscal years. The government plans to manage sectors of particular importance to economic security separately in a special account, contingent on projects that contribute to ensuring “autonomy of the socioeconomic structure,” “competitive advantage over other countries and regions” and “indispensability to the international community.” END [Copyright The Jiji Press, Ltd.]
