10 Years On: Economic Growth Faltering in Disaster-Hit Areas

Economy

Tokyo, Feb. 7 (Jiji Press)--While Japan will soon mark the 10th anniversary of the 2011 major earthquake and tsunami, the economy of affected areas is showing signs of faltering.

The northeastern Japan prefectures of Fukushima, Miyagi and Iwate have been shored up economically by public investments involving reconstruction projects since being devastated by the natural disaster on March 11, 2011 and the subsequent nuclear accident.

The three prefectures, however, are seeing reconstruction demand pass its peak.

As the triple meltdown accident at Tokyo Electric Power Company Holdings Inc.'s <9501> disaster-hit Fukushima No. 1 nuclear plant continues to cast a shadow over the coastal areas, the three prefectures now face a challenge of achieving autonomous economic growth orchestrated by firms and others in the private sector.

In the town of Namie in Fukushima Prefecture, an evacuation order issued shortly after the nuclear accident was partially lifted in March 2017. Although industrial complexes have been built and restaurants have opened their doors to customers once again in Namie, there are also many empty land plots in the town, which show that some former Namie residents had their houses torn down after giving up on returning from where they have been evacuated.

[Copyright The Jiji Press, Ltd.]

Jiji Press