Minister Vows to Strengthen Strategic Goods Supply Chains

Politics

Tokyo, Oct. 15 (Jiji Press)--Japanese economic security minister Takayuki Kobayashi has expressed his resolve to strengthen supply chains for strategic goods such as semiconductors and rare earth minerals.

The key tasks in economic security include "the protection and development of important technologies and the strengthening of supply chains," Kobayashi said in a recent media interview.

"Semiconductors and rare earth minerals are among important strategic goods. We'll (strengthen supply chains) for them simultaneously without prioritizing one over another," Kobayashi added. He assumed the newly created post of economic security minister in the cabinet formed by Prime Minister Fumio Kishida on Oct. 4.

The novel coronavirus crisis has exposed a lack of government support for private-sector developers of medicines, he observed.

"It is important, also from the perspective of economic security, to keep improving domestic technologies to develop vaccines and medicines so that other countries will rely more on Japan in emergencies," Kobayashi said.

[Copyright The Jiji Press, Ltd.]

Jiji Press