Japan Eyeing Technology Fund for Economic Security

Politics

Tokyo, Oct. 17 (Jiji Press)--Japan’s economic revitalization minister Daishiro Yamagiwa on Sunday revealed a plan to set up a fund to support the development of cutting-edge technologies that are important for the country’s economic security.

“The government will fully support private-sector companies’ research and development activities for advanced technologies, and their efforts to prepare a business environment for such technologies,” he said on television.

The fund will likely be worth about 100 billion yen. The government will include the planned fund in a package of economic measures to be drawn up after the Oct. 31 general election for the House of Representatives, the all-important lower chamber of the Diet, Japan’s parliament.

The fund is expected to help Japanese companies and universities develop artificial intelligence, quantum and robot technologies, biotechnology and other important technologies, and put them into practical use.

“We cannot put the Japanese economy on a growth path unless we change the country’s industrial structure mainly through technological development,” Yamagiwa said. “Both the public and private sectors should work hard,” he added.

[Copyright The Jiji Press, Ltd.]

Jiji Press