Japan to Set Up Legal Framework to Support Chip Sector

Politics

Tokyo, Nov. 15 (Jiji Press)--The industry ministry Monday disclosed a basic strategy to revive Japan's semiconductor industry, including a plan to establish a legal framework to facilitate support for the sector.

The framework will enable the government to provide continuous support to the sector over multiple fiscal years, including through subsidies.

The measure is in the first of the three phases of the basic strategy extending into the 2030s, which was shared at the day's review meeting for the sector's revival.

In the first phase, the ministry aims to secure domestic capacities to produce cutting-edge semiconductors by attracting new plants.

Assistance measures based on the strategy are expected to be included in the government's economic package to be adopted Friday.

[Copyright The Jiji Press, Ltd.]

Jiji Press