Japan Panel Compiles Proposals on Economic Security Bill

Politics

Tokyo, Feb. 1 (Jiji Press)--A Japanese government panel of experts Tuesday compiled recommendations for envisaged economic security legislation, calling for strengthening supply chains for critical goods and ensuring the security of key infrastructure.

Based on the recommendations, the government plans to introduce an economic security promotion bill to the ongoing regular session of the Diet, Japan's parliament, late this month.

Japan is facing an urgent need to beef up its economic security at a time when the United States and China are competing for economic and technological dominance.

The government aims to enhance its economic security system with the proposed law with four pillars: strengthening supply chains, ensuring the security of core infrastructure, promoting public-private technical cooperation and keeping secret patents on technologies that could be used for military purposes.

Referring to the coronavirus pandemic and geopolitical tensions as risks in terms of economic security, the panel urged the government to quickly shape the legislation and have it enacted.

[Copyright The Jiji Press, Ltd.]

Jiji Press