Japan Ruling Parties OK Economic Security Bill

Politics

Tokyo, Feb. 16 (Jiji Press)--Japan's ruling parties on Wednesday broadly approved the final draft of an economic security promotion bill, which specifies penalties for private-sector offenders in all of the bill's four fields.

The government plans to adopt the legislation at a cabinet meeting as early as Feb. 25 and submit it to the ongoing session of the Diet, the country's parliament.

The four areas are the strengthening of supply chains, prior screenings of critical infrastructure, public-private cooperation on advanced technologies, and the nondisclosure of patents on sensitive technologies that could be used for military purposes.

On supply chains, the draft bill calls for financial aid to ensure networks providing "specified important goods," which will be designated by ordinances.

It also calls for prior screenings of investments in and management regimes for 14 types of critical infrastructure, including electricity, gas and financial services, as well as for tighter rules regarding the development of advanced technologies and on the management of patents.

[Copyright The Jiji Press, Ltd.]

Jiji Press