Communication with Businesses Crucial for Japan's Economic Security

Politics

Tokyo, May 12 (Jiji Press)--The Japanese government needs to communicate with businesses sufficiently to ensure that economic security measures enacted Wednesday are implemented effectively, business leaders and economists said.

The economic security promotion law is a major pillar of the government's efforts to beef up supply chains of strategically important goods, such as semiconductors.

The efforts mean that the government will increase control over goods, technology and core infrastructure, placing a greater burden on businesses.

Ensuring the stability of supply chains and energy supplies has taken on added importance since Russia's invasion of Ukraine. The Japanese government will step up efforts to mitigate geopolitical risks by steadily enforcing the new law, a Cabinet Secretariat official in charge of economic security said.

"It has now become important to look at our economic and technology policy measures from the viewpoint of national security," the official said.

[Copyright The Jiji Press, Ltd.]

Jiji Press