Japan Govt Adopts Basic Policy on Economic Security

Politics Economy

Tokyo, Sept. 30 (Jiji Press)--The Japanese government Friday adopted a basic policy and basic guidelines on the new law to promote economic security, which partially entered into force in August.

The basic policy, adopted at a cabinet meeting, pointed to the need to increase government involvement in economic security issues in terms of assistance and regulation, rather than leaving them to market mechanisms too much.

The policy makes clear that the government will act to secure stable supplies of strategically important goods such as semiconductors and support research and development of key technologies.

The guidelines say the government will select items that meet all four conditions, such as being indispensable for the survival of the nation and being excessively dependent on a specific country, as strategically important goods.

The government will provide support to ensure stable supplies of such products by helping strengthen supply chains.

[Copyright The Jiji Press, Ltd.]

Jiji Press