Japan to Invest 1 T. Yen to Secure Recycled Resources

Tokyo, April 21 (Jiji Press)--The Japanese government adopted an action plan Tuesday aiming to invest a total of 1 trillion yen across the public and private sectors by 2030 to secure recycled resources.

The plan is designed to promote the reuse of discarded plastics and metals amid intensifying international competition for resources as China tightens restrictions on exports of rare earths to Japan.

"It is important to promote public-private investment, accelerate the transition to the circular economy, and link the initiative to the (Prime Minister Sanae) Takaichi administration's growth strategy aimed at realizing a strong economy," Chief Cabinet Secretary Minoru Kihara said at a meeting of relevant ministers.

The government plans to reflect the plan in the government's annual basic economic and fiscal guidelines to be drawn up this summer.

The government hopes to strengthen economic security by establishing a system to ensure a stable domestic supply of critical minerals and metal resources, such as rare earths, for which Japan currently depends on imports.

[Copyright The Jiji Press, Ltd.]