Japan PM Takaichi Eyeing New Quota for Growth Investment

Tokyo, May 22 (Jiji Press)--Japanese Prime Minister Sanae Takaichi on Friday showed a plan to set up a new investment quota for 17 growth areas, including artificial intelligence and semiconductors, to support long-term corporate investments.

At a meeting of the Council on Economic and Fiscal Policy, Takaichi, who chairs the panel, stressed the government's policy of ensuring sufficient budget allocations by exempting the 17 sectors from the rule limiting financing for related project funds to three years in principle.

"We will make it possible for government agencies and ministries to make budget requests to ensure that necessary amounts of funds are secured," she said.

In annual state budget compilation, ministries and agencies submit their fund requests to the Finance Ministry by the end of August under related guidelines.

Still, Takaichi said she aims to secure necessary funds for the 17 areas by reviewing budget compilation procedures.

[Copyright The Jiji Press, Ltd.]