Japan eyes 370tn yen in strategic investments by FY 2040
The Japanese government on Wednesday projected that public-private investments in 17 strategic fields under Prime Minister Sanae Takaichi's "responsible and proactive" fiscal policy will exceed 370 trillion yen by fiscal 2040, Jiji Press reports.
The projection was presented at the day's joint meeting of the Council on Economic and Fiscal Policy and the Council for Japan's Growth Strategy, both headed by the prime minister.
The government expects these investments to stimulate private investments in artificial intelligence, semiconductors, shipbuilding, defense and other sectors, thereby helping to create a strong economy.
During the meeting, Takaichi pointed out that Japan is not falling behind other countries in technological innovation and labor productivity. "We'll eliminate excessive austerity and the lack of investments for the future, and make every effort to support efforts to acquire new market shares," she stressed.
The government has specified 62 products and technologies in the 17 strategic fields as investment priorities. It eyes 10.5 trillion yen for developing physical AI for moving robots and 68 trillion yen for developing and mass-producing semiconductors needed for the high-speed processing of large volumes of data.
Earlier, Qazinform reported Japan aims the full digitalization of airport customs declaration by 2030.