Government Aims to be at the Core of Global Supply Chains for Strategic Goods
Key Highlights :
The Japanese government is looking to be at the forefront of global supply chains for strategically important goods such as next-generation semiconductors. This goal is included in a draft of the government’s annual economic and fiscal policy guidelines, which is expected to be adopted in mid-June after coordination with the Liberal Democratic Party-led ruling coalition.
In order to achieve this goal, the government is looking to ramp up investment in the areas. This could include public-private partnerships, subsidies, tax breaks, and other incentives to encourage businesses to invest in the strategic goods sector.
The government also has a goal of turning around the combined primary budget balance at the state and local governments by fiscal 2025. This goal, however, will not be written into the guidelines for the second straight year. This could be due to a conflict with other economic policies or the current economic climate.
The government's goal of becoming a leader in global supply chains is an ambitious one, but it is one that could benefit the country in the long run. It could create jobs, boost the economy, and make Japan a leader in the strategic goods sector. It is important, however, that the government is mindful of the potential risks associated with such a goal and takes the necessary steps to ensure that it is achieved in a safe and responsible manner.
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