The Ministry of Economy, Trade and Industry
- METI aims to optimize stimulus policies to solve social problems, as well as strengthen economic competitiveness through its Connected Industries policy.
- METI's total FY 2018 budget request amounts to approximately 1.4 trillion yen (12.7 billion US dollars).
- Following coordination with the Ministry of Finance (MOF), the Cabinet will approve a draft budget in late December and present it to the Diet for examination.
1. Realize Connected Industries
- Digitalization has changed the structure of the world’s economy. To enhance productivity, METI encourages the development of robust data infrastructure to spur competitiveness across industries and organizations. METI also promotes the development of next-generation AI chips to compete with increasingly sophisticating data processing.
- Promote cyber security, especially for critical infrastructure.
85.1 billion yen (774 million US dollars)
2. Accelerate forward-looking investment by SMEs
- METI will increase support for local core companies to energize local economies and facilitate business succession plans for SMEs with aging owners. METI also aims to help SMEs enhance productivity and solve labor shortages by promoting IT use.
77.3 billion yen (703 million US dollars)
3. Overcome environment and energy constraints and expand investment
- Reduce energy-related carbon emissions through investments in energy conservation and expanded use of hydrogen and renewable energy, as outlined in the Strategic Energy Plan.
515.1 billion yen (4.7 billion US dollars)
- Enhance energy security through resource development inside and outside Japan
298.6 billion yen (2.7 billion US dollars)
4. Accelerate reconstruction of areas affected by the Great East Japan Earthquake
- The reconstruction of Fukushima is one of METI’s most important missions. METI will steadily carry out measures to decommission the Fukushima Daiichi Nuclear Power Station, as well as address the surrounding water contamination, and promote the reconstruction of businesses affected by the disaster and projects under the Fukushima Innovation Coast Scheme.
109.2 billion yen (9.9 billion US dollars)