Feature article: Insights into “Key Points of Economic and Industrial Policies” (1)

On September 30, 2020, the Ministry of Economy, Trade and Industry (METI) compiled the “FY2021 Key Points of Economic and Industrial Policies.” This compilation is an annual report on METI’s prioritized efforts for showing comprehensive directions of the policies that METI upholds and for achieving social changes by making use of a variety of means, e.g., budgets, taxes, reforms, and regulations. The Key Points of Economic and Industrial Policies are a years-long series of reports with different topics every time that reflect economic and social environments of the day.

FY2021 Key Points of Economic and Industrial Policies

People’s daily lives have dramatically changed because of impacts caused by the novel coronavirus disease. As people are facing restrictions of minimizing their outings and contact with others as far as possible, METI has been providing urgent measures for protecting businesses and employment. Still, METI considers it necessary to provide proactive measures even in these severe circumstances as well as providing such protection measures. METI believes that now, where each Japanese person has raised awareness of his/her “new daily lives” in the with- or post-coronavirus era, is a good opportunity for Japan to solve the structural issues that the Japanese economy has been facing. To this end, with a long-term perspective, METI will strive to change Japanese companies and industrial structures.

Specifically, METI will carry out such efforts as: digitalization in economy and society, transition of energy for achieving decarbonization, secure healthy lives, establishment of resilient supply chains, vitalization of SMEs’ metabolism and regional economies, power to innovate, and fostering and enhancement of human resources that support such power. It will advance these efforts not only in Japan but also in cooperation with international society. As a matter of course, it will endeavor to tackle the ongoing measures for addressing as top priorities: decommissioning, contaminated water of the power plants, and reconstructing Fukushima.

METI will present a series of articles titled “Insights into ‘Key Points of Economic and Industrial Policies’” and explain in the articles some topics selected from the Key Points of Economic and Industrial Policies.