Press Conference by Minister Saito (Excerpt)

*Note: This is a provisional translation for reference purposes only.

10:38 to 10:43 a.m.
Tuesday, July 2, 2024
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

Reorganization of the Ministry of Economy, Trade and Industry (METI)

Q: I would like to ask you about the ministry’s reorganization, which took effect on July 1. As a result of the reorganization, the Trade and Economic Security Bureau and the Innovation and Environment Policy Bureau have been established. Please tell me particularly about the purpose of and your expectations for the Innovation and Environment Policy Bureau.

A: As there is some overlap in the purposes of these two bureaus, the Trade and Economic Security Bureau and the Innovation and Environment Policy Bureau, let me provide you with an explanation. First, as various foreign countries have shifted to unprecedented, bold industrial policies and, as they are promoting industrial policies based on the principle of “domestic industry first,” the situation as I see it is challenging--we have entered an era in which countries are competing with each other to create superior industrial policy. In this situation, I have a strong sense of crisis over the possibility that each industrial policy implemented by METI will have a considerable impact on the future of Japanese industry.
Under these circumstances, the recent reorganization is intended to provide a framework for METI to make a greater commitment to addressing industrial policies by concentrating organizational resources into new policy challenges that have increased in importance in recent years, such as economic security, innovation, and Green Transformation (GX).
We have established the Trade and Economic Security Bureau to strongly promote economic security policy and also as a command center for METI, as it facilitates further internal and external coordination including with external organizations.
As for the purpose of the Innovation and Environment Policy Bureau, which you mentioned, we have established a system for planning and formulating promotion policies to generate innovation, including the creation and nurturing of startups that have the potential to become innovation drivers.
In addition, the GX Policy Group has been established at the Innovation and Environment Policy Bureau in order to further promote GX-related policies, which are entering the stage of implementation, including the enactment of relevant bills.
These bureaus have been established to enable the government to use this framework to resolutely move forward in deploying necessary policies and develop more effective economic and industrial policies.

GX2040 Leaders Panel

Q: Later today, the first meeting of the GX2040 Leaders Panel will be held at the Prime Minister’s Office. Please once again provide us with an explanation regarding the purpose of this panel. Today, private-sector experts have also been invited to the panel, so please explain why the panel’s composition has changed and what sorts of opinions you expect.

A: The GX vision is now set to be formulated. To that end, various sorts of work have to be undertaken. As we, including the Prime Minister, would like to have opportunities to listen to various frank opinions from experts, we will hold the first meeting.
When promoting GX, the private sector’s contribution is very important, so I regard this as a step toward realizing investments totaling 150 trillion yen over 10 years through public-private cooperation.