Japan Outlines 3-Pronged Economic Growth Strategy

   Tokyo, May 29 (Jiji Press)--A Japanese government panel on Wednesday adopted an outline of the nation's upcoming economic growth strategy featuring the three key areas of industry revival, the creation of strategic markets and the promotion of international businesses.
   The Industrial Competitiveness Council, headed by Prime Minister Shinzo Abe, also decided to set a roadmap through 2030, as well as numerical targets for important measures and the deadlines for the targets to be met.
   "We will present a clear path toward growth to the public," economic revitalization minister Akira Amari said at the day's meeting of the panel.
   The planned growth strategy, seen to be formalized at a cabinet meeting on June 14, is one of the "three arrows" of Abe's economic policy, dubbed Abenomics. The two others are the Bank of Japan's aggressive monetary easing policy and the government's massive and timely fiscal spending.
   On industry revival, the outline said Japan will rectify underinvestment, overregulation and excessive competition over the coming five years, which it designates as a period for making intensive efforts to expedite structural reforms.

(2013/05/29-13:31)

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