Japan PM Takaichi launches Growth Strategy Council targeting 17 industries for economic revitalization

Japanese Prime Minister Sanae Takaichi has launched a new economic strategy headquarters and created the Japan Growth Strategy Council to drive growth through targeted public-private investments across 17 strategic sectors, including artificial intelligence, semiconductors, shipbuilding, aerospace, and defense. The council, composed of government officials and private-sector experts, will develop multi-year public-private investment roadmaps detailing investment content, timing, and targets to strengthen Japan’s supply chain, boost income and corporate profits, and increase tax revenue without raising tax rates. This initiative replaces the previous economic approach, emphasizing responsible and proactive fiscal policy to enhance Japan's industrial base and competitiveness. The government aims to foster innovation, productivity, and sustainable growth by aligning national policies with market opportunities, promoting regulatory reform, startups, and human resource development. By leveraging collaboration between public and private sectors, Takaichi’s administration is focused on long-term economic stability and solidifying Japan’s position as a global economic leader. The council’s recommendations will inform comprehensive economic measures to be drafted later this year, with clear strategies expected by next summer.