Japan sets fiscal 2030 plan to build stronger local economies
The fiscal 2030 framework combines national industry clusters with locally led programmes, possible funding support and improved transport links.
- Japan's revised regional strategy through fiscal 2030 aims to strengthen local economies by combining national industrial policy with local programs.
- The central government will lead large-scale investment in industrial clusters focused on 17 priority fields, such as artificial intelligence and semiconductors.
- Prefectural and municipal governments will have distinct roles, with prefectures leading regional programs and municipalities focusing on utilizing local resources.
- The plan also includes potential budget increases for public-private investment and initiatives to improve transport and connect non-residents with regional areas.
Japan will combine national industrial policy with locally developed programmes under a revised regional strategy approved on Tuesday (July 21) and extending through fiscal 2030.
The framework reworks the comprehensive regional revitalisation strategy completed last December, placing greater policy emphasis on building stronger economies across Japan’s regions.
Large-scale investment will be pursued through industrial clusters tailored to individual regional blocs.
The central government will develop the clusters around 17 priority fields promoted by Prime Minister Sanae Takaichi, including artificial intelligence and semiconductors.
Prefectures and municipalities will take on different responsibilities under the strategy.
Prefectural governments will lead regional programmes, while municipal authorities will draw up initiatives aimed at making better use of local resources.
The central government will also examine whether to provide additional budget allocations and broaden subsidies for infrastructure development and investment undertaken jointly by the public and private sectors.
Another part of the strategy addresses links between regional communities and people living elsewhere.
It seeks to eliminate gaps in transport services and expand the “connected population”, referring to non-residents who maintain regular interaction with regional areas.
[Copyright The Jiji Press, Ltd.]
