Kishida administration launches economic security council

Jiji Press

November 20, 2021

TOKYO (Jiji Press) — Japanese Prime Minister Fumio Kishida’s administration on Friday launched a new council to discuss economic security policy, joined by related ministers.

“It’s important to drastically step up efforts” related to economic security, Kishida said at the first meeting of the council on the day. He instructed Takayuki Kobayashi, minister in charge of economic security, to set up a panel of related experts and draw up related legislation promptly.

At a press conference on the day, Kobayashi indicated that he plans to convene the first meeting of the expert panel within this month.

The new council is chaired by Kishida himself, with Chief Cabinet Secretary Hirokazu Matsuno and Kobayashi serving as vice chairs. The other members include Finance Minister Shunichi Suzuki and Economy, Trade and Industry Minister Koichi Hagiuda.

The council is tasked with considering strategies to enhance the resilience of supply chains for strategic goods including semiconductors and medical products and to develop artificial intelligence and other key technologies.

The Kishida administration aims to submit an economic security promotion bill that includes measures to help strengthen supply chains, during next year’s ordinary parliamentary session.