S/ Takaichi Sanae, Prime Minister / As countries around the world compete through long-term, large-scale industrial policies, now is the time to encourage domestic investment through responsible proactive fiscal measures and raise Japan's potential growth rate.

In July, the government compiled Japan’s Growth Strategy, which calls for a combined public and private investment of 370 trillion yen in 17 strategic sectors, including AI and semiconductors, by fiscal 2040.

At a meeting on October 1, the government designated the five years starting next fiscal year as an intensive investment period.

Takaichi instructed ministries and agencies to carry out discussions on implementing the growth strategy, including addressing labor shortages in the construction sector and securing adequate power supplies.

The government is set to finalize an action plan by the end of the year, including specific targets and required budget amounts for the intensive investment period starting April 2027.