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Regular General Meeting of the Nippon Keidanren

Tuesday, June 4, 2013

Photograph of the Prime Minister delivering an address at the Regular General Meeting of the Nippon Keidanren

Photograph of the Prime Minister delivering an address at the Regular General Meeting of the Nippon Keidanren

  • Photograph of the Prime Minister delivering an address at the Regular General Meeting of the Nippon Keidanren

Prime Minister Shinzo Abe attended the Regular General Meeting of the Nippon Keidanren held in Tokyo.

The Prime Minister said in his address,

"I would like to offer some remarks upon the opening of the second Regular General Meeting.
We are finally at the end of compilation work for the 'third prong' of the growth strategy. Its keywords are 'challenge,' 'open,' and 'innovation.' I am often asked what is different this time compared to the many growth strategies of the past. Put in a single word, the difference is in its 'execution.' If it is necessary for growth, I am resolved to face up to any adversity without hesitation. It is my belief that there can be no growth without action and I felt this way when I resolved to participate in TPP negotiations. The market may show unstable movement, but I will not waver. I will make sure that the three prongs hit their marks. 
The aims of my economic policy are to enhance the productivity of workers through investment and to increase net incomes. This will lead to consumption, and will realize a sustainable virtuous cycle in the economy. On this point, in regard to production, consumption, and GDP, we are seeing signs of recovery. However, investments, which are essential to the economy, continue to be sluggish. It may be the case that the biggest effect of prolonged deflation and excessive yen appreciation has been a diminished investment mindset among corporate managers. Non-performing debt, a problem which the Japanese economy struggled with for many years, is now a thing of the past. Now is truly a time of opportunity for growth. And the main drivers of growth are everyone in the private sector.
The Government is not the only entity that seeks the 'execution' of the Growth Strategy. In the Growth Strategy, we seek a sense of speed, and the strength and resolve to take action, without fear of risk. The improvement of productivity requires bold investment, and the all-out renewal and realignment of factories and businesses.
In order for everyone to undertake as many challenges as they want, I will position the next three years as a 'period of intensive investment,' and I intend to mobilize every policy for this, including in the areas of tax systems, budgets, finance, and regulatory reform.
I requested that everyone in the business world raise compensation, and I have been deeply moved to see so many companies fulfill this request. I want to express my gratitude. I want to pass on the fruits of economic growth to people who work in the form of employment and compensation. I have also requested the active promotion of women to executive and management-level positions, as well as the preparation of options that would allow for three-year childcare leave or the return to work, and many companies also responded positively to this. I am confident that the full empowerment of the latent abilities possessed by women will be the driving force that will set Japan on a path out of stagnation and back toward growth. The Government intends to fully support companies that act on this issue.
Full-on economic diplomacy has been started with Russia, the Middle East, Myanmar, and for the past few days, Africa. I thank Chairman Yonekura and everyone here for accompanying me to a great many meetings. International development is also something for which there can be no growth without action. The world wants the many renowned systems created by Japanese people in the fields of medical care, food culture, space, disaster management, and eco cities. We are truly faced with a great opportunity for success. Moving forward, I hope that the public and private sector will continue to work as one for efforts to promote the strengths of Japan. Cooperating with everyone in the business world, I want us to advance the Growth Strategy together, and to again create a strong economy in Japan."

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