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Industrial Competitiveness Council
Wednesday, June 5, 2013
Prime Minister Shinzo Abe held the 11th meeting of the Industrial Competitiveness Council at the Prime Minister's Office.
During the meeting, discussion took place on the draft growth strategy.
Based on the discussion, the Prime Minister said,
"Thank you once again for the intensive discussion today.
With regard to the 'growth roadmap' which was also discussed a short while ago, I said in my afternoon speech today that a vast amount of funds that are lying idle will be mobilized, latent markets in Japan and overseas will be stimulated, and private sector investment will be spurred.
In addition, Japanese human resources, technologies, and funds will be shifted to high productivity sectors, which will increase per capita sales.
The fruits of these measures will be returned to households as wages and incomes. Increases in income will raise consumption, which will in turn lead to further growth.
Such a 'virtuous cycle of growth' will be created. This is what I have stated.
The key to keeping this 'virtuous cycle' in motion is regulatory and institutional reform.
The worlds of medicine, energy, infrastructure development, among other sectors, in which private investment is restricted because of regulations, will be dramatically opened up.
Having faith in both the creativity and abilities of the Japanese people and companies to make breakthroughs, we will unleash their potential. This, I believe, is exactly the job of the Abe Cabinet.
Opportunities will be created so that everyone will be able to take up challenges without any restraints. I am determined to move forward with 'reforms' decisively, without fearing risks.
'Japan can still grow much more,' and 'Japan can once again take center stage in the world.'
The Japan National Football Team will once again make its appearance on the world's big stage in the form of the World Cup finals.
Let us work together now to create a Japan in which we can once again take center stage in the world. To this end, I ask for your continued cooperation."