Prime Minister Shinzo Abe held the 14th meeting of the Industrial Competitiveness Council at the Prime Minister's Office.

During the meeting, discussion took place on the "policy regarding the implementation of the growth strategy in the coming years (draft)."

Based on the discussion, the Prime Minister said in his address,

"Since assuming power, thanks to the effect of the 'three arrows' policies, which are different from the past in both their scope and reach, there has been a shift in the economy from a negative state to a positive state. It is a fact that we are seeing a change away from the orientation towards contraction stemming from the long-standing deflation. I am confident that if we enhance the implementation of the growth strategy here, we will surely set Japan on a path back toward stable growth again.
As pillars of that, we will pursue bold tax breaks intended to encourage investment and the creation of a taxation system that promotes the renovation of industry. I hope to improve corporate results through capital investment, and connect that to increased incomes.
In addition, regulatory and institutional reform in particular will lead to a breakthrough triggering growth. We will advance regulatory as well as institutional reform and accelerate structural reform in each layer of the triple-layered structure of the strategic regions, corporations, and the country as a whole, so that the wisdom and vibrancy of the private sector will bloom like a large flower. To that end, we will submit the bill on the National Strategic Special Zone and the bill for strengthening industrial competitiveness to this autumn's extraordinary session of the Diet.
In addition to this, we will submit a series of bills related to the growth strategy, such as the bill to amend the Electricity Business Act and bills related to prefectural intermediary institutions that manage farmland. With regard to enhancing the implementation of the growth strategy in the Diet this autumn, we will produce steady results in a variety of directions.
'There can be no growth without execution.' The policy regarding the implementation of the growth strategy in the coming years that you have discussed today will be decided upon at the Headquarters for Japan's Economic Revitalization after this and will become the commitment of the Abe administration. Based on this, we will fully implement policies to improve the growth potential of Japan, and demonstrate our ability to execute policies to the world.
There are still many things to reform in fields such as employment, medical and nursing care, and agriculture. I request that as members of the Industrial Competitiveness Council, you continue to take the lead on the groundbreaking policies that will completely change the shape of the Japanese economy."