Prime Minister Shinzo Abe held the first meeting of the Council on Economic and Fiscal Policy of 2014 at the Prime Minister's Office.

During the meeting, discussion took place on "the past year's achievements in economic and fiscal policy and future prospects" and "promoting direct investment in Japan."

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

"Last year, the positive cycle began to turn towards breaking free from deflation and revitalizing the economy. This year is the real test for realizing the positive cycle. I will work to achieve both economic revitalization and fiscal soundness. I would like to ask the Council to strengthen its partnership with the Industrial Competitiveness Council and to examine measures that will strengthen reforms and take them one step further.
With regard to cross-governmental initiatives for regional revitalization, a meeting among relevant ministers will be held in January, and we will be significantly accelerating the implementation of the initiatives, including the proposals received from private sector members. Also, to improve the quality of administrative services and realize substantial cost reductions, the adoption of IT systems for administrative services and program reforms must be undertaken simultaneously and in an integrated manner. I would like to ask Minister Shindo to work with relevant ministers and others for compiling specific policies and identifying the way forward, and report this to the Council.
I would like to ask the 'Choosing the Future' Committee to make bold policy recommendations based on quantitative analyses from a macro perspective, aimed at the mid- to long-term growth of the Japanese economy. Please share your opinions with the Council as they arise.
With regard to direct investment in Japan, I would like to ask Minister Amari and relevant ministers to coordinate and proceed with the efforts to achieve our target of doubling the balance. In addition, under the leadership of Minister Amari, I would like to ask you to identify the challenges of promoting investment in Japan, taking into account the opinions of foreign companies, and report these to the Council."