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Policy Proposals  Comprehensive Strategy Realize a 600 Trillion Yen Economy Fiscal 2016 Organization Policy

June 2, 2016

Last January, Keidanren formulated the future vision to be achieved by the year 2030, and set it as the action guideline for the future. This vi sion demonstrated that a GDP of 600 trillion yen can be realized if all citizens exerted their combined efforts to strongly proceed with comprehensive economic and social reforms.

The most important issues at present are to definitely overcome deflation and revitalize the economy to pave the way towards achieving a GDP of 600 trillion yen.

To this end, the currently stagnant consumer spending must be lifted and put on an upward trend. We therefore recommend the Government to take fast-acting measures to increase consumption, and call for equal footing in business environment to expand capital investment and R&D investment. In addition, we believe that the Government must launch several GDP-boosting projects and steadily carry them out by mobilizing the wisdom and resources of the public and private sectors.

Furthermore, for the sustainable development of the Japanese economy, a growth strategy revolving around innovation and globalization must be strengthened in consideration of the future outlook. In particular, a sustained commitment is essential in nurturing trend-setting core industries (IoT, artificial intelligence/robot, smart city, biotechnology, marine resources development, and aviation/space) and developing attractive products and services.

Based on this awareness, Keidanren will aggressively take on the following issues to achieve a GDP of 600 trillion yen and create a more affluent and vibrant national life.

  1. 1. Accelerate post-disaster reconstruction and create a "New Tohoku"
  2. 2. Promote growth strategy to realize a GDP 600 trillion-yen economy
    1. (1) Implement strategic projects
    2. (2) Promote Society 5.0 centered on scientific and technological innovations
    3. (3) Promote economic cooperation and proactively develop economic diplomacy
    4. (4) Create new growth opportunities through regulatory reform
    5. (5) Strengthen agricultural competitiveness and develop it into a growth industry
    6. (6) Promote tourism
  3. 3. Establish strong foundation for supporting a growth strategy
    1. (1) Steady commitment to restore fiscal health and reform social security system
    2. (2) Establish energy and environmental policies compatible with economic growth
    3. (3) Corporate tax reform to improve corporate vitality
    4. (4) Promote the active participation of women in the workforce and workstyle reform
    5. (5) Promote the development of human resources for the next generation
    6. (6) Enhance cyber security and countermeasures to guard against terrorism
  4. 4. Maintain a population of 100 million and create attractive cities and regions
    1. (1) Enhance measures to address population decline
    2. (2) Invigorate regional economies
    3. (3) Improve urban functions
  5. 5. Successfully host the Tokyo Olympics and Paralympics
  6. 6. Continue reform of the Keidanren

Comprehensive Strategy