PM Shinzo Abe announces 10 reforms
Prime Minister Shinzo Abe announced a tranche of reforms designed a increasing growth and making Japan more globally competitive. The measures are known as “the third arrow” reforms which revise and update the ‘Japan Revitalization Strategy’.
There are ten key reforms being proposed by the Prime Minister (you can find the details here);
1. Enhancement of Corporate Governance – drafting of a Corporate governance code
2. Reform of Public and Quasi-public funds
3. Corporate Structural Reforms, Promotion of Ventures, Provision of Risk Money
4. Pro-growth Corporate Tax Reform – aim to decrease effective rate to 30% from 35% in several years
5. Promotion of Innovation and the “Robot Revolution”
6. Promotion of Women’s Participation
7. Reform of Working Styles
8. Utilization of Foreign Human Resources
9. Developing Aggressive Agriculture
10. Vitalization of Health Industry and Provision of High quality Healthcare Services.
The government also posted the latest progress and achievements of the Abe administration document, 68 pages long, called “Abenomics” is Progressing yesterday. You can find that report here.