Lates News

The economic advisory team of Japanese Prime Minister Shigeru Ishiba has proposed investing $400 billion to improve the productivity of small and medium-sized enterprises, a key measure for the government to achieve wage growth far above the inflation rate. The team submitted an outline of a five-year plan at a meeting on Wednesday, outlining measures to support small and medium-sized enterprises in increasing wages. The team is responsible for formulating key economic policies for the government. Specific measures include investing 60 trillion yen (about $407.86 billion) over the next five years in both the public and private sectors to help small and medium-sized enterprises digitize or automate their operations, while also increasing support for mergers and acquisitions.