Japan to Propose Special Deregulation Zones

Prime Minister Shinzo Abe is planning to establish and head a new government panel to promote deregulation in Japan through the launch of special economic zones, a centerpiece for his economic growth strategy, government sources said Monday.

Abe told a Diet committee that he could even exclude some Cabinet members from the decision-making process, if they focus too much on protecting the interests of industries under their jurisdiction and retard the debate for deregulation.

Establishing a panel would be stipulated under a bill the government is working on and which will be submitted to parliament during the ongoing session through early December.

In the envisaged “strategic special zones,” the government would allow tax breaks and other steps to facilitate businesses in sectors such as agriculture and health care.

The new panel, chaired by Abe, would have a strong enforcement capability, like the existing Council on Economic and Fiscal Policy, which helps draw up state budget and architect key economic policies, the sources said.

Its members would be limited to the chief Cabinet secretary, some economic ministers and those from the private sector, they added.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza