Asia-Pacific

Japan maps out 10-year growth strategy through 2020

(Xinhua)
Updated: 2009-12-30 15:38

TOKYO: The Japanese government on Wednesday unveiled a 10-year growth strategy through 2020, eyeing an average economic growth of 3 percent in nominal terms.

The government designated the environment, health, and tourism as the key areas of development, targeting the creation of a total of 4.76 million jobs, and will try the nominal gross domestic product to around 650 trillion yen in 2020 from the expected 473 trillion yen in fiscal 2009 through next March.

In achieving the targets, the outline said Japan will cut 1.3 billion tons in global greenhouse gas emissions by 2020 from the current 28 billion tons.

To boost tourism and regional economies, the government plans to introduce a new holiday system and make it easier for Asians to obtain tourist visas. It plans to nearly triple the number of overseas visitors to Japan from 8.35 million in fiscal 2008 to 25 million by 2020.

In addition to the environment, health, and tourism, it has also pledged to prioritize development in science and technology, and employment and human resources, as well as trying to create demand from fast-growing Asian economies.

The government aimed at reducing the nation's unemployment rate from the current 5 percent level to about 3 percent, and will encourage people, including housewives to take full-time jobs.

The nominal economic growth target is a jump from a record 4.3 percent contraction the government projects for fiscal 2009.

Japan's new Democratic Party of Japan (DPJ) government has vowed to focus on generating demand and jobs by implementing measures to improve the lives of households, and is different from the previous government's strategy of putting priority on expanding business activities to boost the economy.