Japan enacts economic security law | Jones day

48

The Japanese Parliament has enacted the first comprehensive Economic Security Law to enhance Japan’s national security from the perspective of economic activities, with a particular focus on sensitive industrial sectors such as rare earths, semiconductors and infrastructure, as well as research and development (“R&D”) in defense and dual-use technologies.

On May 11, 2022, the Japanese Parliament passed the landmark Law on Promoting Economic Security Through Integrated Implementation of Economic Measures. The framework of the legislation has been under discussion since late 2021 and will eventually be finalized in the following four areas of economic security:

  • Resilient supply chain for strategic resources. The government will allocate certain strategic resources that are fundamental to the national economy but are heavily dependent on foreign sources, such as rare earths, semiconductors, batteries and pharmaceuticals, and will set the basic policies and individual plans for…



Source link

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.