Japan's Abe promises 'daring' policies to boost economy
Reuters
Published Sep 20, 2017 10:19AM ET
Japan's Abe promises 'daring' policies to boost economy
NEW YORK (Reuters) - Japanese Prime Minister Shinzo Abe pledged on Wednesday to implement "daring policies" targeting taxes, the budget and regulations to promote investment in Japan and also promised to push for further corporate governance reforms.
Abe offered no firm details of the promised reforms in a speech to investors at the New York Stock Exchange, but said he was "absolutely" confident his government could deliver changes that would offset a dwindling population and other challenges facing the world's third-largest economy.
"I intend to put forward daring policies unlike any that have come before," Abe said in prepared remarks to a gathering of investors at the New York Stock Exchange.
Abe has faced investor skepticism that "Abenomics" - a mixture of fiscal stimulus, monetary easing, and reforms he announced almost five years ago - can change the outlook for Japan's economy and new business ventures.
Abe said he wanted to create a "regulatory sandbox system" in Japan, allowing entrepreneurs to start new businesses without conforming to existing regulations for a period of time. He did not offer further details.
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Written By: Reuters
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