TOKYO (XINHUA) – Japanese Prime Minister Shigeru Ishiba has unveiled a plan to introduce a new framework for providing over JPY10 trillion (USD65 billion) in public support over the coming years to bolster artificial intelligence (AI) and semiconductor industries through 2030, local media reported.
The initiative seeks to stimulate private sector investment, aiming to spur over JPY50 trillion in public and private investment combined over the next decade, the public broadcaster NHK reported, citing Ishiba at a press conference.
To support the initiative, the government was considering issuing bonds backed by shares in NTT and other government-owned assets. In recent years, Japan’s semiconductor industry has received close to JPY4 trillion in government
funding. However, further support has been deemed necessary, with companies like Rapidus, which focused on domestic production of advanced semiconductors, projected to need an additional JPY4 trillion.
The new strategy highlighted the government’s long-term commitment to strengthen AI and semiconductor sectors, but the substantial and sustained support for specific industries has raised questions about its viability and effectiveness.
