METI Publishes Report Titled “GLocal Growth Strategy” Compiled by the GLocal Growth Strategy Study Group

The Ministry of Economy, Trade and Industry (METI) established a GLocal Growth Strategy Study Group, aiming to: break through stereotypical ideas that have pervaded Japan, such as “no growth is expected in a society facing a population constraint;” and encourage regional cities and rural areas with a small population at the front line of the declining population issue to establish themselves as role models of achieving economic growth while facing population constraints and to allow their achievements to lead the growth of the entire Japanese economy. To this end, the study group held discussions and compiled the discussion results into a report titled “GLocal Growth Strategy.”

1. Outline of the study group

Under the leadership of Mr. Hirofumi Takinami, Parliamentary Vice-Minister of Economy, Trade and Industry, METI established a GLocal Growth Strategy Study Group. Since then, the study group held opinion exchanges and other discussions with experts, aiming to: encourage regional cities and rural areas with a small population at the front line of the declining population issue to establish themselves as role models of achieving economic growth while facing population constraints and to become a core of economic growth, thereby accelerating the growth of the entire Japanese economy; and it compiled the discussion results into a report titled “GLocal Growth Strategy.”

2. Outline of the report

Championing a slogan titled “No Growth of Regional cities and Rural Areas, No Growth of Japan,” the report highlights the importance of the following points in achieving the growth of non-metropolitan areas that face population constraints:

  1. Encourage companies located outside metropolitan areas to cultivate direct sales channels to global markets to make their business more international; and
  2. Shift the common form of catch-up, imitative growth to radical, truly innovative growth and develop dynamism in management.

Taking these points into account, the study group compiled a variety of measures focusing on the following three points and formulated the strategy.

  • Exports of products by SMEs;
  • Exports of agricultural, forestry, and fishery products and food; and
  • Taking advantage of demand created by overseas visitors to Japan.

3. Future actions

METI will reflect the discussion results of the study group and the details of the report into its various measures.

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Read more: https://www.meti.go.jp/english/press/2019/0515_001.html


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