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Japan to form panel to discuss regulations on IT giants

  • September 20, 2019
  • , Jiji Press , 1:46 a.m.
  • English Press

Tokyo, Sept. 19 (Jiji Press) — The Japanese government decided Thursday to set up this month a headquarters to discuss tougher regulations on global information technology giants.

At the day’s meeting of a future investment panel, chaired by Prime Minister Shinzo Abe, participants also talked about how to promote investment in new industries, as part of work to draw up a new growth strategy. This was the first meeting of the panel since Abe reshuffled his cabinet on Sept. 11.

The government plans to draft within this year a bill on regulations on IT firms. The envisioned digital market competition headquarters will hold its first meeting shortly to launch full-fledged discussions on the planned bill and policy planning.

The headquarters, to be led by Chief Cabinet Secretary Yoshihide Suga, will comprise about 10 ministers, including Minister of Economy, Trade and Industry Isshu Sugawara. Fair Trade Commission Chairman Kazuyuki Sugimoto will also join the headquarters.

A subgroup of five experts, including University of Tokyo Prof. Yutaka Matsuo, will be set up under the headquarters.

“I want you to draw conclusions by year-end on how to make transactions involving IT firms transparent and how personal information should be protected,” Abe said at the day’s meeting.

Participants also discussed measures to promote big firms’ investment in new industries and a possible revision of the antimonopoly law to facilitate realignments among regional banks and local bus operators.

The government plans to compile an interim report on the planned new growth strategy by the end of this year and make a cabinet decision by summer 2020 on a program to execute the new strategy.

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