Japan weighing ¥370 tril investment in 17 growth areas by FY2040

TOKYO — The government is considering setting a goal for the public and private sectors to invest around 370 trillion yen ($2.3 trillion) in 17 growth areas by fiscal 2040, sources close to the matter said Saturday.

The target will be presented next week at a meeting on Japan's growth strategy, which focuses on artificial intelligence, semiconductors, shipbuilding, aviation and space among other sectors.

The government calculated the amount by compiling market growth forecasts for each sector and capital spending plans in the private sector.

Prime Minister Sanae Takaichi aims to build a strong economy through aggressive fiscal policy, with her government also discussing its basic policy on economic and fiscal management and reform.

While the government hopes the target will spark an appetite for long-term corporate investment, some companies view the key areas as too broad and without clear priorities.

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