The new funding framework, separate from previously earmarked funds worth roughly JPY4 trillion, will be sketched out in an upcoming economic stimulus package with an aim to generate an economic impact of about JPY160 trillion, according to a draft of the package seen by Bloomberg.
Japanese Prime Minister Shigeru Ishiba pledged more than US$65 billion ($86.79 billion) of fresh support for the nation’s semiconductor and artificial intelligence sector as Tokyo looks to keep up with a global spending spree on cutting-edge tech.
Ishiba said he hoped public aid of more than JPY10 trillion ($87 billion) for the sector by fiscal 2030 would serve as a catalyst to generate public and private investment of more than JPY50 trillion over the next 10 years.
