00:03From my understanding, it was a truly significant initiative, the first in 27 years.
00:09In terms of the currency, it could buy some time, but it could end up being just that,
00:15unless the fundamental economic situation and the broader environment doesn't change.
00:20Since such a landmark action has been taken, fiscal and monetary policies need to be implemented.
00:26I believe that is what is most important.
00:32We have set out a target of 370 trillion yen in combined public and private investment.
00:38The breakdown of that figure is something that will be determined going forward.
00:42If the government does what it needs to do and properly fulfills its responsibilities,
00:47then private sector investment will also increase and, as a result, the overall total will grow as well.
00:53We must not lose sight of this point and not assume that simply announcing a headline figure
00:59for combined public and private investment will somehow make that amount materialize.
01:08I do not believe that these initiatives are being viewed negatively simply because there is no identified funding source.
01:15Rather, the fact that Japan has put this kind of framework in place
01:19and that there is confidence that Japan's efforts are credible and capable of delivering results
01:24is precisely why investment is flowing into areas such as semiconductors.
01:28We are already seeing concrete results.
01:31Major projects are underway in Hokkaido, Kyushu and Hiroshima.
01:35I believe that by expanding this framework to cover a broader range of sectors,
01:39it is by no means impossible to generate further momentum and get things moving.
Comments