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Monday, 26th October 2009
In Business In Japan,

New premier focuses on economy

Japanese prime minister Yukio Hatoyama has used his first policy speech since coming to power to focus on the importance of boosting the country's economy.

Japan has been hit like many other countries by the global recession of the past year and Mr Hatoyama has spoken of the need to revive the economy as a central part of his efforts to implement his government's policies.

He also reaffirmed a commitment to improving ties with the US, suggesting a "close and equal" alliance with the country would be beneficial for both nations.

New job prospects would be created in areas such as farming and nursing, Mr Hatoyama said, adding that public works projects considered a waste of resources and money would be cut in order to divert funds into kick-starting the economy.

The government appears to have already shown its intentions to be proactive in tackling the economy, with reports emerging that the government-backed Enterprise Turnaround Initiative Corporation of Japan is planning to take over the loss-making Japan Airlines.

The BBC reports that the Nikkei business daily has revealed the plan, which could help safeguard thousands of jobs at the airline.

Written by Mark Smith

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