Japan to revise economic security law to support projects abroad

The government plans to submit a bill to revise the economic security promotion law during the current session of parliament that began on Wednesday. The Japanese government plans to revise the economic security promotion law to support companies with economic security-linked projects overseas. This will be the first revision of the law, established in 2022. The move comes amid a rapidly changing international environment, as the Ukraine-Russia war drags on and China continues to flex its economic muscle. Competition is also intensifying in the development of artificial intelligence and other cutting-edge technologies.