The government on May 15 finalized a detailed program to revamp the nation's economic structure and maintain a leading position in the global market in the coming century.
The Action Plan for Economic Structural Reform and Creation represents one of the six major reforms initiated by Prime Minister Ryutaro Hashimoto. It will be presented to the Cabinet May 16 for approval.
The action plan, a detailed version of a program adopted in December, provides a road map to achieve previously pledged goals to reduce costs of doing business, create new business fields and revamp social security systems. To measure its effectiveness, the government will annually review progress in implementing proposed measures and related policies, according to government officials.