The government will take legislative steps in the upcoming Diet session, expected to convene this fall, to help revitalize small and medium-size enterprises and nurture venture businesses, Prime Minister Keizo Obuchi said Wednesday.

Obuchi made the remarks during the sixth meeting of the Competitiveness Commission, his advisory organ set up to map out steps to keep Japan's economy competitive. The commission consists of Cabinet ministers and representatives from the business community.

Obuchi said the government panel will now concentrate its discussions on the future of the economy, in particular promotion of small firms and venture businesses.