Japan speeds up legislation to safeguard economic security

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On the morning of November 19, 2021, at the first meeting of the "Economic Security Promotion Committee" headed by Japanese Prime Minister Fumio Kishida, heads of several Japanese government agencies discussed how to ensure the semiconductor supply chain in Japan and prevent the outflow of sensitive technologies. Kishida urged the establishment of an expert meeting and the enactment of an economic Security Promotion Law (tentative title) as soon as possible. At a time when countries around the world are scrambling to secure the supply of strategic products and access to key technologies, Japan needs to speed up the establishment of a mechanism to secure economic security, he said.
What will the Economic Security Promotion Act include?
According to the outline of the law, which was leaked by Japanese media, the Japanese government plans to enact the law in four areas: strengthening supply chains, maintaining core infrastructure, securing technology base, and keeping sensitive patents under wraps.
A number of Japanese government sources revealed that part about "to strengthen the supply chain", is expected to be established in the legislation to strengthen the semiconductor and other related domestic production base of support system, for the domestic production of semiconductors and other important products set up the mechanism of subsidy, and issued by the mechanic intelligence on November 19, the "three steps" Japan's semiconductor industry base promotion plan, The Japanese government will provide 50% of the subsidy for those who set up semiconductor manufacturing plants in Japan. As a source of funds, hundreds of billions of yen will be allocated in the 2021 supplementary budget to set up a fund in the Japan New Energy and Industrial Technology Development Agency (NEDO).
About the part of "core infrastructure maintenance", in areas such as communications, energy and financial enterprises to introduce important equipment, in order to avoid may threaten the safety of foreign products and system, the Japanese government or will establish censorship "advance" in the bill, review with foreign products of the security risk is included in the core infrastructure.
As for the "non-disclosure of sensitive patents", as early as 2020, the Japanese government had considered amending relevant laws and introducing the so-called "secret patent" system to prevent the outflow of advanced technical information of great significance to Japan's national security. The economic Security Enhancement Act, which is being drafted, will include this system to prevent the outflow of related advanced technologies that could be used in the development of next-generation weapons. The Japanese government points out that many advanced economies have secret patent-related systems that "de-publicise" technical information that could be used for military purposes. Under the current Japanese patent system, all patent contents are allowed to be disclosed after a certain period of time upon application. Under the new law, the government plans to compensate holders of "closed" patents who are deemed to be classified as "secret" patents, even if they are filed.