Today: 2 August 2025
4 October 2021
3 mins read

New Japanese PM sets sights on reviving economy

Fumio Kishida promised to increase middle-class incomes and reduce wealth disparity under his “new form of capitalism,” which is viewed as a break from the “neoliberal policies”….reports Asian Lite News

Fumio Kishida, the leader of Japan’s ruling Liberal Democratic Party (LDP) who was elected on Monday as the country’s new Prime Minister to succeed Yoshihide Suga, is seeking to tackle the ongoing Covid-19 pandemic while also reviving the economy with a package worth “tens of trillions of yen” to help people and businesses suffering from the health crisis.

Earlier in the day, the Diet or Parliament convened an extraordinary session to choose the new Prime Minister, reports Xinhua news agency.

As the ruling coalition led by the LDP controls both chambers, the 64-year-old former Foreign Minister received 311 of 458 votes in the House of Representatives and 141 of 241 votes in the House of Councillors.

After naming his new Cabinet, Kishida will be formally inaugurated in a ceremony at the Imperial Palace and hold a press conference in the evening.

Visitors are seen at the sightseeing spot Asakusa, in Tokyo, Japan, June 21, 2020. Japan on Friday completely lifted its request for people not to travel across prefectural lines, with the move met by a return of passengers to airports and train stations. (Xinhua/Du Xiaoyi/IANS)

Kishida’s first major test as Prime Minister will be the general election. He is planning to hold the election on October 31, while campaigning for members of the House of Representatives is set to begin on October 19.

He has promised to increase middle-class incomes and reduce wealth disparity under his “new form of capitalism,” which is viewed as a break from the “neoliberal policies” that the Japanese government has pursued over the past two decades.

On Monday morning, Suga’s Cabinet resigned en masse on Monday morning, little more than a year after its formation, amid criticism over its lack of ability to curb Covid-19.

As Japan’s Covid-19 infections have declined recently, and nearly 60 per cent of the country’s population have been fully vaccinated, the new Prime Minister will need to first handle the tasks of gradually lifting the restrictions on social and business activities and opening the border to foreign travellers.

In his prospective Cabinet, Kishida will add a new ministerial post for economic security with a responsibility to craft a national strategy designed to end the drain of intellectual property from Japan.

Takayuki Kobayashi, one of 13 ministerial first-timers, is set to be appointed to take the new post.

Three women will likely be appointed in the new Cabinet, including vaccination minister Noriko Horiuchi, administrative reform minister Karen Makishima, and Seiko Noda, the minister in charge of establishing a new agency for children’s policy.

In addition, former education minister Hirokazu Matsuno is set to become chief Cabinet secretary, and former environment minister Shunichi Suzuki is likely to replace his brother-in-law Taro Aso as finance minister of the country.

Kishida was elected in 1993 to the lower house from a constituency in Hiroshima prefecture and is a ninth-term member of the House of Representatives.

Under former Prime Minister Shinzo Abe, he served as Foreign Minister for four years and eight months before he was installed as chairman of the LDP’s Policy Research Council for three years.

The third-generation politician was considered as a potential successor to Abe but lost to Suga in the LDP presidential race in 2020.

Kishida won the presidential election of the ruling LDP over his contender vaccination minister Taro Kono on September 29, securing 257 votes over the latter’s 170 votes in a runoff.

ALSO READ: China seeks Japan’s cooperation for Beijing Games

ALSO READ: UK, Japan kick-start talks to deepen defence ties

Previous Story

Russia pinpoints Pakistan as culprit behind terror in Afghanistan

Next Story

Dragon makes inroads in Middle East

Latest from -Top News

IBPC Dubai charts new growth path

Former Tata Motors CEO Ravi Kant headlines exclusive event as Indian business council sets course for transformation….reports Asian Lite News The Indian Business & Professional Council (IBPC) Dubai has signalled a significant

Miles in the Malls!

Dubai Mallathon kicks off today – The emirate’s biggest malls transform into indoor fitness arenas, inviting residents to walk, run, and win — all while staying cool, healthy, and community-connected….reports Asian Lite

Famine grips Gaza, WHO warns

WHO said Gaza’s population is facing acute food insecurity under the Integrated Food Security Phase Classification…reports Asian Lite News The World Health Organisation (WHO) has issued its starkest warning yet about the

Lifeline from UAE to Gaza

UAE’s Operation Chivalrous Knight 3 sustains Gaza’s collapsing health system with hospitals, treatment, aid, and vaccines, offering vital relief to thousands amid deepening crisis….reports Asian Lite News The United Arab Emirates has

Modi, MBZ talk big ties

The call reaffirmed their keenness to “strengthen relations in line with their shared vision to leverage opportunities and deepen strategic cooperation.”…reports Asian Lite News In a significant diplomatic engagement, Prime Minister Narendra
Go toTop

Don't Miss

Iran’s economic crucible unsolved as nuke talks stalled

As one year of nuclear negotiations has yet to lift

Indian women’s hockey team beat Japan in FIH World Cup

A few minutes later Gurjit Kaur tried to give India