The Japanese Prime Minister hailed his country’s world-leading green drive to boost economy during his speech at the WEF Summit on Friday.
Yoshihide Suga began his address by explaining his country’s response to the coronavirus pandemic, as well as his plans for the environment, digitalisation, free trade and the Olympics.
The prime minister acknowledged that the coronavirus crisis was affecting the health and lives of Japanese people, as well as business and the economy.
He said: “I am resolved that I am going to find an answer to the difficult challenges and lead the world by growing the Japanese economy.”
Mr Suga vowed to do the “utmost for the closure of this pandemic. I'm determined to ride over this difficulty, no one's health is left behind.”
He said that with the season being winter, the number of new cases was still high in Japan.
“We want to get the infection (rate) and Covid-19 pandemic under control as quickly as possible to enable people to regain a safe lifestyle,” Mr Suga said.
He highlighted how Japan had bolstered vaccine supply for developing nations by pledging more than $130 million.
Mr Suga then outlined plans to build a new engine for the growth that would propel the Japanese and global economy – a green and digital country.
“My administration declared last year that we go carbon neutral by 2050,” Mr Suga said. He expects this green revolution to create jobs for 15 million people.
“We will be moving forward with decisive enhancements of renewable energy, such as hydrogen and ocean windfarm, and regarding electric vehicles we plan that by 2035 all new vehicle sales will be 100 per cent electric,” he said.
The prime minister explained his vision for digitalisation, saying the pandemic has presented severe challenges but that plans will now be accelerated.
He said a digital agency will be established as the command centre directly reporting to him and it will commence its activities in autumn, helping to create a technologically progressive Japan.
“We will work with all our efforts so that Japan is a nation of science and technology that can lead the world with our innovation, even in a post Covid-era,” Mr Suga said.
The prime minister emphasised his “unwavering commitment to free trade” and pledged that Japan will lead efforts towards expanding free and fair economic areas and strengthening rules for a multilateral free trading system.
Referring to the World Trade Organisation, Mr Suga said: “While we continue to proactively work on WTO reform, we will show our leadership in realising what we call free flow of data with trust through the e-commerce negotiation at WTO.”
Of his country's relations with the Indo-Pacific nations, he said: “Japan will collaborate with like-minded countries and strategically promote our efforts to make free and open Indo-Pacific concept a reality.”
The prime minister stressed the importance of multilateralism and said that Japan will “work together with the international community to live up to the challenge of global issues in order to realise a united world”.
Mr Suga also highlighted Japan’s role as host of the Olympic Games saying that he is resolved to deliver it in a safe and secure manner.
The prime minister said: “The future beyond is full of hope. The Olympic (Games) will offer hope and courage to the whole world as a testimony of mankind prevailing over Covid-19 – and as a symbol of the unity of the world.”
The Olympics were due to be staged in Japan in 2020 but were cancelled because of the coronavirus outbreak. The event is now scheduled to take place from July 23.
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
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Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
How The Debt Panel's advice helped readers in 2019
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JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.
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November 26: ‘I owe Dh100,000 because my employer has not paid me for a year’
SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue.
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October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'
MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.
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The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press
How it works
1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground
2) Instead of water draining straight through the sand, it apparently helps the soil retain water
3) One application is said to last five years
4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare
