Japan's House of Councillors on Wednesday adopted by a majority vote a law that will strengthen the country's economic security by ensuring the provision of basic products and infrastructure to the citizens
TOKYO (Pakistan Point News / Sputnik - 11th May, 2022) Japan's House of Councillors on Wednesday adopted by a majority vote a law that will strengthen the country's economic security by ensuring the provision of basic products and infrastructure to the citizens.
The voting was broadcast on the house's website.
The law defines the concept of "vital products" and is aimed at providing the population and the economy with stable access to these products and infrastructure that can strengthen the supply chains of commodities of special importance, according to the broadcast. The law also provides for a non-disclosure of information on patents that may be used for military purposes. The penalty for disclosure of this information is two years in prison or a fine of one million Yen ($7,670).
The law, which will go into effect gradually starting next spring, pays special attention to high-tech areas, including the development of artificial intelligence technologies, ensuring information security and prevention of cyber crimes.
According to the Japanese Kyodo news agency, the enactment of the law comes as China's economic rise has stoked global competition in high-end technology and the security environment is rapidly changing due to the Russian special military operation in Ukraine.
