Border policy to be reviewed with more data; zero-tolerance on COVID-19 not possible: Japan

Having closed its borders till February-end, Japan on Tuesday said it continues to take a cautious approach but changes will be made to border policies as more data comes in and a zero-tolerance policy towards COVID-19 is neither possible nor appropriate.

Addressing the World Economic Forum's online Davos Agenda 2022 summit, Japanese Prime Minister Kishida Fumio said a transformation of the country's economy will be driven by digitisation and investments in green technology and human capital, as he called for for liberal democratic capitalism that balances growth and distribution.

''A key focus of my administration will be the revitalisation of Japan through a new form of capitalism. Unfettered state capitalism without adequate checks and balances produces problems such as widening income gaps, rural-urban disparities and social tensions,'' he added.

Flagging that there has been an over reliance on competition and self-regulation to constrain the excesses of market forces, the prime minister said this must change and that current policies are not sufficient to ensure that growth is sustainable and inclusive.

He also called for Japan to lead the world in green transformation and promised to more than double the investment in green technology to make it an engine of growth.

He also announced that a carbon pricing system will be introduced as soon as possible and Japan will continue to support the Asian emissions trading market.

Calling digitisation another important pillar for Japan's transformation, Kishida said, ''while Japan has traditionally lagged in digital uptake, COVID-19 has given Japan a chance to leap-frog its digitisation efforts.'' He said Japan continues to take a cautious approach on COVID-19, with borders closed until the end of February.

''Changes will be made to border policies as more data comes in. The government is taking a realistic view and he stressed that a zero-tolerance policy towards COVID-19 is neither possible nor appropriate,'' he added.

Klaus Schwab, the World Economic Forum's Founder and Executive Chairman, thanked Japan for taking an active part in collaborative global efforts to combat shared challenges.

''The capabilities of the Fourth Industrial Revolution open up new possibilities and opportunities. The future will be much greener, more digital and human-centered,'' Schwab said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)