On Tuesday, Japan’s cabinet approved a bill to support companies to develop secure 5G mobile networks and drone technologies midst a growing alarm from Tokyo policymakers over Chinese influence over the said technologies.
The bill aims to provide companies, who want to develop the technologies, funds which will attract low-interest rate from government-affiliated financial institutions provided their plans meet standards on cyber security. The bill also provides tax incentives to companies who adopt 5G technologies if they meet standards set by the government.
The government aims to submit the bill to the parliament and aims to bring it to effect around summer.
In December 2019, Japan unveiled tax measures aimed at encouraging companies to invest on startups and other investments which will help them better compete with China in the 5G space.