Japan to create $6.6 billion fund to develop space industry

by MMC
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Japan plans to create new 1 trillion yen ($6.6 billion) fund develop the country’s space industry. “We believe this is a necessary fund to accelerate our country’s space development so that we do not fall behind in the face of increasingly intense international competition,” said Sanae Takaichi, Minister of Foreign Affairs. responsible for space development, during a press conference last week. The Japan Times reports: The fund will be allocated over a period of 10 years to the Japan Aerospace Exploration Agency (JAXA), a spokesperson for the Ministry of Education, Culture, Sports, Science and Technology said. Some 300 billion yen was set aside for this fund in the latest supplementary budget approved by the Cabinet on Friday. This funding, which will support JAXA and the development of Japan’s space industry, responds to the public and private sectors’ increased attention to space activities.

Last June, Tokyo unveiled a basic plan for space, detailing budgetary support for private sector innovation as an area of ​​business growth. At the same time, he also unveiled a space security initiative, which calls space “a major arena of geopolitical competition for national power in diplomacy, defense, economics and intelligence, as well as for science, technology and innovation that support these national powers. “.

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