Japan passes economic security bill to guard sensitive technology

 Japan passes economic security bill to guard sensitive technology


Vacant seats were spotted as lawmakers practiced social travel, during Japanese Prime Minister Yoshihide Suga’s policy at the opening of the parliamentary session in the Lower House in Tokyo, Japan January 18, 2021. REUTERS/Issei Kato

Register now for FREE unlimited access to Reuters.com

TOKYO, May 11 (Reuters) – Japan’s parliament on Wednesday passed an economic security law aimed at safeguarding technology and strengthening critical supply chains, while also imposing tighter regulation on Japanese companies working in sensitive sectors or critical infrastructure.

The legislative measures, which are primarily aimed at China, will be implemented within two years if they are implemented, according to the law. This comes after the United States imposed a ban on the import of technology, such as semiconductors, amid growing tensions in Beijing. read more

The new law also came as Russia’s invasion of Ukraine – which Moscow called its actions “a special operation” – added pressure on Japan to do more to protect supply chains and infrastructure from hacking and cyberattacks, and ensuring that technology critical to national security is not. stolen.

Register now for FREE unlimited access to Reuters.com

It will give the Japanese government the power to order companies to notify them of software updates and review certain equipment purchases in 14 industries, including energy, water supply, information technology, finance. and transportation.

The legislation also provides a subsidy for companies to help them strengthen supply chains against disruptions such as shortages of components shipped from abroad. It even created a system for government officials to conduct on -site inspections of companies.

The new security mechanism it outlines promises government money for research and development into key technologies considered important for economic security.

It also established a system of secret patents kept in Japan to ensure that technological advances were not used by other countries to develop nuclear weapons or other military equipment.

Register now for FREE unlimited access to Reuters.com

Reporting by Kaori Kaneko and Tim Kelly; Edited by Kenneth Maxwell

Our Standards: The Thomson Reuters Trust Principles.



Source link

Related post