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Next, I will speak about relocation of the Tsukiji Wholesale Market to Toyosu. At the recent extraordinary session of the Assembly, you earnestly deliberated and approved the supplementary budget, paving the way for relocation of the market to Toyosu. We will now speed up initiatives for early relocation of the market to Toyosu, including additional construction to ensure the safety and security of the site and improvements to make facilities at Toyosu Market easier to use for tenants. In addition, we will continue efforts to gain the understanding and expel the fears of the people of Tokyo and business operators at Tsukiji Market, including clearly conveying accurate information. As part of these efforts, I recently toured the Toyosu Market with local residents.
We will steadily follow the necessary steps for relocation, including having the Expert Council check the effectiveness of additional construction measures when complete and filing an application with the Agriculture, Forestry and Fisheries Minister for approval of the market. By completing all of the required procedures to ensure the safety and security of Toyosu Market while conveying accurate information, I believe an environment acceptable to the wholesalers and local residents will be prepared. Concerning the specific time for relocation, we hope to arrive at an early decision by holding a number of discussions to seriously and carefully contemplate the matter, while also respecting the wishes of the business operators.
Meanwhile, in Tsukiji, following relocation of the market, we will advance construction of an aboveground section of Ring Road No. 2 and transportation hubs for the Olympic and Paralympic Games. Concurrently, an advisory panel to study redevelopment of Tsukiji will begin discussions on post-Games redevelopment of the area next month. We will advance staged studies on the specific vision for redevelopment, and while fully utilizing the strengths of the private sector, we will aim to begin construction as early as possible in the next five years.
Through these efforts, we will give shape to the basic concept and steadily push forward initiatives that will lead to sustainable growth for Tokyo.