2. Tokyo drives Japan’s economy as the gateway to the country

Looking outside of Japan, the momentum of cities full of vitality knows no end. Not only powerhouse cities such as London and New York, but cities in Asia as well, including Beijing, Shanghai, and Shenzhen, which play home to many rising unicorn startups, are leading the advancement of cities while creating waves of new values. As competition between cities continues to intensify, we will boldly roll out global-minded growth strategies so that Tokyo can, as the gateway to Japan, attract people and money from around the world to drive our country’s economy.

Toward becoming Asia’s number one financial city

One of Tokyo’s crucial growth strategies is the Global Financial City: Tokyo vision announced last year. As part of that vision, the newly established Tokyo Financial Award is an initiative to further revitalize Tokyo’s financial sector by recognizing businesses that develop innovative financial services that meet the needs of Tokyo citizens, as well as outstanding businesses involved in ESG (Environmental, Social, and Governance) investment. The awards will be presented in February of next year following a review of award entries by a panel of experts.

On my recent official trip to London, together with private financial firms, we strongly promoted Tokyo as an Asian financial hub with the cooperation of the long-established financial center, the City of London. At a meeting with the Lord Mayor, who heads the City of London, we agreed to further strengthen cooperation through a program that will allow the TMG to send an employee to the City. Continuing with these efforts, we will speedily implement measures to make Tokyo Asia’s number one financial city, including launching a public-private financial promotion organization next fiscal year to attract overseas financial companies to Tokyo at an even faster pace.

Invigorating SMEs is vital to Tokyo’s growth

Invigorating SMEs that support the economy and employment is vital to Tokyo’s sustainable growth. At this regular session of the Assembly, we are proposing an ordinance to promote SMEs and small businesses, which clarifies the basic principles and policy direction for this, based on discussions by experts, leaders of relevant organizations, and others rooted in actual experience on the ground. Upon principles such as promotion of measures focusing on the importance of SMEs and collaboration with a variety of organizations, we will comprehensively implement effective policies as the responsibility of the TMG.

And, the compass setting forth the concrete path to follow will be the Medium to Long-Term Vision for the Promotion of SMEs (tentative title), deliberated by the aforementioned group of experts and others. The interim report, which was released last month, clarifies the form Tokyo should pursue in the Vision, and sets forth ambitious numerical targets to achieve that goal. With the aim of formulating the Vision in January, the contents will be polished up while taking various opinions into consideration.

Transforming innovative technologies into potential for Tokyo

We will also steadily advance initiatives for the growth of startups that generate fresh innovation and putting constantly evolving cutting-edge technologies into use.

Last week, the finals of the TOKYO STARTUP GATEWAY, one of Japan’s largest business plan contests, was held. I hope that the contest, which features young people looking to start a business competing against each other while refining their individual business plans with the support of the TMG, will lead to the birth of many world-class entrepreneurs. And, from this fiscal year, we will strongly support the establishment of businesses in a wide range of fields, including launching support for the cultivation of startups for drug development from the standpoint of utilizing promising technologies possessed by startups to develop pharmaceuticals and treatment methods -- a first for a local autonomy in Japan.

With the aim to put advanced technologies to use in society, we will operate an autonomous bus service in Tama New Town, and in the Tokyo islands, autonomous vehicles on Miyakejima Island with an eye to tourism promotion. In addition, we will advance a range of field tests. These include having robots perform tasks such as providing information and enhancing security at Toei Subway stations. During my recent London visit, I was also able to learn about examples of how open data is being utilized through public-private partnership from Mayor Sadiq Khan. Through analysis of government and private sector-held data, data projections, and other means, Tokyo will also channel this into the implementation of highly effective measures in the area of city management. In economic policy directions set forth last month by the central government’s Council on Investments for the Future and others, realization of Society 5.0, which aims to raise labor productivity by incorporating technological innovations such as AI, robotics, and big data, has been positioned as one of the main pillars of Japan’s growth strategy. Through the aforementioned diverse initiatives, Tokyo will rapidly bring out the infinite potentials of innovative technologies and lead the way to realizing the new society Japan must pursue.

Opening of the Toyosu Market

On October 11th, Toyosu Market, which will serve as the new “kitchen” for the citizens of Tokyo, opened. I would like to again express my gratitude to all of those affiliated with the market, including all of the business operators at the market who systematically proceeded with this major relocation from Tsukiji, and everyone in Toyosu who helped facilitate the smooth opening of the market. Since its opening, operations at the market have been going smoothly overall, and with the partial opening of Ring Road No. 2 last month, we have secured a route for the smooth flow of traffic. I have also visited the market twice and felt the strong enthusiasm of the market operators and the great vitality of the new market which embodies this spirit. While flexibly responding to the changing times, we will continue to work with market operators and everyone in the local community to establish the Toyosu brand and create its own vibrancy, and develop the market as the central market, which also plays a part in Tokyo and Japan’s growth.

And, with respect to Tsukiji, which is expected to take on a new role in further elevating the appeal of Tokyo, we are currently examining the urban development policy for the area. After widely gathering opinions from the people of Tokyo, we plan to compile the policy within this fiscal year. Leveraging Tsukiji’s potential and its prime location, we will work to materialize the new development plans so that the area can contribute to Tokyo’s sustainable growth.

Strengthening measures to combat climate change for a zero-emission Tokyo

To realize a sustainable Tokyo, we must lead the world not only in finance and the economy, but also in the area of the environment. As global momentum builds for realizing a post-carbon society, including the start of COP24 the day before yesterday, which aims to finalize the rules of the Paris Agreement, Tokyo will further bolster measures to combat climate change, focusing on greater energy efficiency and improved use of renewable energies, with the aim to become a zero-emission city.

Regarding the Tokyo Cap-and-Trade Program, which has been steadily achieving results since its fiscal 2010 launch, we will evolve upon the system, including raising the mandatory CO2 emissions reduction for office buildings and other facilities for the new compliance period starting in fiscal 2020, as well as introducing new incentives for the expanded use of renewable electricity. With regard to the program requiring small and medium-scale facilities to report their CO2 emissions and energy saving measures, along with announcing outstanding companies, by newly mandating reporting on the status of renewable energy use, we will further speed up the efforts of companies. Furthermore, regarding the environmental performance evaluation program for large buildings, through means such as newly established criteria for the highest ranked “zero-energy building” and also expanding buildings covered by the program, we will work to make buildings even more energy efficient.

After taking into consideration the opinions of the people of Tokyo, we aim to implement all of these programs starting in fiscal 2020.