3. Leading Tokyo’s economy to new growth

What we must do now, along with containing the spread of infection, is to rebuild our battered economy, and restore vitality and hope among people so that they can take strong steps toward a bright future. While the most important thing for us right now is to prevent the spread of infection, we will advance initiatives that will realize new growth for the further evolution of Tokyo.

Becoming the world’s city of choice as an international financial center

We will have Tokyo take the indisputable position as the number one global financial city in Asia. This is Tokyo’s mission as the driver of Japan’s growth and as a city with an overwhelmingly large number of financial ecosystems. And, it is no exaggeration to say that, amidst intensifying inter-city competition, this is our last chance to demonstrate Tokyo’s presence as the world’s city of choice. Last month, seizing the opportunity to accelerate our efforts to attract financial businesses from Asia, we set up the first overseas Business Development Center Tokyo in Hong Kong. We are also actively rolling out initiatives, such as offering temporary office spaces to foreign financial companies searching for opportunities to expand their business in Tokyo.

This month, we also established a new advisory board and have started working on the revision of the Global Financial City: Tokyo Vision. We are advancing discussion from new perspectives such as the SDGs and digital technologies. We will develop effective measures in tune with the international situation and changing times and will not cease in our efforts to promote the vision.

Toward new growth together with startups

In accelerating the urgent issue of digital transformation (DX), the growth of startups that generate innovation using 5G (fifth generation) mobile technology is indispensable. Recently, the Tokyo Metropolitan Government (TMG) became the first local government to be granted a license to set up a local 5G base station, and opened the “DX Promotion Center” with a 5G network at the Tokyo Metropolitan Industrial Technology Research Institute. We wish to have SMEs and startups fully utilize this facility to conduct demonstration tests for high-value-added products that use digital technologies, as Tokyo strives to bolster the power of its industries for new growth.

In addition, in collaboration with startups, where innovative products and services are created, we will open a center in Nishi-Shinjuku early next year to find solutions for various challenges facing the TMG. Innovative ideas that think out of the box will be unearthed through exchanges among the government, private sector, and startups for the establishment of a new model of public-private partnership.

Real and virtual support of SMEs

The Tokyo International Industry Exhibition, which has served as the forum for SMEs to grasp business opportunities, such as developing new markets and expanding sales orders, will entirely be moved to the “virtual” world this winter, and will be held as one of the largest online trade shows in Japan. As a new form for tradeshows to take in this age of “living with the coronavirus,” we will work to make it a success and lay the groundwork for the sustainable growth of SMEs.

On the other hand, the securing of personnel at SMEs is also an important issue in the “real” world. If more SMEs use foreign personnel with not only language abilities, but highly-developed specialized skills, business opportunities, such as the development of overseas markets, will expand and will also boost the growth of industry in Tokyo. This weekend, we will open the Tokyo International Recruitment Navigation Center to give the SMEs detailed support for securing diverse human resources from employment to retention. From both “real” and “virtual” worlds, we will strongly support the development of the SMEs that sustain Tokyo’s economy and jobs.

Enhancing the earning power of Tokyo’s agriculture

We will make Tokyo Smart Agriculture that utilizes advanced technologies a reality, and raise the earning power of agriculture. To serve as the forum to promote this initiative, we recently launched a research and development platform comprising diverse actors, such as the private sector, research organizations, and producers. Starting early next year, we will also carry out initiatives aimed at adopting new agricultural technologies, including remote training using local 5G networks. By bringing together the wisdom and technologies of the industry, government and academia, we will work to generate innovation that expedites the development of Tokyo’s agriculture.

Reinforcing the development of IT talent in metropolitan technical high schools

Japan is being left behind in the global competition, since it missed riding the wave of digitalization. With this strong sense of crisis, in partnership with the private sector, we will launch a new educational program, “Tokyo P-TECH (Pathways in Technology Early College High Schools),” in April next year to nurture global IT talent without delay. This will be the first five-year curriculum that combines technical high school and vocational school education in Japan, and with the full support of IT companies with cutting-edge technologies, we will offer students specialized and practical learning. We will first implement it at the Tokyo Metropolitan Machida Technical High School and then expand it to other schools in the future, in order to accelerate the development of talent who can generate new value through the power of technology.

Creating a new form of tourism

How do we support the tourism industry, which shoulders a significant part of Tokyo’s economy, amid restrictions on people’s movement and socioeconomic activities? It is now more crucial than ever for us to have a clear vision of the future direction of tourism promotion that considers these recent changes in circumstances. The other day, the TMG Advisory Board on Tourism Promotion compiled its views on the basic policy for tourism in this age of “living with COVID-19.” With the advisory board’s valuable recommendations that look toward the future, such as preparing an environment where everyone can travel safely and with peace of mind, making good use of the attractions of the Tama and Island areas, and creating new appeal for long-term travelers including facilities and services, we will work to create a new form of tourism, while properly taking preventive measures against infection.