Japan Approves Bill To Help Companies To Develop 5G, Drone Technologies

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  • The companies that will adopt 5G technologies can also get tax incentives if they meet the standards set by the government
  • The government will submit the bill to the parliament and aims to bring it to effect around summer

According to a report by Reuters, Japan’s cabinet has approved a bill to support companies to develop secure 5G mobile networks and drone technologies. This bill will give companies that develop these technologies access to low-interest rate loans from government-affiliated financial institutions. This will be possible if their plans fulfill standards on cybersecurity.

The report added that as per the bill the companies that will adopt 5G technologies can also get tax incentives if they meet the standards set by the government. The government will submit the bill to the parliament and aims to bring it to effect around summer.

As per the report, last December Japan had unveiled tax measures directed to encourage companies to spend their cash piles on start-ups and other investments. It also helped firms to compete with China’s advance in 5G technology

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