WATI editor
Apr 26, 2024
Japan approves new SME contracting guidelines for 2024.
The Japanese government has approved the "Basic Policy on Contracts Involving SMEs for FY2024" to increase procurement opportunities for small and medium enterprises and small-scale businesses in public sector projects. This policy, decided in a cabinet meeting on April 19, 2024, sets a continued overall target for SME contracts at 61% and introduces measures to ensure resilient wage growth amid rising prices. Additionally, in response to the 2024 Noto Peninsula earthquake, special considerations are being made to enhance contracting opportunities for local SMEs in the affected areas, reflecting the government's commitment to supporting regional economic recovery and development.