April 4, 2011
Nomura Research Institute, Ltd.
We offer our heartfelt condolences to everyone affected by the Tohoku Pacific Earthquake, and our prayers for the speediest possible recovery.
On March 15, 2011, Nomura Research Institute, Ltd. launched an earthquake recovery assistance project team under the direct authority of its president, Tadashi Shimamoto. The team has completed a recommendation for promotion of the Tohoku region and revitalization of local industry. Its main points are as follows.
In order to give hope to the residents victimized by the Tohoku Pacific Earthquake and present prospects for the future of Japanese industry, it will be important to hammer out a vision for "Tohoku Reconstruction" quickly. To bring vitality to the stricken regions, industrial revitalization that supports regional employment and growth will also be important. It will be necessary to continue creating new industries in this region by regenerating the fishing/seafood processing and agriculture and forestry industries that suffered devastating damage, along with promoting infrastructure as clean energy development and production bases, as well as medical and welfare industries.
In order to promote reconstruction, it will be desirable to exploit industry accumulations and local resources in damaged areas such as Sanriku, Eastern Sendai (Natori, Iwanuma to Ishinomaki), and Fukushima Hamadori, and partner with inland areas that escaped damage and other areas in and outside of Japan to promote industrial revitalization. Furthermore, in revitalizing and invigorating industry in the stricken areas, it will be important to actively utilize new systems and frameworks such as "regional development through regional sovereignty," "broad-ranging local government partnerships," and "PPP (public-private partnership): Social capital development through government and private sector cooperation".
We believe that the establishment of a Tohoku Regional Revitalization Corporation (provisional name), an executive body that tackles regional and industrial revitalization flexibly and expeditiously, is important in order to continue to concretely promote reconstruction in the stricken region, which covers a wide area. Sponsored by the national government, local governments, and private businesses, this body would invest in reconstruction projects and industrial and corporate revitalization projects in damaged areas, and play the role of promptly carrying out reconstruction of the Tohoku region as a whole.
Diagram: Vision for Activities of the Tohoku Regional Revitalization Corporation (provisional name)
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