The Council on Economic and Fiscal Policy plans to discuss the creation of special economic and other zones in an attempt to revive the slumping Japanese economy, trade minister Takeo Hiranuma said Tuesday.
"Such special zones for education, information technology, or the economy, as seen in China and other countries, will be considered," Hiranuma said.
The council is expected to focus on ways to reinvigorate the economy, comprehensive tax reforms and reforming government-run financial firms, following the release of the government's antideflation package last week.
Hiranuma, a council member, said the panel has already taken up the topic of special zones several times.
In the first move, the government has approved the establishment of special zones in Okinawa that will provide tax breaks to financial and IT firms that relocate from within or to the prefecture, in part to compensate for the heavy U.S. military presence there.
Regulatory breaks may also be considered in the special IT zones, the officials said.
Special educational zones may also be created to allow certain districts to provide advanced school programs, ministry officials said.