Under the third medium-term plan covering the five-year period starting in April 2011, the Research Institute of Economy, Trade and Industry (RIETI) has established its mission to undertake theoretical and empirical research to create a grand design of putting the Japanese economy on a growth path and solidifying sustainable growth in the future. To this end, we have been conducting research activity by always keeping in mind our three Priority Viewpoints: 1) incorporating the growth of the world economy, 2) developing new growth areas, and 3) responding to changes in society and creating new economic and social systems for sustainable growth.

The first viewpoint reflects the importance of incorporating the growth of the world economy—particularly emerging Asia that has achieved remarkable results in recent years—to promote trade, investment, and business activities by leveraging Japan's scientific and technological capabilities. The second viewpoint represents the importance of theoretically and empirically analyzing research and development (R&D) policy and productivity improvement as a way to help develop new growth industries, particularly in areas related to green innovation and life innovation, by taking advantage of Japan's strength and social conditions. Finally, the third viewpoint exhibits the importance of overcoming a range of constraints we face today, such as an aging population, deteriorating fiscal health, the need to protect the environment, as well as building sound economic and social systems able to meet the changing needs of society in an effort to support the sustainable growth of our country.

Cognizant of these three Priority Viewpoints, we have been comprehensively conducting research that is conducive to ensuring our country's sustainable growth this century in close collaboration with researchers from outside RIETI, policymakers in Japan, as well as with overseas researchers including those from other Asian countries, the United States, and Europe.

Two years have passed since Japan was hit by the Great East Japan Earthquake. In order for Japan to overcome this major crisis and to revive the country, RIETI is determined to make comprehensive efforts to undertake research taking into account both medium- and long-term viewpoints.