COVER STORY • 1

T

he Need for Evolutionary
Industrial Policy to Achieve
Broad Economic Security

By the Research Committee on Evolutionary Industrial Policy

1. Recognition of the Current Situation
1.1. Heightening geopolitical risks and decline in the Japanese
economy and competitiveness
While geopolitical risks, such as the US-China conflict and RussiaUkraine war, are fast expanding, the competitiveness of the Japanese
economy is declining sharply. Under such circumstance, what needs
to be done to realize economic security in a broad sense?
Broad economic security will be defined by the following threepoints.
① (Strengthening competitiveness) Evolution of the Japanese-styleindustrial policy model② (Expansion of cooperative relationships with neighboring

countries) Development of an Asia-wide industrial policy③ (Core of economic security) Strengthening and expanding Japan-

US cooperation.
In realizing broad economic security, the concern is the weakening
national power of Japan, and this is signified by the stagnant wagesof the past 30 years. One of the large factors behind this is
productivity being sluggish compared to other advanced nations.
Aggressive fiscal and monetary policies under “Abenomics”
brought positive effects to the economy, and corporate earnings
improved. However, they did not turn to capital investment or rises inwages and this is thought to be a factor behind the economic slump.
In addition, we cannot forget that improvement in corporate earnings
under Abenomics was brought on by the good fortune of cheap
crude oil and natural gas prices. The rise in crude oil and natural gas
prices under the current Ukraine crisis has negated such good
fortune.
Stagnant investment is behind the decline in competitiveness ofJapanese businesses, and the issue is domestic investment notincreasing whilst the corporate sector owns capital. The reason forthis is the relative downsizing of the Japanese economy and the slow
transformation of its industrial structure. The ageing of society isalso having a negative impact on the economic growth of Japan. The
fiscal deficit and the decline in the effectiveness of fiscal andmonetary policies that come with an ageing society have become aparticular issue.
Since GDP is not growing, foreign aid such as ODA is notincreasing, and the amount of ODA has been surpassed by China,
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leading to a decline in Japan’s influence in developing countries in
Asia and other areas.
The promotion of digital transformation (DX), to which Japaneseorganizations have been slow to respond, and the utilization ofdiverse human resources will be particularly crucial for Japanesestyle management to evolve institutionally.
Unless these things occur, the competitiveness of Japanesebusinesses will continue to decline further, wages will stagnate, tax
revenues will struggle to grow and thus social security which isessential to an ageing society will not develop, leading to a negative
spiral of increased income disparities, lack of will to work further,and stagnant productivity.
There is no all-round cure to resolve this negative spiral. As
verified below, in order to resolve the structural stagnation due to thecurrent decline in competitiveness even if little, industry (large
enterprises and small and medium-sized enterprises (SMEs)), thefinance sector, government (central government and local
government), universities (universities in metropolitan areas), andeach individual citizen all have to reflect on their past and aim for a
fundamental reform of their customs and actions that are thought tohave invited this stagnation.

1.2. Review of industrial policies and trends in other countries
China’s presence is expanding in Asia both in the quantity andquality of its infrastructure development. Exchange rates of Asian
nations are starting to be linked to the Chinese yuan, and China isbecoming an advantageous environment for conducting internationaltransactions. Based on the expanding influence of China, there is aneed to discuss how to utilize Japan’s quality infrastructure, which isan advantage for Japan, and SMEs which are supporting industries,
while also discussing how to nurture SMEs and industries ascooperation with Asian countries is strengthened. Such an Asia-wideindustrial policy perspective is also extremely important to heighten
the resilience of supply chains.
There is also a movement among Western nations, not only in
China, in which industrial policies, once perceived negatively asprotectionist, are being actively utilized for economic security.
As was typically seen with solar panels, there is a situation where
despite leading in technological development, Japan loses out at theactual business implementation level. In addition to technology
development, there is a need to consider policies that will create
value-added and incentives to allow scaling of businesses.
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Traditional Japanese industrial policies include those that worked
negatively for competitiveness by slowing the metabolism, such as
regional finance and SME policies.
As industrial policies increasingly require qualitative evolution anda global perspective, there is a need to improve the quality of civil
servants in Japan. In Singapore, young and talented civil servantsreceive high benefits and have been successful amongst the finest.
The bureaucratic system of Japan with lifetime employment and a
vertical structure at its core is thought to require a drastic makeover.
Evolutionary industrial policies do not directly intervene in themarket, but as represented by Asia-wide industrial policies they fulfil
the role of “effective coordinator” with a broad ranging perspective
to bring out incentives for various market players, such as domestic
and international industries, private businesses and foreign
governments.

2. Policy Recommendations
2.1. Productivity improvement and economic growth
2.1.1. DX and regulatory reform

What should be aimed for as an evolutionary industrial policy is
not direct intervention, but indirect intervention which centers on
designing and developing an incentive system that respects theautonomy of private businesses.
The reasons for DX not progressing in Japan are the ignorance ofmanagement (asymmetry of information), the prejudice ofsupervisors without trying (status quo bias), and the lack of chance(failure to coordinate and path dependence). Measures to address
this include introducing a competitive market environment (cannot
survive without DX), provide re-learning opportunities for middle
management and organizational reform, digitalization of the public
sector, and diversification and globalization of personnel recruitment.
Through an evolutionary industrial policy, the transition from anindustrial society to a knowledge society should be promoted. Inorder to introduce a competitive market environment, a smoothmetabolism of industry is important. Promoting new entries,
reforming regulations that protect vested interests, and renewing thepolitical system are all necessary.
Japan’s civil law legal system, which does not accept new laws
unless there are legislative facts, is a hindrance to regulatory reform.
There is a need to release regulatory reform from such civil law
limitations. This is because such regulatory reform is critical tocreating new industries and businesses.
Specific policies include the introduction of the “spectrum
auction” (a bidding system for sales of frequency band licenses)
which almost all OECD nations have adopted. (Japan still employs
the “comparative screening method” where the Ministry of Internal
Affairs and Communications allocates licenses to business entities
upon conducting screening.)
Promoting market entry to Japan for ride-share services such as
4 Japan SPOTLIGHT • November / December 2022

Uber and Lyft which are widely used around the world can also be
considered. As the coronavirus crisis revealed, deregulation in the
medical and pharmaceutical area is also required.
2.1.2. Mobilization of the labor market in Japan

Employment is a derived demand of production, and as theenvironment surrounding the labor market changes dramatically,
Japan’s employment and working styles inevitably have to change. A
flexible labor market is required for people to work in a flexible
manner in line with the change in the megatrend. A highly flexible
labor market is expected to increase productivity by achievingsmooth labor redistribution and allocation of the right person to theright job.
Wage systems need to shift from seniority based to productivity
based. If wages and productivity become a match, it will enable
providing employment opportunities to all people regardless of theirgeneration, gender or nationality.
Japanese businesses have relied too much on cheap dispatch
workers, contract labor and cheap foreign workers as represented bytechnical trainees, and have failed to make necessary investments
such as digitalization. In pursuing reforms such as digitalization, it
will be critical to strictly follow equal pay for equal work. Strictly
following equal pay for equal work is also important in promoting
so-called job-type employment which sets out the details of the job
description in the employment contract.
Employment redundancy is not simple in Japan, and as a result
businesses are in a situation where they hesitate to proceed with new
hirings. Clear rules should be set on dismissals so that labor costs
can be saved.
It is also important to work on technological innovation such as AI
and robots to support employment of the elderly. This has thepotential to become one big industry in the future. It is also
important to create a labor market which retirees can enter at any
time so that talented elderly workers can fully exercise their abilities
through reemployment even after they have retired.
Human resource development has thus far centered on
businesses, but it should shift to center on individuals in the future.
Online education is a method that allows the acquiring of various
skills at any free time and encourages self-enlightenment. The
government should consider introducing a preferential tax system
for self-enlightenment. Enterprise-specific human investments havebeen a hindrance to mobilization.
For overseas personnel, while unskilled labor has been actively
accepted, Japan has been unable to offer an attractive labor andsocial environment to highly skilled personnel. As the decline in
population progresses, Japan cannot survive without utilizing
immigrants. There is a need to squarely discuss immigration policy.
Japan has benefitted from having cheap foreign unskilled workers,
but it should acknowledge that what is important is whether highly
skilled overseas personnel will come to Japan in shaping a futureintellectual society.
2.1.3. Improvement in education environment

It is important to globalize higher education (=universities) inJapan and acquire international competitiveness. In order to elevatethe quality of research at Japanese universities, there is a need toincrease the percentage of foreign professors and researchers. There
are issues such as not being able to bring home talented Japanese
researchers, or invite Asians to Japan who have studied in Japan andthen gained a Ph.D. from the United States and continued to work
there.
In order to resolve this issue, there is a need to increase theirsalaries or improve their working conditions, but the real impedimentis not the level of salary, but more the rigid wage structure wheresalaries are determined almost solely on seniority with complete
disregard for achievements or research areas.
For significant improvement in such working conditions for
professors and researchers, an enhanced tax system for donations touniversities is crucial, especially tax deductions. There is a need toenable fundraising activities that universities in Western countries
are conducting. There is also a need to train experts on fundraising.
For talented foreign nationals to work in Japan, what may be more
important than the wage system, in a sense, is the environment forthat person and for his or her family to live in, and the education
environment for the children is especially important. Not only for
those from the West, but for the elites of East Asia and India,
whether their children can get into top European or US universities isa highly important issue, and in order to achieve this goal, whether
an opportunity to access middle school and high school education ina good-quality English (+French) environment is available or not
becomes the key. An enhanced education environment, not just an
enhanced English education, that requires the use of English in all of
its curriculum and occasions will be important for the Japanese, and
it is also equally important in recruiting not just university faculty but
also for businesses to hire talented foreign nationals with highacademic achievements and high skill-sets.
2.1.4. Industry-government-academia collaboration

In order to strengthen Japan’s competitiveness and promote
innovation, there is a need to fundamentally revise the role ofindustry-government-academia collaboration such as by further
promoting cooperation between the social sciences and businesses.
For universities and businesses to cooperate, coordination on bothsides will be required, but from the perspective of SMEs, there is ahigh threshold in reaching out to universities to trigger that process.
It is important to lower the threshold by offering success cases ofindustry-government-academia collaboration.
University researchers depend too much on government funding,and it is important to lower this and collect private funding. A reviewof the donation tax system and the introduction of tax deductions are

therefore imperative. Regional universities should enhance funding
in this manner and be the center of regional revitalization.
There is also the idea that businesses should retain expert
personnel on finance within the company in order to utilize theretained earnings of businesses. To achieve this goal, policy
guidance should also be considered.
2.1.5. Activation of regional revitalization

In order to create ideas and projects that will serve as
breakthroughs for declining regional economies, human resource
development and methods of fundraising such as crowdfunding arenecessary. There is a need to create a new system for revitalizationof regional economies that does not rely on the central government.
As the regional population declines and downsizing of the market
continues, how to urge withdrawal, mergers and succession ofbusinesses, and to what extent mergers and concentration will betolerated without damaging the region’s traditions, culture andvitality will also become big issues.
As services become more important in industrial agglomeration
policies and downsizing of industrial agglomeration policies proceed,
initiatives by the local intermediary platforms (municipalities,
regional finance, chambers of commerce and industry, etc.), local
municipalities and citizens are becoming more important comparedto the simple government-led subsidy policies.
The idea of industrial policy should be transformed, and the target
should change from “hard to soft” and its purpose from “industrial
development to nurturing intellectual society”. Japan’s regional
revitalization policy should change from a centralized structure to adiversified and bottom-up structure.
Regional universities need to be more open in order to become thecenter of regional revitalization. Many undergraduate and graduate
students of regional universities become good entrepreneurs, andthey are the hidden forces. In this regard, matching regional
universities with SMEs is important.
A Japanese local government tends to implement the same
policies as other ones do as it is afraid of being criticized for taking aunique approach. Even if it fails by adopting the same policies, it
believes it can share responsibility with all the others. However, now,in order to restore the vitality of its local economy, it would need toencourage competition among local government policies, since it isthese policies that would attract businesses or universities.
Thus, assessments and rankings of regional governments using
various axes is also important.
Consolidation of regional universities should be undertaken
rigorously, and strengthening their structure should be planned.
Online remote classes, digitalization and a credit transfer systemshould be utilized effectively.
Policy coordination between regional municipalities and heads of
local governments should be strengthened and at the same time
researchers in economics should participate in policies, so thatJapan SPOTLIGHT • November / December 2022

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planning of policy ideas, their implementation and assessment
should be conducted scientifically.
In addition to traditional loans, policies may be necessary to
expand equity financing and crowdfunding, which venturecompanies in metropolitan areas conduct, to regional economies.
Relying on foreign capital and foreign powers is easy but dangerous.
Its risks should be fully considered, but on the other hand successcases in certain regions should be researched and analyzed, and it
may be worth considering identifying and promoting what industry
types and business models are desirable for Japan for investment
from foreign-owned companies, including those in China.
In this instance, it is important to put in place a mechanism or
system that can clearly protect areas such as infrastructure andsensitive technology where foreign-owned companies or Chinese
capital should not enter and also identify actions that are notwelcome.
2.1.6. Improving the structure of large enterprises

There is a need for large enterprises in Japan to share thecommon understanding that a further decline in competitiveness willlead to a national crisis for Japan. In order to find a way out of thisdifficult situation, drastic reform is necessary. Abolition of theseniority system, building a wage structure utilizing the merit system
according to productivity, flexible promotion, and expansion of jobbased employment is essential. In addition, Japanese businesses are
slow at decision-making and are short of personnel who arecompetent in the global arena. These points also require fundamental
reform.
The current yen depreciation will not contribute to improvement incompetitiveness as it once did. This is because Japanese businesses
are not profiting from exports but are from entering overseas
markets. Rather, the yen’s depreciation and the rise in energy prices
will further accelerate the vicious cycle of worsening the fiscal deficit
through worsening the current balance.
Despite carrying surplus resources, many large Japaneseenterprises have been unable to commit management resources toinnovative activities with high uncertainties. In order to mitigate thisissue, reasoning and story-telling to commit resources to innovative
activities such as SDGs becomes important. These do notnecessarily have to be economically motivated.
Compared to the Nordic countries or Israel, there is little
collaboration between businesses to achieve innovation.
Collaboration between large enterprises and venture companies, andcreation of an intra-enterprise venture is required.
There is research that found that when personnel who havebackgrounds in large enterprises, especially those who haveexperienced management positions, start a business, it is difficult forthem to create innovation. Research and analysis on businesses thathave failed in support for start-ups will provide useful information infinding out what is necessary for innovation.
6 Japan SPOTLIGHT • November / December 2022

For businesses to grow, there is a stage that creates 1 from 0 anda stage that creates 100 from 1. In order to develop the latter stage
where Japan is lagging, promotion of corporate acquisitions should
also be considered.
2.1.7. Revitalization of SMEs and support for start-ups

Reform of the credit guarantee system was implemented tosupport start-ups, but the entry rates of new businesses did not go
up that much. There is also research that showed the percentage ofwomen among those that started businesses using credit guarantees
being extremely low.
There are issues with the response of financial institutions once
credit guarantees are used. Many comments came in frombusinesses saying “financial institutions actually did nothing”.
Financial institutions should aim to enhance enterprise value by
working alongside the businesses.
The credit guarantee system was originally designed for thegovernment to guarantee start-up capital by bearing the risk, and therole of the financial institutions was expected in working on issues
such as employees and business matching. Financial institutions
should actively reach out to clients and help clients grow theirbusiness. Deposit-taking financial institutions do not necessarily
excel at taking risks and play the role of the escort runner to theentrepreneurs. Offering capital though crowdfunding, not loans, ispreferable.
Improvement in the financial literacy of management is also
required, and the role played by the chamber of commerce andindustry and the activities of business associations is significant.
There is a need to improve the financial literacy of SMEs on both thefund-raising side and the asset management side. What is mostimportant to improve the productivity of SMEs is human resource
development.
Improvement in the status of the Institute for Small Business
Management and Technology is anticipated by positioning it as aprofessional graduate school and conferring degrees on graduates. If
students from Asia were to be accepted as well, they can be expected
to be active as highly skilled foreign professionals in the future. It isalso important to develop professionals who can take on the role ofthe escort runners of the founders of the start-ups.
Lastly, traditional SMEs, not just the venture companies that arestarting up, need be careful in not becoming a zombie enterprise
which has relied too much on interest-free loans from thegovernment.
2.1.8. Need for a national strategy

Finding out the fundamental cause of the continuous decline ofJapan’s national power for the past 30 years, reversing the tendencyof the Japanese economy to decline through a national strategy, andputting Japan on a development path are urgent tasks. One way to
put Japan on a development path is raising wages, but this is amanagement decision and therefore at the core is expected
expansion of demand and improved productivity.
In a nutshell, the root cause of wages being low and stagnant isthe deterioration in the competitiveness of the Japanese economy.
Looking back, what led Silicon Valley, China and postwar Japan
were national strategies. Going forward, Japan should aim foreconomic development under a national strategy, and target areas tobe considered include information, data, space, medical treatment,
health and food. On the other hand, policies that are thought to havedelayed the metabolism of industries and lowered competitivenessshould be abolished.
2.1.9. Evidence-based policy formulation

In an era where the Information and Communication Technology(ICT) has developed and big data is utilized, there is a need morethan ever to implement policies based on evidence (EBPM =Evidence Based Policy Making).
In order for the government to promote empirical studies basedon data and quantitative policy evaluation, a budget for data scienceshould be created in economics departments. The time is now forgovernment-academic cooperation to also be brought todepartments in the humanities. It is also important to bring inpersonnel who can conduct quantitative analysis and explain the
results to the general public in easy-to-understand language. The
utilization of those who have obtained Ph.Ds is expected.
Theoretical research that carries out qualitative analysis andestimations should also be considered as evidence. Economic theory
can contribute to EBPM through implicating cause and effectrelationships that require attention and analyzing issues whereobtaining data and experiments are difficult.
Further, EBPM is also impacting reviews of recent industrial
policies. A certain positive impact is now being recognized forindustrial policies through a more precise empirical analysis,compared to the past where the market distortion impact ofindustrial policies was solely emphasized. And those industrial
policies were looked upon as typical protectionist policies.
In fact, to this date, research to verify the positive impacts of thesepolicies has been conducted including the economic impacts of
JETRO’s promotion of export programs and regional trade
agreements and the impact of the implementation of technology
development.
2.1.10. Sustainability of finance

The fiscal deficit continues in Japan and Japan’s debt ratio (toGDP) is exceptionally high by global standards. As calls for fiscal
consolidation are expressed around the world, there is a need to
discuss the sustainability of public finances. In particular, it shouldbe acknowledged that increases in the issuance of government
bonds mean passing the tax burden on to future generations.
Japan’s public spending is not necessarily high if social security

expenditure and government bond expenditure are excluded. The key
is how to use a limited budget efficiently. Generally, it has been
pointed out that the government outlook for its fiscal balance is too
optimistic compared to private outlooks. There are substantiatedoutcomes of analysis that have found that outlooks from thegovernment, which creates the fiscal rules, have smaller gaps thanthose of private entities.
Discussions about a carbon tax as a measure against global
warming are worth watching. There is a need to consider this within
the review of the overall energy tax system. Policies to promotetransformation in investment activities from a long-term perspective
are necessary to achieve a decarbonized society.
There are also issues with the non-traditional monetary policies
that the Bank of Japan is implementing. Up until now the majority ofJapanese government bonds with a maturity of less than 10 years
have been supported by the monetary policies of the BOJ. But withdebt monetization, which covers the fiscal deficit by printing more
BOJ notes, consideration should also be given to the possibility ofmonetary policies not being implemented in a flexible manner whensomething happens in the future.
In order to unearth bold private investment, pump-priming
investment by the government is necessary. While aiming to achievethat through wise spending, it should be noted that under financial
restrictions, increases in the consumption tax may also be required.
In considering Japan’s financial issues, recovering
competitiveness is a top priority. As the ageing society progresses,
Japan’s domestic savings are declining. The percentage of foreign
ownership of Japanese government bonds is also rising. If
competitiveness declines and exports do not rise, it will lead to a
deficit not only in the trade balance but also in the current accountbalance. As a result, yen depreciation will continue, leading to
inflation through rises in import prices. Financial tightening will be
conducted, leading to a fall in government bond prices, and throughincreases in interest payments public finance will further worsen.
2.1.11. Improving the appeal of the profession of civil
servant

In the US, the role of the private sector is more emphasizedcompared to the bureaucracy. Under the market mechanism, private
enterprises are advocated to expand both domestically and overseas
using their own power of being a private enterprise. In contrast, theroles of civil servants are emphasized in France and Germany. US
private enterprises and private financial institutions do not require
much help from the government and rely on their own power using
English to expand overseas and raise profits. In contrast, Japan,
France, Germany and others do not use English as a motherlanguage and that makes it difficult for them to expand overseas like
US businesses have.
Implementing an overseas strategy with the government and theprivate sector working together is necessary for Japan. In addition,
Japan SPOTLIGHT • November / December 20227

private enterprises alone cannot collect ample information fromoverseas, and therefore gathering of information from local Japanese
embassies and JETRO will be essential. With talented personnel inthe government sector being active on this front, the government
and the private sector need to work together on Japan’s strategy.
However, the number of those that aspire to be civil servants iscurrently declining and moreover the turnover of young civil servants
is increasing. Enhancement of the quality of civil servants as well as
improvements to the working environment are required. In addition,
adverse effects of the vertical structure of the government are being
highlighted, and improvement in the hiring system of civil servants
as well as their promotion system is an urgent issue.
In order for talented personnel to come together in thebureaucratic system, a pay structure based on abilities in addition toseniority should be built, and highly talented civil servants should be
paid compensation comparable to the private sector.
Specifically, in order to break down the vertical structure ofgovernment, human resources should be unified under the Cabinet
bureau of personnel affairs. At the same time, mid-career
employment as well as re-employment of those changing jobs
should be made possible, and a public recruitment system for
positions above certain posts should be considered. In essence, inorder to eliminate the involvement of politicians and the Prime
Minister’s Office in human resources, a third-party personnel
evaluation committee should be established. For comprehensive
service positions, compensation should be made equivalent to theaverage of the top 100 corporations listed on the first section of theTokyo Stock Exchange. Pensions should also be around the samelevel as in other major countries.
Once personnel enter the bureaucracy, individual skills growthrough working in various positions, and at the same time it isnecessary to enhance training and study abroad programs as welland establish an online education system. After the expansion ofcoronavirus infections, the number of remote meetings has gone up,
and the education system for civil servants should also include asystem where lectures can be attended when there is extra time.
Furthermore, human resource development programs such asattending lectures by foreign leaders should be promoted so that asystem can be established to provide indirect support to overseas
expansion of Japanese businesses.
In order to lighten the logistical office work of the Diet, Diet
statements should, in principle, be made by the ministers, andnotifications of questions should be made, in principle, one weekprior.

cooperation with surrounding countries and ASEAN, it is important
to dispose of the mindset of being a superpower.
Not only in technology, but cooperation between governments indeveloping legal systems and setting rules and regulations isnecessary, and it is important for Japan here to exert its influence.
Japan’s rules differ from other global rules. It is thought that if rules
and systems were the same for Japan and other countries, it will beeasier for businesses to be more active and conduct investment.
If training of civil servants were to be carried out not just for theJapanese, but on an Asia-wide scale, it will be useful in constructing
a human network.

2.3. Japan-US cooperation with economic security in mind
2.3.1 Importance of Japan-US cooperation

For economic security, the US is strengthening its industrial
competitiveness through active industrial policies, and showing acompetitive attitude towards China. External policies under theadministration of President Joe Biden focus on a return tointernational cooperation and coordination of willing nations. While
protectionist and US centralistic unilateral measures are still being
observed, a framework for Japan-US coordination and cooperationsuch as the Japan-US Economic Policy Consultative Committee(EPCC) and Quadrilateral Security Dialogue (QUAD) is coming
together.
Specific areas of potential cooperation include making supply
chains resilient, developing key infrastructure, and developing andsupporting advanced critical technologies
2.3.2 Other points to consider

Corporate cooperation between Japan and China can have both
positive and negative impacts on the competitiveness of Japanesebusinesses and economic security of Japan.
On the security side, technology leaks require attention.
Developing mechanisms and systems to protect domestic
technologies is imperative, such as selection of areas, for example
infrastructure and sensitive technology, that require restrictions offoreign capital inflows including from China and clarifying prohibited
activities.

2.2. Asia-wide industrial policy and Japan-Asia cooperation
Japan does not possess the power to confront the two great
powers, the US and China. In order for Japan to exert its presence ininternational society, there is a need to collaborate with multiple
countries and regions, like the EU does. In order to deepen regional
8 Japan SPOTLIGHT • November / December 2022

The Japan Economic Foundation (JEF) initiated the Research Committee on
Evolutionary Industrial Policy with prominent Japanese experts in November
2021, and concluded its role by publishing recommendations in June 2022.