The infrastructure ministry will boost financial support for efforts to prevent seaport flooding made in cooperation with private businesses from fiscal 2025, with disaster risks increasing amid climate change, ministry officials have said.
As facilities such as seawalls and quays are managed publicly and privately, the ministry plans to set up a consultative body involving various stakeholders to aid local governments trying to expand flood prevention measures.
The ministry also plans to provide tax breaks to companies working on raising seawalls systematically.
The financial support and the tax breaks will be included in the ministry’s budget request and tax system reform proposal for fiscal 2025.
As the sea level rises, concerns are growing about severe storm surges and high waves. If any areas in ports are inadequately protected, flood damage may spread, possibly affecting port functions, which are crucial to industry and logistics.
In March this year, the ministry began a flood prevention initiative called collaborative protection, which is designed to allow public and private organizations managing ports to take additional protective measures toward common targets.
The ministry will set up a consultative body to facilitate agreements among public and private entities on when and how much specific seawalls should be raised and to help them develop construction plans.
The envisioned financial assistance may also be given to support work to compile forecasts on flood damage so that the public and private sectors can share specific targets.
If private companies strengthen their port protection based on an agreement made in the consultative body, their tax bases will be halved for five years from fiscal 2026, according to a plan being considered.