Japan's PM Abe outlines next steps in growth strategy: women, open economy, new technology

Prime Minister Shinzo Abe says reviving Japan's growth will depend on further opening the economy and tapping the underutilized potential of its women and advanced technology.

Abe outlined the next steps of his grand plan for restoring Japan's economic power in a news conference Friday, describing a slew of initiatives he said would help awaken Japan's "sleeping dynamism."

Abe has made difficult reforms the third and final part of his economic strategy after drastically easing monetary policy in hopes of vanquishing chronic deflation, and boosting public spending.

Among the initiatives he sketched out Friday were plans for a government-backed national institute of health to help support medical research, a proposal to extend parental leave by up to three years, and trial employment programs to encourage more hiring.