Economy of Japan employment system to drive higher wages, on top of monetary and fiscal stimulus. Shinzo Abe has encouraged firms to raise wages by at least three percent annually (the inflation target plus average productivity growth). Shareholder activism is rare despite the fact that the corporate law gives shareholders strong powers over managers. Under Prime Minister Shinzō Abe, corporate governance reform has been a key initiative to encourage economic growth. In 2012 around 40% of leading Japanese companies had any independent directors while in 2016 most all have begun to appoint independent directors. The government's liabilities include the second largest public debt
Japan–Vietnam relations elements then shipped to Japan. The Official Developmental Assistance (ODA) pledged for 2011 by Japan reached 1.76 billion US dollars, which was four times larger than the donation from South Korea, Vietnam's second biggest donor, at 412 million. Moreover, Japan's 2012 committed amount of donation to Vietnam raised to 3 billion dollars. Bilateral cooperation on defense has been enhanced since the Haiyang Shiyou 981 incident in 2014, as both countries have experienced territorial issues with China. In a speech in May 2014, Japanese PM Shinzo Abe affirmed that Japan would provide Southeast Asian nations its "utmost support" in their South