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Japan government to compile second part of growth strategy in June: media

Japanese Prime Minister Shinzo Abe talks during a news conference after his meeting with Turkey's Prime Minister Tayyip Erdogan in Istanbul October 29, 2013. REUTERS/Osman Orsal

TOKYO (Reuters) - Japan's government will compile the second round of its growth strategy in June next year, which could focus on luring foreign companies to Japan and helping Japanese firms expand overseas, media reported.

The government could also consider deregulation to support venture companies, steps to improve the competitiveness of agriculture and public works for the Tokyo summer Olympics to be held in 2020, the Sankei newspaper reported on Saturday.

Prime Minister Shinzo Abe's government will start debating the second round of the growth strategy from the beginning of next year, the Sankei newspaper reported, without citing sources.

The government will also expand the Council on Economic and Fiscal Policy, a top advisory panel, to give it more authority to make policy proposals, the Sankei newspaper said.

Abe was voted into office in December last year due to his bold promises to end 15 years of deflation and revitalize the economy, but the first round of his growth announced in June left many investors disappointed.

(Reporting by Stanley White; Editing by Lisa Shumaker)