TOKYO, Nov. 13 (Xinhua) -- The Japanese government has decided to set up a fund of 1 trillion yen (about 6.59 billion U.S. dollars) over 10 years for Japan's space agency to boost space-related businesses in the country, local media reported.

The large-scale, long-term aid is aimed at achieving the government's goal of doubling the domestic space-related market from the current size to 8 trillion yen in the early 2030s, by encouraging the participation of businesses or other sectors, public broadcaster NHK reported on Sunday.

The government is expected to decide on project themes under a space technology strategy that it aims to draw up by the end of the current fiscal year. Based on the themes, the Japan Aerospace Exploration Agency (JAXA) will select suitable applicants for subsidies and other assistance, the report said.

The government plans to allocate the funding to companies, universities, and other entities to support the development of space technology. Enditem

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