Lao NEWS on LNTV: JETRO office opens to promote Japanese investment in Laos.30/4/2014, VO JETRO office opens to promote Japanese investment in Laos
INTRO: The Japan External Trade Organisation (JETRO), a Japanese public organisation aiming to boost external trade and foreign investment officially opened a new office in Vientiane early this week, signalling growing Japanese investment interest in Laos.
STORY: The new office is scheduled to be fully operational in July. It is the 74th overseas base and 10th in Southeast Asia for JETRO. According to the Japanese trade organisation, the newly-opened office will be joining its existing network covering 56 countries across the world.
JETRO Chairman, Hiroyuki Ishige spoke at the opening ceremony in Vientiane on Monday. He said he hoped the JETRO Laos Office would work to promote more investments from Japan as well as to boost the growth of local industries.
Minister of Planning and Investment, Somdy Douangdy, Minister of Industry and Commerce, Ms Khemmani Pholsena, Japanese Minister of Economy, Trade and Industry, Mr Toshimitsu Motegi and other senior government officials from both sides were among those present at the opening ceremony.
According to JETRO, Laos has been attracting more Japanese corporations of late and the number of Japanese companies operating in the country increased to over 100 in 2013 from 77 in 2012.
Recently, a number of Japanese companies have established factories in the Savan-Seno Special Economic Zone, including Nikon and Toyota, which are set to become their production bases in Laos. With the rising number of Japanese investors looking forward to operating their businesses in Laos, JETRO has opened its office to backup the investments from Japan and promote growing trade ties between the two countries.
JETRO also believes the political stability, cheap labour and robust economic growth are key factors to attract more investors to the country.
According to Minister of Planning and Investment, Somdy Douangdy, Minister of Industry and Commerce, more than 80 investment projects worth more than US0 million are currently being pursued by Japanese companies, specialising in several different sectors, especially in electricity, industry, handicrafts, agriculture and services.,