Japanese businesspeople believe Laos is an attractive place for doing business because of its stable political situation.
“Political stability and an unchanging policy are the most important issues for businesspeople considering investing abroad. Laos has these attributes to attract investors,” said President of the Japanese Chamber of Commerce and Industry, Mr Hidetoshi Takaoki.
Mr Hidetoshi, who is also general manager of Mitsui & Co., made the comment at a meeting on the establishment of the chamber in Vientiane last week.
He said Laos has great potential for investment in the mining, hydropower, agriculture and forestry sectors.
“The manufacturing sector is also attractive because labour costs in Laos are low.”
The chamber will boost trade and investment between Laos and Japan, he said.
“ Laos and Japan have traditionally enjoyed a friendly relationship and this chamber is approved by the Lao government.”
There are currently about 50 Japanese owned companies operating in Laos, according to Mr Hidetoshi.
“Previously each company operated alone, but from now on they can hold discussions, share information, work together and help each other.”
The new chamber aims to boost trade and investment between Laos and Japan, provide contacts between its members, and also provide assistance towards the commercial activities of its members.
“It’s good for Japanese businesspeople operating in Laos as we can share information among ourselves and we can discuss issues with the Lao government. At the same time, this will help the government improve the business environment and attract more investment from Japan and other countries. ”
“Potential investors from Japan will be able to access our resources and information and will thus be more likely to come here.”
Mr Hidetoshi commended the Lao government’s efforts to implement practical policies that promote trade and investment.
By Keoxomphou Sakdavong
November 30, 2009
Vientiane Times
