Lao political stability attracts more Japanese business people

(KPL) Japanese business people believe Laos is an attractive place for doing business thanks to its political stability.

Political stability and a constant policy are the most important issue for businesspeople considering investing abroad. Laos has these attributes to attract investors, said the President of the Japanese Chamber of Commerce and Industry, Mr. Hidetoshi Takaoki.

Mr. Takaoki who is also the 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. Takaoki.
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 its members, provide various kinds of information to the members, to make proposals and suggestions to Lao government for the environment of investment and business environment in Laos and also provides assistance for the commercial activities of its members.

KPL Lao News Agency