Japanese business operators seek investments in Laos
Japanese business operators seek investments in Laos
Business operators from Japan are seeking to operate in service sectors under their own franchise name or with other business types in Laos.
The Japan External Trade Organisation (JETRO) yesterday led more than 30 Japanese business operators to visit leading officials at the Ministry of Industry and Commerce.
During the visit, Minister of Industry and Commerce Ms Khemmany Pholsena thanked the business delegation from Japan for selecting Laos as one of their destinations.
Japan is the second largest investor in Asean and it is the first official development assistance provider to Laos and ranks 6th place out of 53 countries who are investing in Laos.
Over the past few years Japanese investment projects have played a significant role in the investment climate of Laos with ever more Japanese companies coming to invest in the country.
At present, there are more than 100 Japanese companies investing in Laos which includes 12 investing companies in the Savan Seno Special Economic Zone in Savannakhet province, 6 investing companies in Pakxe-Japan SME in Champassak province and 3 investing companies in VITA Park in Vientiane.
Ms Khemmani urged business people from Japan to consider investment in SMEs which represented 99.98 percent of the total number of businesses in Laos while large enterprises represented 0.2 percent.
�In addition, Laos is now promoting tourism so it will need Japanese business operators to operate service businesses in the tourism sector which will help to promote tourism and attract more visitors to Laos.� She said
She encouraged Japanese business people to have a look at the education sector which they should consider investments in schools which will help to develop human resources in the country.
In the hospitality sector they could consider investments in hotels, resorts and restaurants.
It is of notice that there are many Japanese restaurants in the country but they could invest more in the service type restaurants to attract tourists from Japan, Asean countries and around the world to Laos.
Besides this, Ms Khemmani also encouraged Japanese business people to invest in the logistics sector where Laos has the potential to turn itself from a landlocked country to a �land-linked� country in the region by linking transportation and logistics with neighbouring countries.
The Amended Law on Investment Promotion has been adopted by the National Assembly VIII legislature in 2016 which will facilitate investment for foreign investors in Laos, she also suggested.
�This mission in the service sector is continued from previous missions in the agriculture and industry sectors here. JETRO has had missions in many countries but there has not been a continuous mission like in Laos which mean business in Laos is very important,� Vice President of JETRO Mr Tatsuhiro Shindo said.
�It is believed that business people from Laos and Japan will have business-matches and then will be able to set joint venture companies in the country after this mission,� Mr Shino added.
During the evening of the same day, Japanese business operators met with six outstanding Lao business operators in Vientiane to seek business partnership.
