Japanese consumer goods attract interest in Lao markets
Japanese consumer goods attract interest in Lao markets
Laos is becoming an interesting regional destination for foreign investors that are looking to take advantage of trade and investment opportunities, especially the rising demand for consumer products in the country.
Many foreign investors and companies have recently launched their stores and minimarkets in Vientiane in a bid to offer local and foreign residents better access to consumer goods and international high-end brands.
The imported goods with high quality and affordable prices are proving to be popular amongst local and foreign residents.
Several European and Asian grocery products are now available in Vientiane and other cities across Laos.
The mini stores which are directly importing their Japanese and Korean made products include J-mart and K-mart. These department stores offer a variety of consumer goods for their customers.
Moong Pattana International Public Company Limited, a Thai based sole distributor, is one of the foreign companies demonstrating its interest in importing Japanese products to the Lao market.
The company is distributing a wide range of baby goods from powder to laundry detergents under the Pigeon brand from Japan.
Speaking at yesterday's opening ceremony of the Pigeon store, Chief Executive Officer of Moong Pattana International Public Company Limited, Ms Suwanna Chokdee-anand, said this is the first store in Laos that has the sole rights to sell the Pigeon brand from Japan.
�We are now officially launching the Pigeon brand store, while consumer products for mothers and their children are also on the sidelines of the Lao government policy on healthcare for mothers and their children,� she said.
She said that once the Asean Economic Community came into effect at the end of 2015, the company has considered Laos as the first country where it would expand in the region.
Currently there are many kinds of products for children on sale at various stores and mini markets in Vientiane. Those imported goods are from different countries regionally and internationally.
However products from Japan are considered as one of the highest quality products in the world, so bilateral trade between Japan and Laos has been fully promoted over the past years.
According to the Import and Export Department under the Ministry of Industry and Commerce, Laos has exported products to Japan valued at US$53.28 million in the fiscal year 2015-16, with the figure projected to reach US$59.09 million in 2017.
Meanwhile the imported products were valued at US$76.15 million last fiscal year and expected to reach US$82.31 million this year.
The Lao products exported to Japan are mainly coffee products, cotton and handicraft goods. Meanwhile the main imported products are vehicles, engine parts and other consumer goods.
