Japan aligns policies to enhance business in S. Asia

The strategic alignment of the economic policies of Japan, spearheaded by Premier Shinzo Abe has caused a gradual shift in business interests, resulting in Japanese companies relocating their investments from China to South Asian countries.

To support these new developments, the Overseas Human Resources and Industry Development Association (HIDA) - Japan, which promotes Japanese business interests globally, launched a new Regional Hub Office in New Delhi, India to foster business partnerships with Japanese investors and HIDA's alumni network in South Asia.

JASTECA, President Athula Edirisinghe presents a memento to HIDA – Japan, President Kazao Kaneko to commemorate the opening of the new Regional Office of HIDA in New Delhi. Japanese Ambassador for India, Takeshi Yagi and State Minster of Trade and Commerce, India, Dr. E.M.S. Natchiappan look on.

HIDA - Japan, President Kazuo Kaneko said Japanese companies are enthusiastic about investing in South Asia.

Professor Tsuneo Yahagi who spoke on 'Japanese Investment and Management Today and Tomorrow', said that new opportunities and growth strategy would stimulate the economy of Japan. HIDA is the parent organisation of the Japan-Sri Lanka Technical and Cultural Association (JASTECA), which is an alumni association of scholarship holders from Sri Lanka, and trained by HIDA - Japan. During its three-decade long history, JASTECA with HIDA has trained over 3,500 entrepreneurs, CEOs, managers and top executives of public and private sector companies in Sri Lanka in various disciplines relating to business.

The initiative by HIDA will open business opportunities since Japanese investors and commercial enterprises will prospect for new investments and trade expansion in South Asian countries such as Sri Lanka, India, Bangladesh, Nepal and Pakistan.

This new regional office will play a pivotal role in business and investor match making, through HIDA's alumni offices in South Asian countries such as JASTECA and will also open more opportunities for training and development for entrepreneurs, business managers and engineers and for members of its alumni societies.

HIDA Research Institute (HRI) launched a new business development initiative 'Japan Business Platform' to help companies and HIDA alumni members to encounter various challenges such as finding Japanese business partners, mitigating cultural differences and language barriers, gathering information, employing and training personnel and localising management.

Several technically advanced Japanese SMEs, which use the latest technology and machinery find it challenging to conduct business operations in Japan due to high labour costs.

The SMEs, while supplying to large-scale Japanese manufacturers, also cater to other industrialised countries where Japanese companies operate such as Thailand, Indonesia, China and Malaysia. Information and data of such companies prospecting for new Asian partners will soon be made available in HIDA's Global Interface - Japan Platform.

Japanese process engineering companies and component and mould makers are interested in venturing into South Asia to cater to the fast growing demand in the automobile industry in India, Thailand and Malaysia.

The Indo-Lanka FTA is an ideal launching pad for companies planning to penetrate the Indian market.

The JASTECA-HIDA collaboration will eliminate cultural barriers and language difficulties when supporting initial business negotiations.

Video conferencing facilities will be used when communicating with potential Japanese investors and they will be encouraged to set up joint ventures in Sri Lanka.