Vientiane — Japanese investment in Laos hit US$405.7 million (13.26 billion baht) last year, up 15% year-on-year, partly driven by manufacturing relocation after the 2011 floods in Thailand, media reports said on Wednesday.
Surging labour costs in China, especially in major cities, and Thailand's devastating floods in 2011 were key factors behind the move to increase investment in Laos, helping boost the number of Japanese companies based in the country to 60, said Motoyoshi Suzuki, economic adviser to the Japan International Cooperation Agency (Jica).
A Lao man eats an ice cream at the famous Buddhist temple Pha That Luang complex, in Vientiane in December, 2013. (Photo by AP)
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