Laos will soon become a production and export market for electronics and spare parts to Asian markets, especially those in Japan, China and Thailand, according to the KPL News.

Speaking at a recent ceremony to inaugurate the Mitsubishi Materials Corporation (MMC) Electronics Factory, President of MMC Hiroshi Yao said the company selected Laos to produce sensors for home and vehicle air conditioners for the world market.

Located in Vientiane Industrial and Trade Area (VITA Park), the factory has a production capacity of about 100,000 units each month.

According to Japanese Ambassador to Laos Hiroyuki Kishino, Japan and Laos have signed an agreement for an economic strategy development partnership which has attracted a number of Japanese investors to Laos.

He also said when Laos joins the ASEAN Economic Community at the end of 2015, a number of Japanese companies will move their production bases to Laos due to its favorable conditions and incentive policies.
There are currently over 120 Japanese companies operating in Laos.-VNA