JASTECA members to benefit from HIDA Regional Office in New Delhi
Friday, 8 November 2013 00:00
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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 is extensively involved in promoting Japanese business interests globally, took the initiative recently to launch a new Regional-Hub Office in New Delhi, India mainly with the objective of fostering business partnerships with Japanese investors and HIDA’s Alumni Network in South Asia.
At the opening ceremony HIDA Japan President Kazuo Kaneko, explaining the objectives behind the launch of the Regional Office, emphasised the enthusiasm and positive attitudes Japanese companies are harbouring about South Asia.
“Abenomics”
Professor Tsuneo Yahagi (Ph.D. Keio University and Stamford University), who elaborated on the topic ‘‘Japanese Investment and Management Today and Tomorrow’’, also explained the new opportunities and the growth strategy that would stimulate the economy of Japan.
He further emphasised the radical economic revival policies of the Japanese Premier Shinzo Abe and his philosophy popularly known as “Abenomics”.
HIDA Japan is an organisation that is committed to uplifting the standards of human resources in developing countries by fostering technical cooperation through providing training has a widespread alumni network in the Asian region; and it plans to leverage this strength to the fullest to achieve its objectives when promoting Japanese business interests.
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 who have been trained by HIDA Japan.
Japanese expertise
During its three-decades long history, JASTECA in association with HIDA has trained a multitude of over 3500 entrepreneurs, CEOs, managers and top executives attached to both public and private sector companies in Sri Lanka in various disciplines relating to business; importantly acting as a catalyst when transferring Japanese expertise to local industries
The initiative by HIDA is expected to open up lucrative business opportunities since Japanese investors and commercial enterprises will be prospecting 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 matchmaking, especially though HIDA’s Alumni Offices in South Asian countries such as JASTECA and will also open up more opportunities for training and development for entrepreneurs, business managers and engineers etc., for members of its alumni societies.
In an effort to achieve its goals in furthering the business interests of Japan, especially in catering to the increasing demand among Japanese companies which are eagerly looking for investment in South Asian countries, the HIDA Research Institute (HRI) has launched a new business development initiative titled the ‘Japan Business Platform’’.
Management localisation
HRI’s objective is to use its expertise to help companies/HIDA Alumni Members to encounter various challenges such as locating Japanese business partners, mitigating cultural differences and language barriers, gathering information, employing and training personnel and localising management.
HRI’s efforts and the launch of the new regional office will benefit HIDA’s Alumni societies such as JASTECA and its members immensely since it will enable Japanese investors to identify potential business partners/opportunities.
Several technically advanced Japanese SMEs, which use the latest technology and machinery, find it challenging presently to conduct business operations in Japan due to extremely high labour costs.
These SMEs, whilst supplying to large-scale Japanese manufacturers, also cater to other industrialised countries where Japanese companies are operating 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 and eagerly awaiting to venture into South Asia to cater to the fast growing demand in the automobile industry in India, Thailand and Malaysia.
Potential
The Indo-Lanka FTA is an ideal launching pad for companies planning to penetrate into the massive Indian market and some Japanese companies are already exited about these prospects.
JASTECA has resolved to work closely with HIDA in matching Japanese investors with suitable Sri Lankan partners in the near future. The JASTECA / HIDA collaboration is expected to 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. JASTECA, which plays a vital role in this initiative, was well represented at the opening ceremony held in New Delhi where a cross-section of potential Japanese businessmen was also present.
