Japanese firms have renewed their focus on Southeast Asian countries as investment destinations as they increasingly seek to disperse their operations from China amid the Senkakus territorial dispute.
China has long been one of the key overseas investment hubs for Japanese firms, which have enjoyed plenty of business opportunities since starting to eagerly invest in the country in the early 1990s. But Southeast Asia is becoming comparatively more attractive in light of the rising costs and difficulties of doing business in China, analysts say.
Around 100 companies last week participated in an event to encourage Japanese companies to invest in Singapore and other members of the Association of Southeast Asian Nations, jointly organized by major Japanese office rental agency Crosscoop Singapore Pte. and the Singapore Business Federation. Around 200 people also joined in a similar seminar held last week organized by the federation and the Japanese Chamber of Commerce and Industry in Singapore.