Mr Yasuji Komiyama, Director - General for Trade Policy and Economic Cooperation, Japan Ministry of Economy, Trade and Industry
Delivered at the Forum Island Countries & Japan Regional Investment Seminar.
28 October 2024, Suva, Fiji.
BULA! Hello everyone. My name is Yasuji Komiyama, Director-General for Trade Policy and Economic Cooperation, Ministry of Economy, Trade and Industry, Japan. It is a great pleasure to meet you all today at this event.
First of all, I would like to take this opportunity to express my sincere gratitude to the representatives of Pacific Island countries and region. It is a great honor to be here to deepen our relationship between Japan and Pacific Island countries to build our future together through this precious opportunity.
Pacific Island countries and region have rich natural resources, diverse cultures, and tremendous potential for economic growth. Japanese trading houses, construction companies, and other companies have been doing business in the field of large-scale infrastructure, such as an airport and energy, and have contributed to improving the quality of life in your countries and region.
On the other hand, there are growing number of start-ups with cutting-edge technologies that serve solutions for social issues in Japan. We believe that these technologies can be used to solve social issues in your countries and region as well. With this in mind, we have been encouraging Japanese companies to develop their businesses in this region.
In particular, since last year, we have been supporting Japanese stat-ups to develop business in the region, starting with a business event in Tokyo in July last year, followed by a business mission in February this year to Fiji, Palau, Papua New Guinea, and Samoa, and PALM 10 Economic Forum in July. Tomorrow, we are going to hold the pitch event for the further economic cooperation.
In addition, we have budgeted US$1 billion for projects in the Global South region, including Pacific Island countries and region to create flagship projects. In fact, we adopted and have been supporting Kawasaki Heavy Industries and Soramitsu to create projects in this region. Kawasaki Heavy Industry has been implementing the research project to introduce new technology to stabilize the electric power system in Palau. Soramitsu has been working on a project of digital currency in Palau and Papua New Guinea.
This time, 12 companies from Japan accompany us. They have been cultivating the business in Pacific Island countries and region. I hope this seminar will be the opportunity for them to build more networks with each of you in order to create new businesses and to help to solve social issues in the region. By making this kind of business collaboration one by one, we believe we can further strengthen the economic relationship and trust between us, thus building the strong foundation of Free and Open Indo-Pacific.
Finally, I sincerely wish you success and further development of Pacific Island countries and region. Thank you very much for your time today. Vinaka vakalevu.
[ENDS]
