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Business Matching Event Held to Connect Social Issues in Pacific Island Countries with Solutions Provided by Japanese Startups and Other Companies

October 31, 2024

On Tuesday, October 29, 2024, the Ministry of Economy, Trade and Industry (METI) held a business matching event at the Pacific Islands Forum (PIF) Secretariat located in Fiji. As part of the Global South Future-Oriented Co-Creation Project (Promoting Business Development to Solve Social Issues in Pacific Island Countries) under the FY2023 supplementary budget, the event was held to connect social issues in Pacific island countries with solutions provided by Japanese startups and other companies.

Starting with a business event held in Tokyo in July 2023 to arouse interest of island countries, METI has been providing seamless support to Japanese companies in developing business in island countries, including adopting a public call for 12 Japanese companies intending to expand into island countries,* dispatching 12 Japanese companies on a mission to island countries in February 2024, and holding the PALM 10 Economic Forum in July 2024.

The purpose of the business matching event was to showcase the flagship projects, which have been cultivated through the accumulated efforts above, and to horizontally expand them to Fiji and other island countries. The event brought together around 80 people, including the Ambassador of Japan to Fiji and officials from the economic ministries and investment promotion agencies in the PIF member countries. Presentations were held by representatives of Fiji, Palau, Papua New Guinea, and Samoa—island countries to which the 12 Japanese companies selected by METI targeting for at expanding their business— about social issues that they face, and pitch presentations were also held by the 12 companies about their solutions.

6 of the 12 companies concluded MOUs or a purchase contract for business development, and a ceremony was held to introduce them. This is METI’s first effort to support business development in the Pacific Islands region. Going forward, making use of the subsidy for the Global South Future-Oriented Co-Creation Project, METI will strive to further enhance economic ties with this region, which is geopolitically important to Japan, and make progress toward the realization of a Free and Open Indo-Pacific.

Specifically, the event was covered by the local media in Fiji, and the high expectations for Japanese companies and their technologies in Fiji and other island countries were reaffirmed.

*ArkEdge Space Inc., Akabira Orchid Corp., Wesco Inc., Umitron K. K., Kanadevia Corporation, Kawasaki Heavy Industries, Ltd., Saka no Tochu Co., Ltd., SORA Technology Co., Ltd., Challenergy Inc., Nippon Basic Co., Ltd., Fuso Corporation, and FrostiX Co., Ltd. (in the order of the Japanese syllabary)
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Participants

Japanese side:

Mr. MICHII Rokuichiro, Ambassador Extraordinary and Plenipotentiary, Embassy of Japan in Fiji; Mr. KOMIYAMA Yasuji, Director-General for Trade Policy and Economic Cooperation, METI; Mr. SAITO Ryuzo, Director, Pacific Islands Centre; and representatives of the Japan External Trade Organization (JETRO), the 12 selected Japanese companies, other Japanese companies developing business in islands countries, and Japanese companies that have not applied to the public call this time

Islands countries side:

Mr. Clarence Hoot, Managing Director, Investment Promotion Authority (IPA), Papua New Guinea; and representatives of the PIF Secretariat, Investment Fiji, the Foreign Investment Board (FIB), Palau; and the Ministry of Commerce, Industry and Labour (MCIL), Samoa

Divisions in Charge