Tokyo (VNA) - Vietnam is apotential and emerging market, with low risks, good economy and stable politics,Eto Shinji, General Manager of Japanese building product distributor JUTECCorporation’s Overseas Business Department, has said.

“That's why we decided to go there. That was in 2015,” he noted in an interview grantedto the Vietnam News Agency’s correspondent in Tokyo recently.

According to him, at first, hiscompany tried to sell Japanese building materials in the Vietnamese market. Butunfortunately, the way of building houses in Vietnam is totally different fromJapan’s one, and thus, building materials used in Vietnam are totally differentfrom those used in Japan.

“We had tried to sell our products to those who have special technicalknowledge of Japan, but it was not easy. As a result, we changed our mindset toadapt to the market and then, decided to enter its real estate market becausewe thought that there is a close link between the two markets,” he said.

Despite that fact, Eto Shinji went on to say that his company will return toVietnam’s building material market in the future because the rich in yourcountry is getting bigger and Vietnamese people prefer Japanese products andcompanies.

“We understand that the chance for that business is coming soon, maybe in fiveyears or 10 years. We strongly believe so,” he said.

Regarding JUTEC Corporation’s establishmentof a joint venture with ISN Real Estate Management JSC. (ISN REM), an affiliateof the ISN Corporation, Eto Shinji said his company chose this partner since ISNREM is the only company that is targeting to Japanese people living in Vietnam,and it has a great network of for-rent condominium owners. Additionally, itsmanager, who was educated in Japan, has deep knowledge of Japanese people’staste.

Eto Shinji revealed that on May 25, JUTECCorporation got an investment certificate from the Hanoi Department of Planningand Investment to set up the joint venture. Its registered capital is 20billion VND, of which the Japanese company owns 50 percent.

Its main business is to lease housesand offer Japan-standardized condominium management and operation services toforeign customers, especially Japanese nationals who are currently living andworking in Vietnam.

“Thus, we want to cooperate with Vietnamese tenants who want to rent theirapartments or condominiums to Japanese nationals living in the country, he said.
 
The other business is to distributeJapanese building materials in the market, he said,a dding that the firm now hasone showroom in Ho Chi Minh City.

“For this, we want to provide Japanese-style building materials solutions forhomebuilders in Vietnam so that to increase their houses’ value,” he noted./.