The paper said that after years of a headlong rush into China to capitalize on the country's sparkling economic growth, Japanese companies are now shifting their investments in Asia towards India. In fact, there are actually many good reasons for Japanese companies to pour money into these two countries thanks to their vast and growing markets with billions of consumers. With their attention focused on the two Asian giants, however, Japanese companies could miss out on great business opportunities offered by a much smaller, but no less dynamic economy: Vietnam. The country's rich pool of hardworking people, many with good accounting knowledge, provides high-quality labor for foreign investors. Vietnam's economy keeps barreling along at a heady pace, growing by 8.4 percent in 2005.

The newspaper also added that as Japanese companies have become aware of Vietnam's economic potential, they have begun to invest in the country. In the second half of 2006 alone, Honda Motor Co. expanded its motorcycle production capacity in the country by 30 percent, while its new car manufacturing plant came online. The Vietnam investment boom is not limited to Japanese companies or the manufacturing sector. Intel Corp. of the United States is building a semiconductor plant in the country.

This situation makes Vietnam very attractive for Japanese manufacturers. By building factories in this still underdeveloped country and hiring Vietnamese engineers, Japanese makers can tap its competent but low-cost workforce for their competitive advantage, the paper noted.