TOKYO & VIENTIANE, Laos -- (BUSINESS WIRE) --

President and CEO Yoshiaki Ito of Haier Asia Co., Ltd. of Tokyo, Japan, Minister Boviengkham Vongdara of the Ministry of Science and Technology (MOST) of the Lao People's Democratic Republic (Laos) and CEO and President Alivan Sithara of AMZ Group Co., Ltd. of Vientiane, Laos concluded today a Memorandum of Understanding (MOU) concerning a broad and comprehensive alliance in the areas of education and science and technology.

With the heritage acquired through Sanyo Electric, Haier Asia has been contributing to the growth of Southeast Asia for a half-century with its quality products ranging from refrigerators and washing machines to personal computers. AMZ Group, a conglomerate and advisory firm for foreign investment into Laos, has been engaged in increasing business opportunities for Laos since its establishment in 2006. The pact knits together Haier Asia and AMZ group’s innate commitment to building the future of Asia and Laos with MOST’s strong intention in driving further growth of Laos. The parties agreed to jointly develop devices such as electronic dictionaries, personal computers and tablets that support the Laotian language. Also in the plans is development of electric bicycles (e-bikes), which leverages the stable supply of electricity in Laos, in order to further accelerate Laotian growth. The first of the jointly developed products such as electronic dictionaries is scheduled to be delivered in 2015, for use in Laotian schools and other educational facilities.

MOST Minister Vongdara made the following comment on this cooperation with Haier Asia: “To accelerate our economy, we think there are 2 keys. One is further development of the education system. The other is our stable electric power supplies and related industries to attract foreign investment in Laos for future growth. We are very happy to be able to work with Haier Asia, one of the top firms committed to the growth of Asia, including Laos and the Laotian enterprise AMZ Group. By jointly developing and providing products, we believe such activities will bring a bright future for our country.”

AMZ Group Alivan Sithara remarked on this partnership: “Since the start of our company, we‘ve been partnering with foreign enterprises to bolster Laos’s future possibilities. I am honored that we are able to expand our reach into the education, science and technology areas with this collaboration with Haier Asia and MOST, with the aim of broadening the future potential of Laos.”

Haier Asia President and CEO Yoshiaki Ito said as follows: “I was born and raised in Thailand, so I am very familiar with the language and the rich culture of Laos. Haier Asia has always been contributing to the growth of Asia, and it is with great honor to have this opportunity for us to do the same for Laos via this project. I believe the jointly developed products will be able to bring a new page to the Laotian education, science and technology fields, enriching the lives of Laos citizens, bringing spectacular future results.”

ABOUT HAIER GROUP

Haier is a global leader in innovative smart living solutions. Its mission is to create home appliances that anticipate the fast-changing needs of consumers in more than 100 countries around the globe. With global revenues of US$29.5 billion and a profit of US$1.76 billion in 2013, Haier is the world's largest home appliance provider by market share. Euromonitor International, the most respected provider of strategy research for consumer markets, has named Haier the number one major home appliances brand globally in terms of market share every year for the last five years. In 2012 the Boston Consulting Group named Haier as one of the ten most innovative companies in the world.

Haier Electronics Group Co., Ltd. a subsidiary of Haier Group, is listed on the Hong Kong Stock Exchange (HKG: 1169). Qingdao Haier Co., also a subsidiary of Haier Group, is listed on the Shanghai Stock Exchange (SHA: 600690).

CONTACT:

Haier Asia Co., Ltd.
Setsuko Yonejima, +81-3-3284-3577
PR Manager