PURPOSE: To produce the subject compound in high yield and efficiency under relatively mild reactional condition by reacting an aromatic bromide having a substituent with an alcohol and carbon monoxide in the presence of a palladium catalyst and an amine compound under a pressure lower than a specific level.

CONSTITUTION: The subject compound useful as an intermediate for pharmaceuticals, agricultural chemicals, dyes and pigments can easily be produced in high yield and efficiency under mild reactional condition (especially at normal temperature to 150°C under 0.1-5 kg/cm2 pressure) by reacting an aromatic bromide having substituent (especially an electro-donative group such as hydroxyl group, alkoxyl group and carboxyl group) with an alcohol and carbon monoxide in the presence of a palladium catalyst (e.g. palladium metal, salt or oxide of palladium or complex of palladium salt, etc.) and an amine compound (e.g. alkylamine, pyridine, dimethylaniline, tetramethylurea, etc., especially tert. amine). The process is suitable for industrial use because it causes little formation of by-product.