The new office has been established as a branch of its Asian headquarters, Eisai Asia Regional Services Pte. Ltd., in Singapore and signals the company’s increasing presence in a region still enjoying enviable rates of growth.
Established in 1941, Tokyo-based Eisai is a human healthcare company (hhc), seeking innovative solutions in disease prevention, cure and care for the health and well-being of people worldwide. The company currently has six active markets in the Middle East: Jordan; Sudan; Yemen; the United Arab Emirates (UAE); Kuwait and Saudi Arabia. Eisai’s move to Bahrain is the culmination of a lengthy search for an operational base in the region, where the International Monetary Fund (IMF) forecasts growth of 4.2% in 2010, rising to 4.8% by 2014. Bahrain is strategically located at the heart of this growing market, supported by the 25km causeway to Saudi Arabia and the forthcoming causeway linking the Kingdom and Qatar.
The decision follows positive consultation with the Bahrain Economic Development Board (EDB), which has the overall responsibility for formulating and overseeing the economic strategy of the Kingdom and creating the right climate to attract foreign investment. Its facilitation service supports international companies in their assessment of market opportunities, setting-up and aftercare – including assistance in forming a network of contacts in the Kingdom and beyond.
Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the EDB, said:
“We warmly welcome Eisai to Bahrain. The six nations of the Gulf Cooperation Council (GCC) are on the verge of becoming a one trillion dollar market and accessing it from a single location has never been easier or more profitable. We’re delighted that Eisai has followed other leading international businesses to take advantage of the region’s enviable levels of growth by establishing a regional base in the Kingdom – an ideal location for international companies to do business in and from.”
The EDB’s efforts are central to Bahrain’s Vision 2030 and National Economic Strategy, designed to encourage the private sector to drive growth, support further diversification of the economy – already recognised as the most diversified in the Gulf – and ultimately elevate national living standards by creating greater opportunities for Bahrainis