With expansion a prime focus for businesses worldwide, many are looking towards rapidly establishing new regions of growth, particularly in Asia, Pacifi c Rim countries.
The latest business developments from across Asia by Heather Hobbs To appear in our next issue, send your Business and Financial News stories to
heather@intlabmate.com
This section of International Labmate will especially look at the success of both Asian and European companies with established premises or business partnerships, highlighting the opportunities that exist while realising potential for other companies to move into export markets.
Hong Kong Continues to Attract Business Interest
People engaged by the overseas and Mainland companies was 493,000, compared to 443,000 in 2017, an increase of 11.3%. In terms of origin, Mainland China ranked the fi rst with 1,799 companies, followed by Japan (1,413), the US (1,344), the UK (713) and Singapore (446).
Favourable factors for Hong Kong as a location included ‘simple tax system and low tax rate’ (71%), ‘free fl ow of information’ (63%), ‘geographical location’ (61%) and ‘free port status’ (59%).
Senior Statistician of Census and Statistics Department, Ms Alice Mo; Director-General of Investment Promotion, Mr Stephen Phillips; and Head of StartmeupHK of InvestmentHK, Ms Jayne Chan
Results from two government surveys revealed in October 2019, have shown that Hong Kong continues to attract overseas and Mainland investment. In a joint survey conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department (C&SD) the number of business operations in Hong Kong with parent companies overseas and in Mainland China was 9,040 in 2019, cited by the Director-General of Investment Promotion, Mr Stephen Phillips, as representing a 9.9% increase over the 2017 fi gure. The number of start-ups in Hong Kong was found to have risen by 42.8% over the 2017 fi gure in a separate survey conducted by InvestHK.
“Despite global uncertainties, I am confi dent that Hong Kong’s enduring business advantages such as its strategic position in the region as well as its international status as a sophisticated business and fi nancial city will continue to attract world-class investment. The Guangdong-Hong Kong-Macao Greater Bay Area development and the Belt and Road Initiative will also bring new opportunities,” Mr Phillips said.
In addition, the 2019 Annual Startup Survey found that there were 3,184 start-ups operating in major public and private co-work spaces and incubators in Hong Kong, up 42.8% from 2,229 in 2017. These start-ups employed over 1,400 persons, an increase of 97.4% over the 2017 fi gure.
The start-up community was highly international. Of the founders, 34% were from outside Hong Kong, of whom the US had the largest share (15.4%), followed by Mainland China (14.0%), the UK (12.5%), France (7%) and Australia (6.3%). Major sectors of start-ups included “Fintech” (14.3%), ‘E-commerce, supply chain management and logistics technology’ (10.7%), ‘Information, computer and technology’ (10.1%), ‘Design’ (9.5%) and ‘Professional and consultancy services’ (9.0%).
Mr Phillips said that the social unrest in Hong Kong in recent months has had a dampening effect on investment sentiment. InvestHK will devote more efforts to carrying out promotional work, particularly in strategic markets, to deepen investors’ understanding of Hong Kong, rebuild their confi dence and promote the city’s crucial functions in the Guangdong-Hong Kong-Macao Greater Bay Area development and the Belt and Road Initiative.
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Kayentis Opens Japanese Subsidiary to Support Growth of Asia-Pacifi c Clinical Trials Sector
Guillaume Juge
Kayentis, a global provider of eCOA (electronic Clinical Outcome Assessment) solutions for clinical trials, has announced the opening of a subsidiary in Japan, the world’s third largest pharmaceutical market, where clinical developments have been expanding. Based in Tokyo, the subsidiary will enable Kayentis to meet the logistical requirements of multi-national studies taking place in Asia- Pacifi c and cater to the needs of local CROs for digital data collection services with custom geographic capabilities.
Thermo Fisher Scientifi c Opens Customer Solution Centre in China to Support Pharmaceutical and Biopharmaceutical Laboratories
Thermo Fisher Scientifi c Inc have announced the offi cial opening of a Customer Solution Centre in Shanghai, China. This follows the recent announcements of a Biosciences Customer Exploration Centre in Shanghai and the expansion of our clinical trials logistics facility in Suzhou.
The new Pharma and BioPharma Centre will support the rapid delivery of novel and high-quality therapeutics by providing expertise in critical analytical processes and specialised workfl ows.
“The opening of a Pharma and BioPharma Customer Solution Centre in China demonstrates our unwavering commitment to bringing best-in-class analytical technologies to laboratories across the region and supporting quality-by- design through scientifi c collaboration by scientists,” said Tony Acciarito, President of Thermo Fisher Scientifi c in China.
“The new Centre reinforces our mission of enabling our customers to make the world healthier, cleaner and safer by helping laboratories in China nurture innovation and bring effective medicines to waiting patients.”
Zhong Feng, Director, Shandong New Time Pharmaceutical Co, Ltd, said, “Thermo Fisher’s new Customer Solution Centre in Shanghai is a hub of collaboration that will enable scientists across China to build new analytical workfl ows, enhance knowledge across our thriving pharmaceutical and biopharmaceutical sector, and help build capability and expertise in the region.”
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Kayentis, which specialises in eCOA solutions for phases IIB/ III, has been collaborating with local CRO partners in Japan since 2017. As many as 75% of the clinical trial studies conducted by Kayentis include populations from Asia-Pacifi c.
“The Japanese and the wider Asia-Pacifi c clinical trials market is important to us. Kayentis already has customers in the region. We are thrilled to be opening a subsidiary in Tokyo, where we will be able to offer closer support to our customers running trials in Asia,” said Guillaume Juge, CEO of Kayentis. “This expansion comes amid the release of our eCOA solution - Clin’form3 - available in Japanese. It brings new design improvements that save time during the set-up stages of the study. We anticipate that the easier integration of medical device data and reporting enhancements will be of great benefi t to clients in this strategic market.”
The Japanese eCOA sector is growing. Industry Research forecasts that the global ePRO, E-Patient Diaries and eCOA market is expected to grow at an exponential CAGR of 15.3%, rising to a value of just under $958 Million (€861.8 Million) in 2017 to reach approximately $2,986M (€2,686 Million) in 2025.
Richard Triepel, Business Development Director for Asia- Pacifi c at Kayentis, who has lived and worked in Japan for 14 years, will lead activities at the Tokyo-based subsidiary when it becomes operational in January 2020.
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Business
Opportunities Asia
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