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Spire expands global footprint with inaugural venture into the MENA region

Spire Research and Consulting, leading provider of business research and consulting, and a group company of the TSE Listed Yamada Consulting Group, has expanded its global footprint to the markets in Middle East and North Africa (MENA). The company has entered into a joint venture (JV) with United Arab Emirates (UAE) headquartered ZASK Associates, a leading provider of business and strategy consulting to companies in the MENA region.

The new company, known as Spire Research & Consulting MENA LLC, is a JV of Spire Research and Consulting Pte Ltd, the parent company of the Spire group located in Singapore, and ZASK Associates, a company incorporated in the UAE and comprising owners and directors with extensive experience of the MENA region. The company is registered with the SHAMS Free Zone and has a business office in The One Tower Building, Barsha Heights, in Dubai.
The Middle East and North Africa region includes 20 countries and contains some 6 percent of the world's population, 578 million people, similar in population size to ASEAN.
The MENA region's gross domestic product (GDP) is approximately US$3.6 trillion and represents 4.3% of the global GDP.
It has 60% of the world's oil reserves and 45% of the world's natural gas reserves.
While oil and gas remains the top industry in the MENA region, other leading industries there include banking, education, real estate, financial services and healthcare.

On the occasion of the launch of the JV, Leon Perera, Founder and Global CEO of the Spire Research and Consulting group, said, "My team and I are excited to be involved with the dynamic business environment in the MENA region. We strongly believe that there is incredible potential in the region, as governments and private players look to diversify their economies and businesses away from natural resources."

Leon added, "At Spire, our core philosophy has always been to be a partner that contributes actionable knowledge to our client's decision-making process. We are confident that we will be able to work with clients in the MENA region to help them take better business decisions and create value for their shareholders."

Leon further observed, "We find an increasing interest by our clients across the globe in the MENA markets. We are confident that, through this JV, we shall be able to contribute towards the economic transformation of the region in a meaningful manner."

Adnan Kaddoura, Chairman of ZASK Associates, said, "Spire is an exceptionally strong player with a strong expertise and commitment towards supporting growth and innovation in emerging economies. We are indeed happy that they are our partners. We look forward to supporting both the public as well as private sector in the region with the expertise that Spire and its parent company, Yamada Consulting Group, bring to the region."

Ryosuke Funayama, Director, Yamada Consulting Group and in charge of YCG's International Operations, said, "The formation of Spire MENA is an exciting development for us at YCG as it will showcase our commitment to the MENA region and allow us to better support the growth aspirations of our Japanese and global clientele. Our clients are actively looking at investment opportunities and the MENA region is one of the regions that has their interest."

He further observed, "Japan's government and financial institutions have a proven long-term interest in furthering business in the MENA region, and Spire MENA will enhance our ability to address the opportunities arising out of these initiatives. We look forward to SPIRE MENA building a presence in the region across multiple locations to achieve this objective."

Tarek El Housseiny, a career banker, has been appointed the CEO of Spire Research & Consulting MENA LLC. Tarek has previously worked with Visa International and American Express, having held leadership positions in the region.

On the occasion of the launch, Tarek said, "The MENA region is an exciting geography to work in. It is home to some of the most progressive, committed and dynamic economic transitions in the world. These will be of immense value to the global business community as it seeks to emerge from the current economic situation. At Spire MENA, we look forward to actively participating in, facilitating and contributing towards this change."

Tarek further elaborated, "We understand that the MENA region is a varied group of markets. Spire MENA will progressively establish companies across key regional markets in order to be closer to our clients and serve them better."

Aditya Sapru, Board Member of Spire MENA, said, "Spire MENA is a confluence of a strong brand and even stronger networks of Yamada Consulting Group, Spire and ZASK. Both the board and management team of the JV has proven leadership capability in the region. I am confident that this team will make a difference to our clients as they look to creating and capturing value in the post pandemic era."

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DLF Phase I, Sector 28,
Gurgaon, Haryana – 122002 India

Spire Research and Consulting was established in 2000 to address a gap in the research and consulting industry in global emerging markets. Unlike most agencies that focus on traditional consumer research, our founders saw a profound need for holistic research projects.

These projects integrate traditional customer research with knowledge of the broader business eco-system; for instance, competitors, channels, legal and regulatory factors. They support strategic decision-making for market growth and entry. Our studies provide indispensable tools for creating business plans, setting sales quotas, quantifying budgets and investment as well as making product launch decisions.

Spire exists to undertake such projects with distinction.

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