GlaxoSmithKline Makes First FDI

BMI View: The Middle East has a long collective memory and GlaxoSmithKline (GSK)'s early-mover advantage in Iraq will help protect the UK company's interests by generating public and political goodwill. Furthermore, offshoring manufacturing to low-cost bases will maximise profits and although Iraq is still a high risk-high reward market, it has extensive human resources in its middle classes that GSK can look to employ.

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