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Asian companies could create thousands of jobs

More than 120 Asian firms could set up regional headquarters in Switzerland in the next ten to 15 years.

A study published on Tuesday said Asian companies could increase the country's gross domestic product by two to four per cent.

The firms could add 55,000-120,000 jobs, said the report, published by management consultants McKinsey & Company, trade development organisation Business Network Switzerland and the Swiss-American Chamber of Commerce.

But competition is tough in Europe and Switzerland will need to create awareness among Asian business leaders, the study said.

More than 180 Western firms have established themselves in Switzerland over the past ten years.