KPMG opens office in Myanmar
KPMG in Thailand has expanded to Myanmar, becoming the first of the Big Four professional services organisations to have a presence in the country, which is widely seen to be the "next economic frontier" in Asia.
Among the big four, Pricewater-houseCoopers also plans to open an office in the country by the end of this year. The office will be under the supervision of PwC’s office in Singapore. The recent easing of many international sanctions against Myanmar has sparked a great deal of interest from investors globally.
“With the easing of trade sanctions, Myanmar has the potential |for tremendous growth, and many multinationals and other in-|vestors are already entering the market or exploring opportuni-|ties,” said Michael Andrew, chairman of KPMG International.
“In addition to the in-depth |local knowledge and capabi-|lities of the new office, KPMG can support clients investing in Myanmar with extensive global resources, including specialised practices in areas such as financial services, healthcare, hospitality |and infrastructure. We look for-ward to contributing to Myanmar’s economic resurgence and to help-|ing clients succeed in what |should be a rapidly expanding |economy.”
Tax and advisory services will initially be offered in the Myanmar office, with plans for audit services to follow. The office will be able to draw on the full capabilities of KPMG in Thailand and its more than 1,200 professionals, with additional support from KPMG firms in Japan and Singapore.
Kaisri Nuengsigkapian, chief executive officer of KPMG in Thailand, has led the initiative to extend operations to Myanmar and said she was enthusiastic about the potential.
“Myanmar is the second-largest country in Southeast Asia, and literally at the centre of opportunity in the region,” she said. “Investors are flocking to the country and are excited about the possibilities they are finding. KPMG in Thailand is proud of the leadership role we are taking to support them.”
