The recent easing of many international sanctions against Myanmar, also known as Burma, 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 investors are already entering the market or exploring opportunities," said Michael Andrew, Chairman, KPMG International. "In addition to the in-depth local knowledge and capabilities of the new office, KPMG can support clients investing in Myanmar with extensive global resources, including specialized practices in areas such as Financial Services, Healthcare, Hospitality and Infrastructure. We look forward to contributing to Myanmar's economic resurgence and to helping 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 Myanmar office will be able to draw on the full capabilities of KPMG in Thailand and its more than 1200 professionals, with additional support from KPMG firms in Japan and Singapore.
Kaisri Nuengsigkapian, CEO of KPMG in Thailand has led the initiative to extend operations to Myanmar and is enthusiastic about the potential. "Myanmar is the second largest country in Southeast Asia, and literally at the center of opportunity in the region. 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."