 With a changing sanctions regime, better infrastructure and strong reserves in oil, gas and timber, interest from foreign investors in Myanmar has grown substantially over the course of the last few years. Baker & McKenzie is the latest firm to launch a presence in Yangon, to leverage the increasing needs of clients in the former pariah state. “Clients are particularly looking to Myanmar and Southeast Asia for growth opportunities, particularly as the ASEAN nations work collaboratively towards achieving the ASEAN Economic Community by 2015” according to Eduardo Leite, Baker & McKenzie’s Chairman of the Executive Committee. The Yangon office has been set up with the aim of assisting companies with a particular focus in energy, mining and infrastructure, IT, telecommunications as well as corporate transactions and IP. Chris Hughes, formerly the firm’s Sydney based partner now heads the new outpost and commented on the “challenging nature of new frontier, high-growth markets.” Baker & McKenzie joins Singapore’s Selvam & Partners, an associate firm of Duane Morris, Colin Ng Partners who recently formed an association with Fame Myanmar Co Ltd and New York based firm Herzfeld & Rubin amongst others who set up offices in the emerging market last year. |
More firms eye Myanmar as client demand in the frontier market grows
