Nov 7, 2012

PwC opens office in Myanmar

PwC announced today the official opening of its office in Myanmar, bringing the reach of its network in Southeast Asia to 9 countries in the region.

Among the "Big Four", it is the second after KPMG to return to the country.

"PwC's return to Yangon is our vote of confidence in the reforms that we have witnessed in the past year, and our commitment to the people of Myanmar," said PwC Singapore Executive Chairman Designate Yeoh Oon Jin. "Myanmar has great potential for sustained growth due to its unique location between China, India and Southeast Asia, its population of 65 million, a young and educated workforce, and its abundant land and natural resources. Since the opening up of its economy at the beginning of this year, we have seen growing interest from both Asian and Western corporations, and we expect an increasing stream of foreign direct investments in the years to come."

PwC Myanmar will provide assurance, tax, and advisory services to support large local businesses seeking growth and foreign corporations' investments into Myanmar. Its initial focus will however be on market entry, mergers and acquisitions, infrastructure and transformation of local businesses.

PwC Myanmar Managing Director for Assurance and Advisory Services Ong Chao Choon said that the team would be small initially, led by Jasmine Thazin Aung and Jessica Ei Ei San, both of whom are returning Myanmar citizens who have worked in PwC Singapore.

PwC Singapore will provide technical support to PwC Myanmar in the initial years, and we will also tap into the expertise across PwC's global network.

"As the leading professional services network in the world, PwC is committed to developing local talents, delivering consistent quality service to clients and contributing to the local economy and profession. We hope to play a part in Myanmar's reform and growth story, and it is a privilege for PwC to be part of this new chapter," added Ong.

Source: The Nation