KPMG’s Thai operation has expanded with an office in Myanmar, making it the first of the Big Four to have a presence in the country.
Myanmar, also known as Burma, is considered to be Asia’s emerging economic frontier, as recent easing of international sanctions against the country has provoked interest from international investors.
Michael Andrew, chairman of KPMG international, commented that with the easing of trade sanctions, Myanmar has the potential for "tremendous growth".
He added "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."
KPMG’s Myanmar office will initially offer Tax and Advisory services, with plans for Audit services to come later, and will be able to draw on the full capabilities of KPMG in Thailand and its more than 1200 professionals.
KPMG Thailand chief executive Kaisri Nuengsigkapian, predominantly in charge of extending the firm to Myanmar, said given Myanmar’s size, "Investors are flocking to the country and are excited about the possibilities they are finding."
Nuengsigkapian continued "KPMG in Thailand is proud of the leadership role we are taking to support them."
KPMG’s presence in Myanmar is the first Big Four involvement in the nation since PwC left the country in 2003.