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KPMG: We will open a new office in Myanmar, Asia’s “next economic frontier”

By Quartz Staff


A link from Financial Times

One of the ‘big four’ professional services firms, KPMG announced it would return to Myanmar after shuttering its operation there in the early 2000s as a result of US imposed sanctions. Some analysts are surprised KPMG chose now to re-enter the emerging Southeast Asian country before a new foreign investment law is passed that will lay out what sectors foreigners can enter. Still, KPMG’s move is seen as crucial to Myanmar’s efforts to lure foreign businesses now that most sanctions imposed by Western nations have been lifted. In its press statement, KPMG said Myanmar was Asia’s “next economic frontier” and that it would support clients investing in the country in areas such as financial services, healthcare, hospitality and infrastructure.