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Baker & McKenzie to Assist Companies Achieve their Objectives in Myanmar

The Celebration of Baker & McKenzie’s Formal Opening coincides with US-ASEAN Business Council Mission to Myanmar Asia Pacific, 1 August 2014 – Baker & McKen- zie remains upbeat about Myanmar’s growth prospects as the From joins business lead- ers to discuss opportunities and challenges in doing business in Myanmar. The firm, as part of the US-ASEAN Business Council Mission, is also in discussion with Myanmar government officials about the country’s pri- orities and its plans for legal reform. Myanmar is well placed to benefit from Asia’s dynamic growth and continues to be a country of growing interest to many foreign companies. The ASEAN Economic Commu- nity is fast approaching, and Myanmar is continuing to deepen its economic ties with neighboring countries.

On Thursday evening, 31 July, Baker & McK- enzie brought together lawyers from across its Asia Pacific offices with more than 100 business executives from leading multina- tional and Myanmar corporations, diplomat- ic and trade representatives and Myanmar officials at a reception to formally celebrate the opening of Baker & McKenzie’s Yangon office. Invitees discussed the practical steps they were taking to grasp the investment and business opportunities in Myanmar, as well as sharing insights on the changing regulato- ry environment.

“We’ve learnt so much in the relatively short time since we opened in Myanmar. It’s been fantastic to engage with our clients and the broader business and professional commu- nity to discuss some of the successes we’ve had and common issues we’ve faced,” said Chris Hughes, Managing Partner of Baker & McKenzie’s Yangon office. “The broad-based nature of the work we’re doing – across the finance, power, oil and gas, telecommunica- tions and consumer goods sectors, on issues such as foreign investment and corporate setup, projects and transactions, and specialized advisory service relating to intel- lectual property, banking and finance, tax and trade – all indicates that the investment climate continues to be sustainable and pos- itive for Myanmar’s development. We are certainly trying to play our part.”

As part of the US-ASEAN Business Coun- cil Mission to Myanmar, representatives from Baker & McKenzie – Kien Keong Wong, Chairman of Baker & McKenzie’s member Firms in Singapore, Indonesia and Malay- sia, and Chris Freeland, Managing Partner of Baker & McKenzie in Sydney, Melbourne and Brisbane – joined other senior business leaders to meet with Myanmar’s key leaders in the capital Nay Pyi Taw, including Presi- dent U Thein Sein and other senior officials. They also met Aung San Suu Kyi, the Oppo- sition leader.

Commenting on the work of the delegation, Kien Keong Wong, said, “The meeting has benefited us with greater insight and un- derstanding of the current administration’s policy goals and priorities. As Myanmar continues its transition to a more open and transparent economy, we remain supportive and committed to our clients through invest- ing in and training local talent to provide high-quality and reliable service. We will continue to assist our clients in making re- sponsible investments in the country, help- ing them to put in place effective strategies and measures that meet legal requirements, their companies’ goals and CSR objectives, to help Myanmar on its road to sustainable economic development and employment cre- ation. We will also endeavor to bring global best practices to Myanmar to benefit its pro- fessional services sector directly.”