After PwC and KPMG recently opened an establishment in Myanmar, Deloitte now also has announced plans to enter the Asian growth market. Deloitte has agreed to cooperate with the local advisory firm Myanmar Vigour, with this advisory firm it will enter the worldwide office network of the Big4 office. Myanmar Vigour will continue under the name ‘Myanmar Vigour Deloitte”.
Myanmar Vigour was founded in 2003 by Soe Win. The firm has since grown to a large local player in the areas of tax, management consulting and financial advisory. Soe Win is pleased with the Deloitte’s partnership: "This is a very exciting time for Myanmar. We are delighted to be working with Deloitte, an advisory firm so committed to delivering world-class professional services".
PwC, KPMG en Ernst & Young
Consultancy.nl reported in November last years that advisory firms PwC and KPMG have already opened offices in Myanmar. Although Ernst & Young still has no office in the booming country, it has unveiled plans to follow suit. It currently has expanded its 'Myanmar desk' in Singapore, which handles Myanmar-related requests, and has short-term plans to open an office in Nay Pyi Taw, Myanmar's capital city.
Decades ago, Myanmar was led by military dictators. In October 2010, back then the military regime decided to change the country’s name from Birma to Myanmar. Because this name change was rejected by some countries, including the United States and accepted by others like United Nations, these names are used interchangeably. In January 2011, the military board of directors was ended, after this the government was democratized. By many different positive reformations that have been put through in the past 1,5 year, the international trade penalties against Myanmar have been attenuated. “Because of attenuation of Myanmar’s trading penalties, this country has strong potential for further growth” according to KPMG. Competitor PwC goes on step beyond that and even calls Myanmar “the next economic frontier” in South-East Asia.