GBS sets its footprint in Myanmar

Good corporate governance and infrastructure development are key to Myanmar’s continued economic development, according to GBS’s Managing Partner, Ms. Sophie Dao. GBS, the legal and business professional service firms to enter Myanmar by partnership with a local firm, Lincoln Legal Services (Myanmar) Ltd.

“Myanmar is poised for rapid economic growth. It is also making excellent progress towards creating the right environment for the investments required to achieve its economic potential,” Duong Ngoc Dung said. “Many of the CEOs that I talk to in Asia and beyond are considering investing in Myanmar. Before they commit they want some basics; namely a good and clear corporate governance structure and to know that the rule of law and contracts will be respected.”

Myanmar will likely go through the many phases of growth, initially of low cost manufacturing, then consumer industries, banking, energy and technology at a faster pace than previously industrializing economies. Each phase of this growth will require policy setting and infrastructure which is adaptable.

While in the recent past China has been the largest investor in Myanmar, GBS is seeing increasing interest from a diverse range of sources, particularly Vietnamese and ASEAN countries.

“Potential investors are also telling us that they see continued infrastructure development as being key to the successful and continued growth of Myanmar. Without transport connectivity, power and water supply business simply can’t operate,” Sophie added.

Global Business Services (GBS) Co., Ltd is one of the leading consulting firms, helping clients achieve their goals by combining the highest global standards with local expertise.The firm has unrivaled scale and depth of legal resources across the three key markets of the Vietnam, Asia and Europe.

GBS’s Myanmar office (with Lincoln Legal Services Ltd.) provides a wide range of legal, investment consulting, tax and advisory services. The Myanmar team includes experienced Myanmar nationals and expatriates and it is enhanced by the technical and industry knowledge of GBS’s global network.

If you are interested in setting up a company and doing business in Myanmar, email us at myanmar@gbs.com.vn and we can discuss your goals during a consultation.