Tag: myanmar
Written by John on 13 November 2015.
♦ Breaking BigLaw News, Moves News ♦ Myanmar, Yangon
International law firm Berwin Leighton Paisner (BLP) has today (12 November 2015) announced its intention to open its first office in Myanmar and the appointment of Partner Chris Hughes, former Managing Partner in Baker & McKenzie’s Yangon office, to lead this expansion. Once established, this will be the Firm’s 14th office in its 12th country and further strengthens and extends its presence in Asia where it currently has offices in China, Hong Kong and Singapore. Over the last few years, the Firm has made strong inroads into Myanmar and in 2013 advised Fosroc on what was seen as the first UK investment into the country since the enactment of the new Foreign Investment Law. The opening of an office in Myanmar, the largest country in mainland South East Asia and one of the fastest growing markets, means BLP will capitalise on the improving investment climate in the region, as evidenced by the country’s first democratic elections in 25 years having just taken place. It also reflects the Firm’s constant commitment to its clients’ needs, ensuring that it has a physical presence in such a rapidly developing economy. According to the Asian Development Bank, Myanmar is targeting a 2016 GDP growth of 8.2 per cent, driven by foreign investment and rapid expansion in its telecoms sector[1]. With its wealth of natural resources and strategic location between India and China, foreign investment is increasingly focused on the country’s energy, transportation, tourism and telecommunications industries[2] presenting BLP with the opportunity to advise investors from abroad. Chris Hughes is a highly respected Australian and UK qualified emerging markets transactional lawyer. He has a broad corporate background with vast experience in M&A activity, finance deals and projects work. His work has spanned sectors including energy and infrastructure, power, telecommunications, consumer goods and government. Chris is also the lead draftsman on the Asian Development Bank sponsored Myanmar Company Law reform process, which will be shortly submitted to Parliament, giving BLP a leading edge in corporate advice to local and international businesses. Chris will be focused on developing a talented team of both Myanmar and international legal staff to help clients succeed in the country. Bob Charlton, Head of Asia, BLP, said: “With further political stability and clients demanding more insightful expertise across South East Asia, this is the perfect time for BLP to expand its presence in the region. Myanmar is one of the most emerging of the South East Asian economies and Chris’ appointment provides real local knowledge which will be of huge benefit to our clients. “The legal market is in growth mode in Myanmar and this provides great opportunities for BLP in a country which is now opening up to increased international investment into infrastructure, real estate, telecommunications and transport to name a few. By opening here, we will be able to provide world class legal services, helping the development and transition of Myanmar. Feedback from our existing clients in Myanmar, as well as prospective clients across the wider region, shows it is the right time to have a physical presence in the country and highlights how we as a Firm are flexible and nimble enough to respond to our clients’ needs.” Commenting on his appointment, Chris added: ”Having worked in Myanmar for a couple of years now, I understand the challenges and opportunities associated with businesses entering into frontier markets. Many companies from Europe and North America are now ensuring that investment into South East Asia, and particularly Myanmar, is a big part of any growth strategy and we will be perfectly positioned to advise them with our local knowledge alongside our already strong Asian footprint. As one of the first international law firms to operate in Myanmar, BLP has a rich history of working in the South East Asia region and the opportunity to build a local presence to serve a truly international client base really attracted me to the Firm.” In March 2014, BLP was one of the first firms to make an entry into Myanmar with the announcement that a local law firm, Legal Network Consultants (LNC) had become the Myanmar member of its Asia Network. This helped the firm to truly understand the market in Myanmar before the right opportunity came about to open its own office. These latest developments will have no effect on the Firm’s relationship with LNC, which will remain a member of BLP’s Asia Network. The existing relationship will continue to prosper and grow, sharing work whenever necessary.
Written by John on 22 November 2013.
♦ Breaking BigLaw News, Moves News ♦ Myanmar, Yangon
The new office marks the first opening of an international IP firm in the country. The office, located in Yangon, offers filing and prosecution for trade marks, patents designs and geographic indications, as well as broader portfolio management, commercial work and IP commercialisation services such as technology transfer. The office will be run by Rouse Partner and Thailand Country Manager Fabrice Mattei, who is also our Head of Patents. He is joined by Moe Mynn Thu who is a qualified attorney in Myanmar. Moe joins us from Myanmar Brewery Limited, and brings a wealth of experience to the team. As well as being an experienced IP attorney, he also lectures in law at Yangon University and is a member of the IP laws drafting committee of Myanmar. Chief Executive of Rouse, Luke Minford, said: “We are delighted to announce the opening of Myanmar office, the first of its kind for an international IP firm. We have worked actively in the Myanmar market for several years, and believe the time is now right to establish a base in the country. We already manage the IP of over 50 clients in Myanmar, and this step will ensure we can continue to deliver the level of service we pride ourselves on at Rouse. Rouse is uniquely positioned to operate in Myanmar, as Fabrice Mattei and Moe Mynn Thu have been instrumental in working with the Government to develop the trademark law currently before Parliament. Combined with Rouse’s strategic global approach, we’re confident Rouse will be a strong player in this market." Fabrice Mattei, said: “Myanmar is a thriving, nascent economy, with a strategic position between India, China and Thailand. Working in the country brings many opportunities, as well as challenges, to IP owners. The country’s IP regime is currently undergoing huge, and positive change – now is the right time for companies to begin to understand and protect their IP in Myanmar. I am looking forward to working with the rest of Rouse’s global network, at this incredibly exciting time.”
Written by John on 10 September 2013.
♦ Breaking BigLaw News ♦ Myanmar, Yangon
Duane Morris & Selvam LLP, the Singapore-based joint venture between Duane Morris LLP and Singapore's Selvam LLC, announced today that it has established an office in Yangon, Myanmar. The firm will serve international and domestic clients through two closely integrated entities: Duane Morris & Selvam (Myanmar) and Selvam & Partners. Attorneys will serve clients on investment and business matters, including all aspects of tax, licensing, regulatory, market entry, reporting requirements and U.S. Foreign Corrupt Practices Act and UK Bribery Act issues. It is the first launch in the country by a U.S.-based law firm. Krishna Ramachandra, managing director of Duane Morris & Selvam in Singapore, will serve as the managing partner of Selvam & Partners. Benjamin Kheng, an associate director of Duane Morris & Selvam in Singapore, will serve as a resident partner. In total, the office will launch with 10 local senior and junior practitioners, including multiple former judicial officers, practicing in a range of commercial and regulatory areas. Duane Morris previously expanded its global footprint with the formation in 2010 of an enhanced joint law venture with Selvam LLC in Singapore, creating Duane Morris & Selvam LLP, followed in 2011 by a strategic alliance with Mexico City firm Miranda & Estavillo. More recently, in March 2013, the firm launched its first office in the Middle East through a joint venture with the Al Mashaikhi Law Firm, a multi-practice law firm in Muscat, Oman. “Myanmar presents significant opportunities for foreign businesses, and our new presence there will allow us to provide on-the-ground, high-quality counsel to foreign and domestic businesses seeking to seize those opportunities while minimizing the inherent risks," said Duane Morris Chairman and CEO John Soroko. "We’re excited by Myanmar’s potential, and look forward to working closely with clients to achieve great things there.” “Our launch in Yangon, the country’s commercial center, is driven primarily by client interest, which has intensified significantly in recent years, as well as by the country’s projected long-term economic outlook,” Ramachandra said. “In addition, our team has built a strong relationship with Myanmar and its government, as a result of working closely with the Attorney General’s Office for many years. This is a natural next step for us. We intend to build a significant local contingent of experienced attorneys and consultants, supported by the infrastructure of an international law firm, to make our clients’ Myanmar plans a reality.” A resource-rich country strategically located on the Bay of Bengal and nestled between India and China, the Republic of the Union of Myanmar, also known as Burma, historically served as a major Southeast Asia trading center. The country has received intense attention from the international business community since the 2010 election of the country’s first quasi-civilian government. In less than three years, President U Thein Sein’s government has initiated a series of sweeping political and economic reforms leading to a substantial opening of the long-isolated country. These changes include new anti-corruption laws, exchange rate reforms, and modifications to the tax system, as well as relaxed import restrictions and the abolition of export taxes. In addition, in November 2012, President Thein Sein signed a new Foreign Investment Law, allowing overseas firms to fully own ventures, offering tax breaks and defining longer-than-typical land lease periods. The Myanmar government has also enacted better protections for basic human and democratic rights, and reduced restrictions on freedom of the press, association, and civil society. The country is preparing to chair the Association of Southeast Asian Nations (ASEAN) in 2014. As a result of the reforms, Myanmar’s economy grew approximately 6.5 percent in fiscal year 2012/13, and growth is expected to accelerate, according to an International Monetary Fund survey. For multinational companies in the energy, mining, telecommunications, and consumer products industries, Myanmar represents a virtually untapped market of more than 55 million people. While its economy is heavily agriculture-based, it also has thriving extractive and raw materials industries, particularly natural gas, timber, jade and minerals. The country boasts the world’s 10th largest natural gas reserves and significant deposits of metal ores, as well as precious and semiprecious stones. Foreign investment has increased significantly in recent years. In the first quarter of 2013, Myanmar received a total of US$810 million in foreign investment from 11 countries. Such investment is expected to steadily increase.
Written by John on 09 May 2013.
♦ Breaking BigLaw News ♦ Myanmar
Stephenson Harwood LLP has entered into an association with Myanmar law firm U Tin Yu & Associates, creating one of the first links between an international and a local firm in the country. The association will extend the reach of both firms, strengthening their position at a time when economic changes mean that the Myanmar market is opening up to foreign investment. U Tin Yu & Associates specialises in a number of areas, including corporate and commercial matters, litigation, real estate, IP and employment law. Sharon White, chief executive of Stephenson Harwood LLP, commented: “U Tin Yu & Associates has a respected and established local presence in Myanmar, and this new association enables both firms to broaden their client offering. We are seeing an increased interest in Myanmar from our clients and I am glad that we are now able to offer local knowledge and expertise from within the country." U Tin Yu & Associates Founder Partner, U Tin Yu commented: "It is an exciting time for us. We look forward to working with our colleagues at Stephenson Harwood and exploring the new opportunities this association will bring. As Myanmar opens its doors to the outside world we will require assistance in offering tailored legal advice to foreign companies who will have little or no experience in the country." The association adds to the firm's existing Asian footprint which includes offices in Beijing, Hong Kong, Guangzhou, Shanghai and Singapore, and associations with Indonesian law firm, Christian Teo Purwono & Partners ( November 2011) and with Singapore law firm Virtus Law LLP (incorporating Arthur Loke LLP) (April 2013).
Written by John on 31 January 2013.
♦ Breaking BigLaw News, Moves News ♦ Cambodia, Myanmar, Phnom Penh
Rajah & Tann has expanded its regional footprint to Myanmar and Cambodia by integrating two local and well-established law firms in a move that enhances the reach of its network in the emerging markets of Asia and its access to lawyers who are able to practise local law. Rajah & Tann NK Legal will commence operations in Myanmar following the integration of Myanmar law firm, NK Legal. Similarly, its tie up with Sok & Heng will see the network serving its clients in Cambodia through R&T Sok & Heng Law Office, a law firm registered with the Bar Council of the Kingdom of Cambodia. The expansion makes Rajah & Tann the only Singapore law firm with physical presence and full-service capabilities in the key emerging markets in Asia. Even before this expansion into Myanmar and Cambodia, Rajah & Tann was already the largest law firm in Southeast Asia, according to Asian Lawyer, the Asian edition of the American Lawyer. Rajah & Tann’s regional network include offices in China, Thailand, Lao PDR, Vietnam, and associate/ affiliate offices in Malaysia and Indonesia as well as regional desks focusing on Japan and South Asia. Rajah & Tann’s Managing Partner Mr Lee Eng Beng, SC, said: “Our goal has been to create an Indochina network of law practices so that we can serve our clients seamlessly regardless of where they are based in the region. These recent expansions are in line with this regional strategy. Our presence in these countries underscores our commitment to be the Asian counsel of choice in Asia.” Complementing Rajah & Tann's Indochina network is its Myanmar office, which will be staffed with Myanmar-qualified lawyers and headed by U Nyein Kyaw. U Nyein Kyaw added: "We are honoured to be part of Rajah & Tann's network given that its reach and reputation in the region is unsurpassed. I am well aware of its ability to handle the challenges of dealing with Myanmar's developing legal and regulatory framework due to its experiences in other emerging markets in Asia. Based on the pace of reforms in Myanmar, there is clearly strong demand for legal services for corporate and transactional work including mergers and acquisitions, joint ventures, market access and regulatory risk assessment. Coupled with the ability to tap into Rajah & Tann's Asian network, our clients are poised to benefit tremendously from the tie-up." The Cambodian office will be led by the two founding partners of Sok & Heng, Mr Sok Khavan and Mr Heng Chhay, with the latter being appointed the managing partner of R&T Sok & Heng. The new firm will continue to provide legal services to its numerous multinational and local companies in Cambodia and abroad, as well as to other Rajah & Tann clients seeking legal advice on Cambodia. Mr Sok Khavan said: “With the strong growth in the Asean economies, our Cambodian clients are increasingly looking beyond the domestic market for business opportunities. We have also noticed an uptick of interest from outside Cambodia into the country. Being part of Rajah & Tann puts us in a prime position to take advantage of the growth opportunities, given its leading position in the region and its extensive network of offices.” Rajah & Tann’s expansion comes at a time when Singapore government agencies including the Economic Development Board (EDB) and International Enterprise (IE) Singapore, have been encouraging local firms to venture abroad. Mr Kelvin Wong, Executive Director, Professional Services, EDB, said: “We are delighted to celebrate this significant milestone with Rajah & Tann. From its regional base in Singapore, Rajah & Tann will be well positioned to serve the growing demand for cross border, pan regional legal services as Asia grows. This will also strengthen Singapore’s position as an international legal services hub.” Mr Lee Yee Fung, Group Director for Lifestyle Business Services, IE Singapore, said: “Singapore’s export of professional services has been growing at a compound annual growth rate of 12% between 2000 and 2010. We expect this figure to further increase as Asia becomes the centre of global economic growth, and more business dealings are completed in the region. “With an established track record in Singapore, Rajah & Tann is well poised to extend its expertise overseas. We hope this case will motivate more Singapore companies to leverage this wave of growth and venture into the region.” Rajah & Tann's network in Asia offers a comprehensive range of practice areas including corporate finance and capital markets, mergers and acquisitions, shipping, arbitration, technology, insolvency, regulatory and litigation.