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Deloitte Myanmar Remains Committed to Advancing Myanmar’s Economy

15/05/2019

AUTHOR: MYANMAR BUSINESS TODAY

On April 9, 2019, Deloitte Myanmar – which specializes in a range of key industries and sectors, including the consumer and financial service industries, as well as the oil and gas infrastructure sectors – held a gala dinner in the grand ballroom of the Pan Pacific Yangon Hotel. The event was organized to thank the company’s clients for their strong support over the years, and also to reaffirm its commitment to helping businesses flourish in Myanmar, thus contributing to the country’s growth.

Deloitte Myanmar was officially launched on May 18, 2016 through a merger with Myanmar Vigour, a leading local professional services organization set up in 2003. Since its formation, the company has grown in size and scale. Today, the practice has over 140 professionals from 15 different nationalities.

Over the years, Deloitte Myanmar has served – and it will continue to serve – clients that range from large, multi-national corporations (MNC’s) and prominent local conglomerates to small-to-medium enterprises (SME’s) and startups. Deloitte Myanmar is an affiliate of Deloitte Southeast Asia, which is a member of the Deloitte Asia Pacific Network.

The event was attended by about 400 guests, including clients, representatives from the government and professional bodies, as well as Deloitte leaders and employees. It was graced by U So Win, the Union Minister of Planning and Finance and former Country Managing Partner of Deloitte Myanmar. Also present was U Set Aung, the Deputy Minister of Planning and Finance. The Ambassador of Japan to Myanmar, the Honorable Ichiro Maruyama attended, as did representatives from the embassies of China, Australia, Singapore, Vietnam, and Czech Republic.

The opening address was delivered by Deputy Minister U Set Aung, who highlighted the reforms the Myanmar Government has implemented to foster a positive local business environment. He also spoke about the role that Deloitte is playing in developing the skills of professionals within the country.

“As our economy continues to develop, and with the influx of companies setting up business here, the professional services that Deloitte provide will play an increasingly important role,” he said. “We have seen the progress that Deloitte Myanmar has made working with the Myanmar Institute of Certified Public Accountants (MICPA) to develop accounting professionals. We encourage greater collaboration with such accounting bodies, to advance the accounting and auditing practices in Myanmar and bring the accountancy sector to a more advanced level.”

Philip Yuen, Deloitte Southeast Asia Chief Executive Officer, said in his own speech: “Deloitte is proud to be in Myanmar. We are committed to building strong relationships and doing our part to contribute to the growth and development of this country.”

One of Deloitte’s unique strengths is the ability to work seamlessly as one team across the entire region. This competitive edge became significantly stronger when the Deloitte Southeast Asia firm joined with member firms in Australia, China, Japan, and New Zealand to form Deloitte Asia Pacific on September 1, 2018.

Philip said: “As part of a much larger and stronger firm with almost 44,500 professionals, we are now better able to seamlessly deliver superior services to clients across the region. Our clients now have access to the combined capabilities of Deloitte Asia Pacific and are able to obtain first class, specialized services to help them succeed not only locally, but also in the wider Asia Pacific region.”

U Aye Cho, the Deloitte Myanmar Chief Executive Officer, emphasized: “Deloitte Myanmar’s success has been largely due to the business relationships built and developed with each client, regardless of whether it is a family enterprise or a major conglomerate. At Deloitte, we listen to our clients so that we can provide solutions that work, taking into consideration the current environment and the circumstances that our clients are facing.”

He added: “Growth of businesses in Myanmar is important, as it helps to attract foreign investment that will create jobs for locals, drive consumer spending and ultimately help the economy of Myanmar to prosper.”