APFL & Partners has established a broad-based team to support the Myanmar Practice comprising Nicolas Audier, managing partner; Etienne Laumonier, partner; Eddy Jabnoune, resident director; and Phyo Min, senior legal consultant.
Our Myanmar team provides first-rate advice and assistance to clients on international and local legal matters and has particularly strong expertise in investment, corporate and commercial matters.
Myanmar is the second-largest country in South East Asia bordered by India, Bangladesh, China, Laos and Thailand. One-third of its perimeter of nearly 2,000 km forms a long stretch of coastline along the Bay of Bengal and the Andaman Sea. It has a population of around 55 million people.
Myanmar is a resource-rich country but, due to its long history of civil strife and inefficient military rule, it remains one of the least developed countries in South East Asia, with seriously inadequate infrastructure including badly degraded roads and railways.
The major industries in the country include agricultural goods (mainly rice), textiles, wood products, construction materials, gems, metals, oil and natural gas. Following major political and economic reforms, including the democratisation of government, reforming the exchange rate mechanism and easing restrictions on foreign investors, Myanmar is enjoying substantial and sustained economic growth. GDP grew 6.4% in 2018 and an even more impressive 6.8% in 2019.
Myanmar’s reforms have been supported by the lifting of sanctions by the European Union in 2013, significant easing of economic sanctions against Myanmar by the USA and substantial commitments of aid. This includes US$100 million in development aid from the EU alongside US$80 million in development aid and a further US$165 million in loan assistance from the World Bank.