YANGON, Myanmar and NEW YORK, Oct. 25, 2013 /PRNewswire/ -- Herzfeld & Rubin PC announced today that on July 29th, 2013, it became the first American law firm to open a law office in Myanmar,
as well as the first U.S. investor in the professional services
industry to hold a 100% ownership interest under the new 2012 Myanmar
Investment Law. The new law office, which is staffed by both American
and Myanmar attorneys, is named Herzfeld, Rubin, Meyer & Rose Law Firm LTD (HRMR) and is located in Yangon, Myanmar. The firm also plans to open a satellite office in Nay Pyi Taw, the national capital.
An on-the-ground presence in Myanmar allows the firm to support the needs of its global clients as they navigate business opportunities in Myanmar and, more broadly, in Southeast Asia. The office, which is fully integrated with Herzfeld & Rubin's affiliated offices in the United States, Romania and Israel,
leverages the firm's deep bench of expertise in emerging and frontier
markets. It offers a full-range of legal and business development
services in international transactions, banking, corporate law,
commercial litigation and international arbitration, employment law and
immigration, energy, government affairs, insurance coverage analysis,
intellectual property, real estate, trade (import/export) law, and
personal wealth administration.
"Herzfeld
& Rubin's attorneys have a rich history of helping develop legal
frameworks in several emerging and frontier economies around the world,
and our presence in Myanmar represents a substantial commitment to Southeast Asia. The HRMR law office, the first of its kind in Myanmar,
will assure foreign investors, and specifically American companies,
that their interests will be represented with the same skill, expertise
and ethical standards from which they benefit elsewhere in the world,"
said Eric C. Rose,
a principal of HRMR. Mr. Rose, whose legal experience has covered more
than 50 countries across the globe, has been involved with Myanmar since American Standard's entry into the country prior to the 2003 imposition of U.S. sanctions.
Dr. Andrew Ngun Cung Lian,
who was educated in the U.S. and also served as the Deputy Chief
Negotiator of the Chin National Front (CNF) in its peace negotiations
with the Myanmar Government, will serve as Managing Director of the
office and will lead a staff of five American and Myanmar attorneys.
U Kyaw Hoe, one of the leading civil and criminal litigation experts in Myanmar
and a member of the National League for Democracy (NLD) party's Central
Committee, heads HRMR's Litigation practice and is a leading Myanmar attorney, representing clients in contracts, real estate, labor and immigration law, as well as intellectual property matters.
In 2013, in part as a result of significant positive changes in Myanmar, the European Union and other countries lifted most trade sanctions previously imposed on Myanmar. The United States
recently suspended or let expire a number of sanctions in recognition
of the political and economic reforms under the leadership of President U
Thein Sein, as well as of the Myanmar Parliament, in particular the
Pyithu Hluttaw under Speaker Thura U Shwe Mann. These substantial
changes have included the adoption of over forty new laws (including the
Foreign Investment Law). In addition, the Myanmar
government has made a successful effort to negotiate peace treaties
with all of the major ethnic groups, has abolished press censorship,
freed political prisoners, held free by-elections, and instituted other
confidence building measures.
"The result of sweeping political and economic reform has ignited interest in Myanmar by American and other global investors—including our clients. Their renewed focus in the region, and Southeast Asia generally, is the impetus behind our decision to establish a presence there," said Herzfeld & Rubin's Managing Director, Ian Ceresney.
In the infancy of sustained economic development, Myanmar
is home to more than sixty million people and has abundant natural
resources including natural gas, petroleum, timber, tin, zinc, copper,
lead, coal, precious stones, and fertile lands. Adding a stable
government and a hard-working, literate and dedicated work force, Myanmar is at a pivotal moment. Analysts predict that Myanmar could quadruple the size of its economy and create more than ten million nonagricultural jobs.
Founded in 1948 and headquartered in New York City, Herzfeld & Rubin P.C.,
an AV-rated firm listed in the Martindale-Hubbell® Bar Register of
Pre-Eminent Lawyers™, is a full-service, internationally-known law firm
with over 200 attorneys in New York and four affiliated offices in the United States, Europe and Israel.
It is also a member of the Alliott Group, a worldwide alliance of over
180 independent accounting, law and consulting firms located in 80
countries, allowing the firm to fully meet the local and cross-border
needs of its clients.
source: PRNewswire
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