asialaw Analysis

General business law

With an office in Yangon and operating on the ground since 1995, DFDL’s Myanmar practice specialises in banking and finance, capital markets, and corporate and projects work with a particular focus on infrastructure, power and mining. The firm is a true hybrid practice, being international in origin but also with a strong local law practice. Managing director William Greenlee and deputy managing director Nishant Cloudhary are key contacts. 

Client feedback 

“Extremely professional, timely, and trustworthly. – Intellectual property 

William Greenlee 

Greenlee is a consummate professional and has great comprehension of Myanmar law. 

Work highlights 

Advised a consortium of lenders in relation to a $2 billion financing for the Southeast Asian ride-hailing giant, Grab. 

Advised Credit Bureau Asia on the Southeast Asian law aspects of its IPO. 

Acted as local counsel for Shun Feng, China’s largest listed courier firm, in connection with its acquisition of 25 percent of Kospa, a Myanmar-based logistics firm, to help fund the expansion of its fleet and warehouse capacity. 

Key clients 

Asian Development Bank, Aviation Capital Group, BpifranceEuler Hermes, Osotspa, UKEF

Duane Morris & Selvam

As the first US firm to open in Myanmar in 2013, Duane Morris & Selvam advises on all aspects of Myanmar general business law to a highly capable degree. The firm focuses on general corporate work, direct foreign investment and market entry. It also has a strong reputation in projects and energy, banking and finance, litigation and regulatory work. Key contacts include Leon YeeKrishna Ramachandra and Priyank Srivastava.

Work highlights 

Advised a Singapore and Myanmar conglomerateEco-Friendly Tower Company, on its potential investment in a tower company. 

Advised a PRC company on a $100 million housing and development project and joint-venture matters with a Myanmar conglomerate. 

Assisted a PRC client with its comprehensive due-diligence exercise on an international educational institute with presence in Singapore, Myanmar, South-Korea and China. 

Key clients 

Iceberg HoldingOil India, State Bank of India, Vanguard Myanmar 

Kelvin Chia Yangon

Kelvin Chia Yangon is a premier choice for commercial matters as the oldest and largest law firm in the country. As an international consultancy, the firm is spearheaded by senior transactional lawyers with both international expertise and hands-on knowledge of local lawBeing in active operation in Myanmar since 1995, Kelvin Chia Yangon has an indisputable repuation as one of the leading law firms in the jurisdiction. Key contacts include Cheah Swee Gim, Pedro Jose F. Bernardo, Lyra Miragrace Flores-Bisnar and Khin Leinmar Ban Aye. 

Work highlights 

Provided legal and structuring advice on housing development projects for CLW Development, and assisted on finalisation of the project development agreement for the City Loft West Project. 

Assisted Yangon Yangon Amata Smart and Eco City on development of Yangon Amata Smart & Eco City, which includes industrial zones, logistics zones, residential zones, commercial zones, infrastructure and utilities zones and relevant infrastructure and facilities. 

Advised Nobels Company on regulatory and structuring matters, with regard to intended investments in livestock, dairy, agricultural, and food distribution businesses in Myanmar.

Myanmar Legal MHM

Myanmar Legal MHM offers a range of comprehensive law services with a particular focus on investment, M&A and banking and finance. The firm offers a team of senior lawyers with many years of international and domestic experience, who cover a range of practice areas and jurisdictions. As an experienced practice, Myanmar Legal MHM is highly capable of undertaking cross-border matters as well. Takeshi MukawaKana Manabe and Khin Cho Kyi are key contacts.  

Work highlights 

Represented AEON Mall on a joint venture for a project to develop shopping malls in Myanmar. 

Advised CB Bank on loan transactions to Myanmar corporate entities and Myanmar subsidiaries of foreign-headquartered firms. 

Advised Bangkok Bank on various complex lending transactions. 

Key clients 

Meeyahta Development, Myanmar Wanbao Mining CopperWalcoal Holdings 

Nishimura & Asahi (Myanmar)

Nishimura & Asahi is one of the longest-estabilshed international law firms in Myanmar. The firm has considerable experience in lobbying and negotiating with various government authorities, and also has a strong connection with the Japanese government. The firm is experienced in a variety of practice areas and industry sectors including banking and finance and corporate and M&A. Yusuke Yukawa and Isamu Imaizumi are key contacts. 

Work highlights 

Advised Ishii Hospital on opening a hospital in Yangon, Myanmar in cooperation with other investors. 

Drafted the new insurance business law of Myanmar at the request of Japan International Cooperation Agency (JICA). 

Advised JETRO Yangon in support of investment by Japanese SMEs through the establishment of a platform for local experts to advise upon. 

Key clients 

Ministry of Construction Myanmar, Nippon Koei, Ship Healthcare Holdings 

Rajah & Tann Myanmar

Rajah & Tann Myanmar is a full service law firm capable of providing high quality legal services in all sectors, including foreign direct investment projects, corporate and M&A, banking and finance, energy and projects, and competition and antitrustUnlike many foreign law firms, Rajah & Tann Myanmar acts for many large Myanmar companies, an indication of the firm’s strong local presence and expertise. Key contacts include Chester Toh, Min Thein and Kyaw Swa Myint. 

Work highlights 

Acted for Myanmar Apex Bank on a $30 million bank facilities granted to a Myanmar company for the development of a subsea cable from Myanmar to Singapore. 

Assisted Ascent Myanmar Growth Fund in its minority investment in Frontiir. 

Advised Liberty Global Transaction Solutions on the sale of privately-held Irrawaddy Green Towers. This was the second-largest deal ever involving Myanmar assets. 

Key clients 

Best Oil, Eden AgritechFar East Minerals, Pluto Rising

Thanlwin Legal

Thanlwin Legal provides legal advice to local and foreign businesses in Myanmar, with an increasingly predominant focus on servicing Chinese-speaking clients from China, Hong Kong and Taiwan. Thanlwin Legal has accomplished much in 2020, including winning clients consisting 75% of the largest solar power procurement and representing three out four foreign banks to obtain licensesBob Tseng and Lucas Chen are key contacts.  

Work highlights 

Advised Sungrow Power Supply on the investment structure, finance structuredrafting of memorandum of agreemenst (MOAs) and land lease agreements for a ground-mounted solar power plant project.   

Advised China Development Bank on due diligence for a telecommunication tower financing project. 

Advised Asia Myanmar Shining Star on a $50 million onshore loan project.

Tilleke & Gibbins

Tilleke & Gibbins’ full-service outfit in Yangon provides a gateway for regional and international companies to enter Myanmar’s emerging and liberalizing commercial markets. The firm focuses its practice on banking and finance, intellectual property, projects and infrastructure, and market entry advice. As an international law firm, Tilleke & Gibbins boasts many significant international clients who have significant impact on Myanmar’s economy and business. Yuwadee Thean-ngarm and Ross Taylor are key contacts.

Work highlights 

Assisted a Thai-listed company with its proposal to acquire 100% equity interestvalued at roughly $12 million, in a licensed microfinance company in Myanmar. 

Advised a leading bank in Myanmar on a complete redesign of its corporate governance structure 

Advised a major Thai electricity operator on matters related to Thai and Myanmar tax laws for a engineering-procurement-construction contract of an electricity project in Myanmar owned by a leading Thai oil and gas exploration. 


VDB Loi is a leading law firm in Myanmar with over 90 staff in Yangon as well as a fully operational office in Nay Pyi Taw. The firm is renowned for its award winning deals in the technology and telecommunications, energy, infrastructure, manufacturing, and retail sectors. As an international law firm, VDB Loi’s core expertise includes banking and finance, corporate and M&A and tax. Its Myanmar practice was particularly busy in the financial lending sector in 2020Jean LoiEdwin Vanderbruggen and Maxim Counsel are key contacts.

Work highlights 

Advised a large international real estate developer on its investment in mixed-use development project in Yangon. 

Advised an international bank on a loan granted to a local tower company to finance expansion of the tower network. 

Advised a leading privately-owned commercial bank in Myanmar on a long-term employee incentive scheme as well as regulatory and corporate aspects in implementing the scheme. 

WongPartnership (Myanmar)

Established in June 2014, WongPartnership’s Myanmar office advises clients on banking and finance, construction, foreign direct investment and real estate matters. The firm’s Myanmar practice capitalises on the country’s economic potential, especially in regards to foreign investorsYangon-based resident partner Suegene Ang is the key contact and she is bolstered by the support of top-notch construction, infrastructure, real estate and funds experts based in Singapore, like partners Christopher Chuah, Low Kah Keong and Tan Teck Howe.  

Work highlights 

Advised Singapore Airlines on labour, compliance and regulatory issues. 

Advised Enterprise Singapore on the transfer of contracts compliance with labour laws, regulations and practices in Myanmar, and matters relating to real estate issues. 

Advised Sodexo Services Asia oits acquisition of 61.8% of the issued and paid-up capital of Active Global Health Sciences Education Group. 


ZICO Law commenced operations in 2013 and capably offers a wide range of practices including corporate and M&A, projects, infrastructure, and real estate. In 2020, the firm’s corporate practice has been engaged in a number of significant first-ever’ M&A transactions in various industries, while the firm’s projects practice continues to maintain a portfolio of flagship projectsGeraldine Oh and Maung Maung Thein are key contacts.

Client feedback 

The legal counsel has very good knowledge of the Myanmar legal system and its intricacies. The advice given is also practical and on point. – Regulatory  

Geraldine Oh 

Her swiftness in coming up with solutions and her candour are admirable. 

Work highlights 

Advised A-Bank, a Myanmar-based bank, on its sale of equity shares to Kasikorn Bank.Advised China Triumph International Engineering as turnkey EPC Contractor in providing engineering and general contracting services for the construction and development of the 220MW solar power Plant in the Minbu District of Myanmar. 

Advised a multinational technology company on due diligence of its acquisition of a Myanmar telecommunications company. 

Key clients 

Digital Money Myanmar