Allen & Overy (A&O) has become the first magic circle firm to set foot in Myanmar with the launch of a representative office in Yangon.

The office is led by Bangkok managing partner Simon Makinson, who has spearheaded the Myanmar launch over the past two years. The base is also staffed by two lawyers and three business services staff.

The launch takes the firm's Asia-Pacific office count to 12, including five existing ASEAN offices in Singapore, Bangkok, Ho Chi Minh City, Hanoi and Jakarta, with the latter established through an exclusive alliance with Indonesia's Ginting & Reksodiputro.

A&O has been advising Norwegian telecoms operator Telenor on its successful bid for one of two foreign licences enabling companies to provide telecommunications services in the country.

Makinson said lawyers in the Myanmar office have also been active in the banking and finance, energy, infrastructure, manufacturing and consumer goods sectors.

He said: "While risk is still a key factor for corporations looking to invest in Myanmar, the business and legal framework for opportunity is improving day-by-day."

The firm has additionally partnered with the Myanmar Attorney-General's Office and the University of Oxford to roll out educational programmes for government and regulatory agencies, members of the local legal profession and law students to help develop Myanmar's foreign investment know-how.

A&O is the latest in a line of firms expanding to Myanmar. In February Baker & McKenzie opened an office in Yangon, while a month later Berwin Leighton Paisner entered the market through a non-exclusive tie-up with Yangon-based outfit Legal Network Consultants (LNC). Duane Morris Selvam is also among the international firms with a presence on the ground.

Others to have recently expressed interest in the market include Herbert Smith Freehills, Hogan Lovells, Gibson Dunn & Crutcher and Watson Farley & Williams.