Fast GDP growth in Indonesia, an end to sanctions in Myanmar and ambitious government plans in India are among the top reasons for recent foreign interest in South East Asia.

Though there continues to be tight regulation of foreign firms in some jurisdictions, 2014 saw them take some bold steps towards tapping these markets; a potential lucrative workload generating everything from energy and project finance work to M&A and capital markets deals.

Among the biggest stories was Allen & Overy's launch in Myanmar – the only magic circle firm on the ground and among just a handful of foreign players generally with a presence in the market. Also moving in were Baker & McKenzie, Allen & Gledhill and Berwin Leighton Paisner (BLP), although the latter via an alliance.