KPMG has become the first of the Big Four professional services organizations to have a presence in Myanmar, widely considered the next economic frontier in Asia.

The new office will initially offer tax and advisory services, with plans for audit services to follow. It employs five local staff and will draw on support from KPMG in Thailand, with additional help from KPMG firms in Japan and Singapore.

It is based at No.32 Pyay Road, in Yangon.

Kaisri Nuengsigkapian, chief executive of KPMG in Thailand, led the initiative to extend operations to Myanmar. He said: "Myanmar is the second largest country in southeast Asia, and literally at the centre of opportunity in the region. Investors are flocking to the country and are excited about the possibilities they are finding. KPMG in Thailand is proud of the leadership role we are taking to support them."

The recent easing of many international sanctions against Myanmar, also known as Burma, has sparked interest from investors globally.