US poised to allow new investment in Myanmar | world | Hindustan Times
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US poised to allow new investment in Myanmar

The United States is poised to allow US companies to invest with Myanmar's state oil and gas enterprise as the Obama administration takes its biggest step yet to roll back sanctions, marking a rare break from pro-democracy leader Aung San Suu Kyi.

world Updated: Jul 11, 2012 13:23 IST

The United States is poised to allow US companies to invest with Myanmar's state oil and gas enterprise as the Obama administration takes its biggest step yet to roll back sanctions, marking a rare break from pro-democracy leader Aung San Suu Kyi.

Suu Kyi, who has been the guiding force on US policies toward Myanmar, last month advised against investment by foreign companies with that enterprise because of concerns over its accountability and transparency.

Her comments reflected the growing disagreement between human rights groups and business advocates over how the US should proceed in easing restrictions to reward Myanmar's shift from five decades of authoritarian rule.

The administration is expected to announce this week a general license, opening all sectors of Myanmar's economy to American companies.