US poised to allow new investment in Myanmar | World News - Hindustan Times
close_game
close_game

US poised to allow new investment in Myanmar

AP | By, Washington
Jul 11, 2012 01:23 PM 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.

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.

HT Image
HT Image

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.

Hindustan Times - your fastest source for breaking news! Read now.

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

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away! - Login Now!

Get Latest World News along with Latest News from India at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On