Jul 14, 2013

US to invest in Myanmar’s infrastructure development

United States companies will start investing in Myanmar’s development focusing in sectors such as education and health according to Alender Feldman, chairman of the US-ASEAN Business Council who was meeting with President Thein Sein in Nay Pyi Taw.

China is the biggest investor to Myanmar this year so far followed by the US, according to the reports of Directorate of Investment and Companies Administration (DICA).

DICA also said that US companies have started working in Myanmar since last year and their investment volumes will likely climb in the coming years.

President Thein Sein said that Myanmar is rich in natural resources such as oil and gas and can create business opportunities for foreign investors.

It's geographical position linking India and China with the rest of South-East Asia makes it a huge potential market. Since lifting economic sanctions the US has provided programmes in health and infrastructural development.

Top US companies such as Coca Cola, Pepsi, General Motor, General Electric, Ford, Visa, Master and Western Union have entered Myanmar’s market and oil companies are soon planning to invest here.

Source: 11 Weekly Media