Myanmar’s Suu Kyi in pitch to Foreign Investors After Obama Lifts Sanctions

NAYPYITAW Myanmar leader Aung San Suu Kyi on Saturday made a pitch to foreign investors, promising a clearer legal framework and opportunities in untapped economic sectors, two weeks after U.S. President Barack Obama lifted most sanctions on the country. Since taking power in April, Suu Kyi has been criticized for delays in forming a commission […]

Myanmar Shifts Gears to Drive Growth in Small Business

Aung San Suu Kyi on Saturday set out to promote an overhauled investment law to a new generation of smaller businesses that her government hopes will one day dilute the influence of Myanmar’s old military-linked oligarchs. The new blueprint aims to level the playing field between foreign and local businesses in Myanmar. It was signed […]

Military Officials, Cronies Released from US Blacklist

RANGOON — Burma’s former dictator Snr-Gen Than Shwe was among individuals removed from the US Treasury’s blacklist following the lifting of Burma sanctions on Friday. Another 16 senior military officials, including former Vice Snr-Gen Maung Aye, have been removed from the US Treasury’s Office of Foreign Asset’s Specially Designated Nationals and Blocked Persons (SDN) List. Apart from senior military officials, military-related businesses […]

US Urges Burma to end North Korea Military Ties

WASHINGTON — Pockets within the Burma military may still be cooperating with North Korea although the new civilian government and the military leadership oppose such ties, a senior US official said Wednesday. During Burma’s years of international isolation, its then-ruling junta bought defense equipment from North Korea. The US has been pressing Burma to cease […]

US Embassy in Yangon announces US$10million loan programme for Myanmar SMEs

State Counsellor Daw Aung San Suu Kyi’s visit to the United States illustrated the strong and growing friendship between Myanmar and the US, said US Ambassador to Myanmar Scot Marciel during a news conference at the US Embassy in Yangon yesterday. “The United States is committed to supporting the people of Myanmar and their government […]

Ahead of Suu Kyi visit, Obama weighs Myanmar sanctions relief

The United States is considering further easing or lifting sanctions against Myanmar around the time of a White House visit this month by the country’s new leader, Aung San Suu Kyi, U.S. officials told Reuters. President Barack Obama is expected to decide on the extent of the sanctions relief after consultations between Suu Kyi and […]

Targeted Myanmar tycoon may profit from US sanctions changes

YANGON, May 18 (Reuters) – Standing among the party seeing off Myanmar’s new president as he left for Russia on Wednesday was leading businessman Htun Myint Naing, better known as Steven Law. Only the day before, the United States had added six of his companies to the Treasury’s blacklist, a move that is unlikely to […]

Business lobby calls for U.S. to drop sanctions on Myanmar

WASHINGTON — The U.S. business lobby says it is high time to drop the remaining U.S. sanctions on Myanmar, but human rights activists and U.S. lawmakers say not so fast. Former political prisoner Aung San Suu Kyi is now running the government after winning elections. Still, the military continues to wield considerable power. That poses […]

Tears flow as Myanmar swears in first president with no army ties in more than 50 years

NayPyiTaw/Yangon: Members of Aung San Suu Kyi’s victorious National League for Democracy (NLD) were in tears on Wednesday as Myanmar swore in its first president with no military ties in more than half a century. Htin Kyaw, a close friend and confidant of the Nobel peace prize laureate, was hand-picked by her to run Myanmar’s […]

U.S. Plans to Ease Myanmar Trade Sanctions

The U.S. Treasury Department is preparing to make it easier for American companies to do business through a port in Myanmar that is owned by a sanctioned company whose reclusive owner has close ties to the ruling military junta. Since July, U.S. banks have been wary of processing payments for trade through the main port […]