The United States said it will ease restrictions on investment to Myanmar and quickly appoint an ambassador as it seeks to boost reformers who allowed landmark elections in the long-closed nation.
In its latest gestures under a three-year diplomatic drive on Myanmar, the United States said it would step up aid and allow select officials to visit but stopped short of easing the bulk of two decades worth of biting sanctions.
Secretary of State Hillary Clinton hailed the “leadership and courage” of President Thein Sein after the opposition swept Sunday’s by-elections, giving Nobel laureate Aung San Suu Kyi her first seat in parliament.
Clinton announced “the beginning of the process” of a “targeted easing of our ban on the export of US financial services and investment” to the country formerly known as Burma.
Clinton, who previously announced that the United States would restore full diplomatic relations with Myanmar for the first time in two decades, said the administration would complete formalities “in the coming days” and then formally nominate an ambassador to the Senate for confirmation.
Clinton — who paid a landmark visit to Myanmar in December — said that the United States would allow private organizations to pursue a greater range of work inside Myanmar, including democracy promotion, health and education.
Washington will also let select officials and lawmakers from Myanmar to visit the United States, relaxing restrictions, Clinton said.
Legendary investor Jim Rogers thinks investment in Myanmar is “wildly exciting”!