02 Dec '11, 3pm

(TODAY) Investment sentiments rise as Myanmar reforms progress

SINGAPORE - Myanmar's moves toward democracy earned an appointment with Hillary Clinton this week, the first visit by a US Secretary of State in more than half a century. Investors are hoping the removal of US trade sanctions against the country may eventually follow. Such is the growth of Myanmar since the release of pro-democracy leader Aung San Suu Kyi from house arrest a year ago and the granting of ASEAN chairmanship a month ago that Myanmar's forecast economic growth of 8.8 per cent in 2012 may outpace even that of its largest trading partner, China. Foreign investment is pouring into power generation and investors are clamouring for the country's oil, gas and minerals. Infrastructure investments are also booming. Singapore-based HSL recently completed a US$6 million (S$7.7 million) project in Kyaukpyu in the north-west of the country. "There are several major projec...

Full article: http://www.todayonline.com/Business/EDC111202-0000196/Inv...

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