US to encourage investment in Myanmar

US Secretary of State Hillary Clinton has declared Myanmar open to US investment. This follows the recent easing of US economic sanctions against Myanmar.Clinton announced during her speech in Cambodia on Friday  said the United States is setting up protections to ensure that increased American investment advances rather than undermines the reform process in Myanmar.

The US administration on Wednesday loosened its sanctions against Myanmar as a reward for pro-democracy reforms.It gave permission for US companies to invest in Myanmar on condition that they do not do business with firms owned by the military.Clinton met Myanmar's President Thein Sein and asked him to improve the country's business environment for US investment.The meeting was also attended by a US business delegation that accompanied the Secretary of State