Chevron declined to comment on its investment in Myanmar, while Telenor did not respond to several requests for comment. In China's orbitMyanmar's $70 billion economy should be a strong investment proposition for Western firms. In April, Myanmar passed a long-awaited investment law, simplifying procedures and granting foreign investors equal treatment to the locals. Myanmar's economy may not suffer much, however, if Western firms shun the country - or even if their governments were to reimpose some sanctions, although that appears unlikely for now. In April, the two countries reached an agreement on an oil pipeline that pumps oil across Myanmar to southwest China.

Source: bd News24 September 22, 2017 02:48 UTC