KFC's grinning Colonel Sanders and his goatee are among the few prominent signs of U.S. brands or business in Myanmar's biggest city, Yangon.
That will likely change after President Barack Obama ended most remaining U.S. sanctions against this fledgling democracy on Oct. 7. But much hinges on how the government led by former political prisoner Aung San Suu Kyi revamps the country's outdated laws and other policies.
The U.S. had earlier broad prohibitions on investment and trade imposed on this Southeast Asian country of about 60 million over the past two decades. The more targeted restrictions that ended earlier this month were mostly on dealings with army-owned companies and officials and associates of the former ruling junta. A ban on imports of jadeite and rubies from Myanmar also ended.
Up to now, the rush to invest in Myanmar has been dominated by Asian countries, especially China, its main investor and trading partner during its years of isolation. Most U.S. businesses and many other Western ones stayed away, mindful of fines potentially in the millions of dollars and jail terms of up to 20 years. (Courtesy of abcnews.go.com)
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