THE United States has eased sanctions to allow its companies to invest in and provide financial services to Burma but will require them to make detailed disclosures about their dealings, the White House said.
The unusual requirement aims to promote greater transparency in the country as it emerges from nearly half a century of military rule.
President Barack Obama directed the US Treasury Department to issue two general licences, one giving general permission for investment in Burma and the other allowing financial services.
But he said the unfinished state of reforms left the US "deeply concerned about the lack of transparency and the military's role in the economy".
The rules require US individuals and entities making new investments of more than $500,000 (£324,000) to submit annual reports to the State Department on issues such as human rights, workers' rights and environmental stewardship. Annual payments over $10,000 (£6000) made to Burmese government entities must also be reported, while those investing in the Myanma Oil and Gas Enterprise must notify the State Department within 60 days.
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