|Published:||Nov 22, 2012 2:42 AM EST|
|Updated:||Nov 23, 2012 7:31 AM EST|
YANGON, Myanmar (AP) - President Obama's historic visit to Myanmar this week seemed to herald a new era for relations between the long estranged countries. But America's political leadership welcoming Myanmar back to the international community is unlikely to result in a gold rush for U.S. companies.
Despite the suspension of most legal barriers, lingering sanctions put U.S. firms eager to tap Myanmar's 60 million-strong consumer market and rich natural resources at a competitive disadvantage. Concerns about corruption and political blowback at home also complicate efforts by U.S. companies to move in big and fast.
There remains confusion about what is permitted, and Washington has instituted onerous new reporting requirements. Lingering doubt about whether the changes, both in Myanmar and in U.S. policy, will stick has further chilled investment.