The Globalist Multinationals succeed in yet another land grab! US firms descend on MyanmarSubmitted by go213mph on Sat, 07/14/2012 - 19:56
I litterally can't keep up with the incredible pace of "Globalization".
(Reuters) - General Electric Co secured a medical equipment deal with two hospitals in Myanmar on Saturday, becoming the first U.S. company to restart business in the long-isolated country since Washington eased sanctions this week.
U.S. firms are wasting no time since U.S. President Barack Obama announced the issue of general licenses on Wednesday to allow investment and financial services.
GE was the first to move, agreeing through its local dealer to provide X-ray machines for cardiology and topography to two private hospitals in Myanmar.
The deal was announced on Saturday during a U.S. business trip to Myanmar, where investors are hoping to tap into everything from infrastructure and financial services to information technology, oil and gas.
Wary of being left behind by Asian companies, 70 people from 37 U.S. firms were on hand to scope opportunities in the once secretive state.
Although the GE deal through local partner, Sea Lion Co Ltd, was relatively small at approximately $2 million, the company has big plans for Myanmar, where the government has vowed to boost healthcare spending and tackle chronic power shortages.
"We're now good to go," GE's chief executive for ASEAN (Association of Southeast Asian Nations) Stuart Dean said in an interview on the sidelines of a forum of U.S. businesses in Siem Reap, Cambodia on Friday.