TPG Capital and former LightSquared Inc. Chief Executive Officer Sanjiv Ahuja are teaming up on a telecommunications venture in Myanmar, the first foray by a big- name U.S. private-equity firm in the country since it emerged from military rule three years ago.
Coca-Cola Co. and Suzuki Motor Corp. are among companies pushing demand for transportation of machinery to Myanmar to bottle drinks and make trucks, after the country’s five decades of isolation during military rule.
Myanmar President Thein Sein last visited the United Nations three years ago as the face of an authoritarian military regime. Today, the former general-turned reformer will present Myanmar in a new light.
Myanmar President Thein Sein saluted top dissident Aung San Suu Kyi in a speech to the United Nations that dwelled on the difficulties facing his nation as it is “ushering in a new era” of democratic rule.
Myanmar freed 40 political prisoners and granted amnesty to 200 others facing charges following President Thein Sein’s pledge to increase freedom in the country, according to a group representing the detainees.
Secretary of State Hillary Clinton urged Asian countries, and Myanmar in particular, to embrace human rights and political openness as crucial components in attracting investment and driving economic growth.