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Burma Signs GE Deal

President and CEO of General Electric ASEAN, Stuart Dean, second from left, signs documents during the signing ceremony between Sea Lion Co. Ltd., General Electric Healthcare and Bahosi and Pun Hlaing Hospitals in Rangoon, Burma, July. 14, 2012.
Just days after the United States formally lifted economic sanctions against Burma, General Electric has signed a deal to provide X-ray machines to two private hospitals in Rangoon. The U.S. company says the $2-million sale will go through a local company called Sea Lion.

The head of GE's Asia operations, Stuart Dean, has said the company is looking at expanding into other sectors of the Burmese economy now that sanctions no longer stand in the way.

The U.S. formally lifted sanctions against Burma Wednesday. Secretary of State Hillary Clinton and Burmese President Thein Sein also met Friday in Cambodia to discuss the possibility of additional investments.

Burmese officials are hosting 70 representatives from several big-name companies but are facing several challenges as the country sets out to attract foreign investors after years of isolation due to sanctions against the former ruling military junta. One of the biggest is an outdated infrastructure that includes persistent problems with the country's power grid ((electricity supply)).