WASHINGTON (Reuters) - President Barack Obama said on Wednesday the United States was prepared to lift sanctions on Myanmar "soon" and that democratic progress in the country was incomplete but on the right track.

During a meeting with Myanmar's Aung San Suu Kyi at the White House, Obama said the U.S. moves would give incentives to businesses to invest in the Asian country.

Suu Kyi, visiting the White House for the first time since her party won a sweeping victory in last year's election, said it was time for all sanctions that hurt her country economically to be lifted.

(Reporting by Jeff Mason; Editing by Paul Simao)