(VOVworld) - Myanmar has organized what is being called its most democratic and free general election in 25 years. Although the official results have not yet been announced, whoever is the winning party will continue Myanmar’s policy of openness and democratic reform. This is a precondition for Myanmar to maintain its economic growth and improve people’s living standard.

Approximately 80% of Myanmar’s 32 million voters went to polling stations on November 8 in the hope that a new government will continue to lead the nation on the path of reform.

Favorable conditions

Since the military government embarked on a transition to a civil, democratic government a few years ago, significant change has occurred in Myanmar. Political parties have been growing and more than 6,000 candidates from 90 Parties contested the election. A National Ceasefire Agreement between the ruling Union Solidarity and Development Party (USDP) and rebel armies was an important step towards sustainable peace.

Myanmar was one of the poorest countries in the world after 2 decades of embargo. Myanmar’s economy has grown 7.6% on average over the last 3 years and it has become an attractive investment destination in Southeast Asia. The Asian Development Bank predicts that Myanmar’s economy will grow 9.5% and its per capita annual income will reach 5,000 USD by 2030. The International Monetary Fund says that with its rich natural resources, young labor force, and strategic geographic position Myanmar will likely become a resource and energy center, connecting India, China, and Southeast Asia.

Myanmar voters’ faith in a peaceful and stable country has been consolidated by the competing parties’ commitment to democracy. They are enjoying the fruits of the reforms led by the ruling Union Solidarity and Development Party. The campaign slogan of the National League for Democracy (NLD) led by Aung San Kyi is “Time for change” towards a civil government that will ensure human rights.

Formidable challenges

Analysts say the post-election government in Myanmar must face the challenge handling relations between political parties and rebel groups, which will decide Myanmar’s future. Religious differences and extremism will be another major challenge. Despite some socio-economic achievements, Myanmar needs a government that really cares about the people because one third of its population lives in poverty.

The success of the November 8 election will help Myanmar achieve the political stability it needs to grow its economy in the coming years.