Myanmar Election: How Key Actors Fared

The November 8 Myanmar general election was regarded by both local and international watchers as the country's first credible election. The election represents a critical milestone for this fledgling democracy; however, Myanmar's future political, social, and economic trajectory depends heavily on the transfer of power and ensuing formation of government and how the new ruling party is able to govern. The official results were finalized on November 20 with the main opposition party, the National League for Democracy (NLD), emerging as the clear winner. The election not only handed the NLD a long-awaited win, but also framed questions and exposed rising or falling fortunes for everyone interested in Myanmar's future.

Winners

Aung San Suu Kyi and the NLD: Aung San Suu Kyi's NLD secured a landslide victory in both houses of parliament and in the State and Regional Assemblies; the NLD's margin of victory allows it to form the new government without a coalition. The NLD will hold nearly every major office--President, one of two Vice Presidents, Speakers of both chambers of parliament, and the cabinet--with the exception of the other military-appointed Vice President and the Ministers for Defense, Home, and Border affairs. Aung San Suu Kyi remains constitutionally prohibited from becoming President. However, she has made it very clear, amidst some controversy, that she intends to take a role "above the presidency" (even though the constitution prevents anyone from being "above" the presidency) and that the yet-to-be revealed NLD President will make all decisions solely along party lines.

Foreign Direct Investment: Aung San Suu Kyi's international image and the NLD's recently stated commitment to financial sector reform to attract international businesses should provide a boost to foreign investment, particularly from those who have treated the Myanmar market cautiously. In the past two years, Asian companies have flocked to Myanmar, increasing foreign direct investment (FDI) five-fold to US$8 billion in the 2014/15 fiscal year. Meanwhile, most Western businesses sat on the sidelines and many never moved past the 'window-shopping' stage, feeling that the political and reputational risk associated was too great and the return on investment too small. The NLD win has significantly diminished those concerns. Myanmar can expect an influx of western businesses within the next fiscal year, although many are anxious to know the NLD's specific economic policies and approach to FDI. (Courtesy of Huffintonpost)

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