Myanmar's Union Parliament on Monday announced Tuesday as the date for holding presidential election, in which three vice presidents will compete for the presidency.

They are U Htin Kyaw, U Henry Van Htee Yu and U Myint Swe.

U Htin Kyaw and U Henry Van Htee Yu of the ruling National League for Democracy (NLD) were respectively elected by the two Houses as two vice presidents, while U Myint Swe was directly assigned by the military as other vice president to enter presidential run.

The parliament's announcement came after the three presidential candidates were declared by speaker of the Union Parliament U Mann Win Khaing Than as being qualified for the run after qualification scrutiny.

The parliament set three groups representing the two Houses and military MPs to nominate one candidate each in the final for presidential run and through voting, the one, who wins the most number of votes, will become president, while the remaining two be vice presidents.

The elected president and two vice presidents will be sworn in at the parliament on March 30, while the handover of the duties of head of state is set to be carried out at the Presidential Palace as a follow-up.