NAY PYI TAW, March 26 (Xinhua) -- Myanmar will hold the presidential election on Wednesday to fill the presidency vacancy left by U Htin Kyaw who resigned from the post last week, the Union Parliament announced Monday.

It was announced by Speaker of the Parliament U Mahn Win Khaing Than, parliament sources said.

The presidential election will be contested among three vice presidents, namely Vice Presidents U Myint Swe, U Henry Van Thio and U Win Myint. U Win Myint was elected as vice president last week from the House of Representatives (Lower House).

U Win Myint from the National League for Democracy (NLD) was the former speaker of the House of Representatives who also resigned from the post last week to pave the way for the election.

Meanwhile, a day following the resignation of U Win Myint as speaker of the House of Representatives, his deputy U T Khun Myat was elected as the new speaker of the House of Representative.

The current parliament and government began their terms of five years from February and April 2016 respectively under the leadership of the ruling NLD which won the absolute majority of the parliamentary seats in the general election in November 2015.