He called for cooperation and support not only from the administration but also from security forces, political parties, civil society and the general public.

"We will hold the 2015 general election which will serve as one of the most critical steps in our democratic transition process," U Thein Sein said in his monthly radio speech to the nation on Thursday.

He noted that the 2015 election will mark the first time since independence in which all the political stakeholders will contest freely and fairly.

"In this way 2015 will be a remarkable year in Myanmar politics as it will be shaped by the election and by the efforts of all political stakeholders to find the right solution through the electoral process, " he said.

The president said it was critical and imperative to merge the political development with the national reconciliation process.

"The day we can do this is the day we can begin to build a new nation based on the ideals of a federal union and finally fulfil the need of our nation and society at large," he said.

"A successful 2015 election in conjunction with the initiation of the political dialogue process based on and grounded in nationwide ceasefire agreements marks a critical juncture in Myanmar politics."

The 2015 general election is roughly scheduled for the end of October or the start of November, according to the Union Election Commission.Speaking of Myanmar's economy status, U Thein Sein said the country was able to establish an investor friendly environment, leading to an increase in foreign investment by $6.3 billion in 2014.

He revealed that Myanmar is planning to launch the Yangon Stock Exchange in 2015, gradually introducing a public investment market.The Central Bank of Myanmar will sell government bonds through tender offer in January 2015, the president said.

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