New era begins for Mynmar as Htin Kyaw sworn in

U Htin Kyaw, a close aide of Nobel laureate Aung San Suu Kyi, was sworn in as Myanmar's President today, a role that will see him act as a proxy for the pro-democracy figurehead and carry the hopes of a nation emerging from military rule.

Htin Kyaw takes power from former general Thein Sein who has helmed far-reaching reforms since 2011.

Suu Kyi, 70, is barred from becoming president by the junta-scripted Constitution but has declared that she will steer the government anyway.

The handover at the junta-built parliament in the capital Naypyidaw marks the final act of a prolonged transition since Suu Kyi's National League for Democracy party swept the November elections.

The NLD won 80 per cent of Parliamentary seats, handing them a massive public mandate to rule after generations of army domination.

Wearing a collarless shirt in the NLD's peach-coloured parliamentary colours, the bespectacled Htin Kyaw pledged to be "faithful to the people of the Republic of the Union of Myanmar".

"I will uphold and abide by the Constitution and its laws. I will carry out my responsibilities uprightly and to the best of my ability," added the 69-year-old, who is an old school friend of the Suu Kyi.

The cabinet was later sworn in by the speaker in a colourful line-up that included ministers from ethnic regions and a blue-clad Suu Kyi, who holds a clutch of cabinet positions including that of foreign minister.

Yet three men in military uniform were also present at the swearing in - a sign of the continuing stake the army holds inside the new government. The military holds a quarter of all parliamentary seats, another gift of a Constitution it scripted.

The Southeast Asian nation of 51 million people is in the throes of a dramatic transformation as it emerges from domination by paranoid and repressive generals who cut the country off from the outside world.

As a result expectations for an NLD-dominated government run high, but Myanmar's new rulers face a steep task.

Civil wars continue to rage in ethnic minority borderlands, poverty is widespread and the military continues to hold huge political and economic powers.

Myanmar has witnessed a staggering political change shepherded by outgoing President Thein Sein, a former senior junta general.

Investors and tourists have begun to pile in as many of the junta's worst repressions have eased, promising a better future to a public who now have access to mobile phones, cheaper cars and other coveted consumer goods.