According to the officials, this system will enable the people to work, invest and live in the country, Xinhua reported.
"The system is the one that will strengthen the favourable conditions of Myanmar at right time and it will enable scholars, experts, intellectuals and investors from other countries as well as former Myanmar citizens to contribute to the national development," Vice President U. Nyan Tun said.
Myanmar also introduced the visa-on-arrival system June 1, 2012, and since then travellers from 67 nations, including ASEAN countries, have benefited.
Since the civilian government took over in 2011, tourist arrivals in Myanmar reached 1.06 million in 2012 and rose to 2.04 million in 2013.
Myanmar is targeting three million tourist arrivals by the end of 2014.