In regard to hotel construction, foreign investors are not allowed to own land but can hold leases for up to 70 years.

The development of several hotel zones across the country is underway. A new airport is being built in Yangon, the largest city and commercial center of Myanmar. And the expansion of the capacity of airports at destinations such as Mandalay, the country's second-largest city, and Bagan, a favorite tourism destination, are being discussed, according to local media.

Many international hotel groups have returned, keen to invest. A new hotel construction project in Yangon was approved in April, local media reported.

A joint venture by a British and a Chinese company will build a hotel and a serviced residence in the Pyinmabin Industrial Zone in suburban Yangon. Another high-end hotel built by a Hong Kong company will open soon in the same city.

In Yangon alone, another 1,000 new rooms will be built to serve the booming market this year, the minister said.

When asked about foreign visitors' security and safety issues while traveling in Myanmar, the minister shrugged off any concerns.

"Seeing is believing,"he said.

Myanmar will host the 27th South East Asian Games at the end of this year and it will chair the Association of South East Asian Nations next year. Both will be good opportunities, involving visits by athletes, businesspeople, political leaders and travelers, he said.

"We will get a lot of mass market experience out of these events.”