Yangon, Jan 15 (IANS): Myanmar will introduce permanent residence (PR) system this year for foreigners, parliament sources quoted Minister of Immigration U Khin Yi as saying Wednesday.

Khin Yi made the disclosure at the ongoing parliament session in Myanmar's capital Nay Pyi Taw during discussions on the tasks to be carried out in the fiscal year 2014-15, Xinhua reported.

Khin Yi also said the government would promote the system of granting online visa.

Since Myanmar introduced visa-on-arrival system June 1, 2012, travellers from 51 countries have benefited from the system.

Signing of memorandums of understanding is being planned for granting visa exemption to visitors from 16 countries including 10 ASEAN member nations in 2014-15, he further revealed.

The ninth regular sessions of the two houses of Myanmar's parliament -- House of Representatives (lower) and House of Nationalities (upper) -- began in Nay Pyi Taw Monday with the lower house discussing the state budget bill for the 2014-15 fiscal year and other important laws.

Presentations are also being made on the national planning bill (2014-15), a number of taxation bills, media law and special economic zone bill to both houses of the parliament.