U Win Myint made the remarks when meeting with Chief Justice U Htun Htun Oo and Supreme Court judges at the presidential palace in Nay Pyi Taw Wednesday.
"Greater amount of foreign investment will flow into Myanmar and our economy will develop only when there is rule of law and the country is free from corruption," he said.
U Win Myint emphasized that skilled and truly capable persons must be assigned positions in the judiciary to strengthen the sector and obtain help and support from organizations that provide legal aid and rule of law centers.
In his separate meeting with the Anti-Corruption Commission, U Win Myint urged the commission to perform its duties with more conscience as part of nationwide efforts to reduce cronyism, bribery and malpractice.
"Freedom from corruption is the sine qua non for building a clean government and good governance and it is also connected with foreign investment and the image of our country," he noted.
U Win Myint assumed office on March 30 after he was elected as the country's new president following U Htin Kyaw's resignation for health reason.