Pubs and bars must serve food and operate on a table service basis.
However, those pubs that do not serve food will be allowed to sell alcohol outdoors.
The tourism industry had been given an initial indicative date of 20 July, but had lobbied for earlier re-opening.
Economy Minister Diane Dodds hailed Friday as a “great day”.
The hospitality sector was a cornerstone of the local economy, employing 65,000 people and generating £1bn in revenue each year, said Mrs Dodds.
“But these businesses also represent something more,” she added.
“They are the places people go to socialise, relax and enjoy themselves.
“People will be very pleased to once again have the opportunity to visit cafés, hotels, pubs, restaurants and visitor attractions.”
Visitor attractions such as museums and heritage sites can also reopen on Friday.
Although hotels will reopen, their spas and leisure facilities will remain closed for now.
Betting shops can also re-open on Friday.
Health Minister Robin Swann has urged people to drink responsibly when bars reopen.
He said: “I am not out to spoil anyone’s enjoyment. However, I have to remind everyone once again that the threat from Covid-19 is still very much with us.
“We are all familiar with the phrase ‘when the drink’s in, the wit’s out’. I hope and trust this will not be the case in Northern Ireland.”Chief Medical Officer Dr Michael McBride urged the public not to put at risk the progress made in the fight against coronavirus.
“Responsible socialising means remaining vigilant about the virus and continuing to follow the public health advice,” he said.
Guidance to help businesses keep staff and customers safe has been published on the Tourism NI and nibusinessinfo websites.