Bulgaria's government is preparing a new bill for attracting foreign investment, the country's Minister of Economy Dragomir Stoynev revealed.

"The goal of this bill is to reduce bureaucracy and give businesses more flexibility", Minister Stoynev said, quoted by Investor.bg. He added that the draft bill is nearly ready and remains to be discussed with the business sector before entering Parliament for approval.

Stoynev assured that the new bill is designed to maintain the preferable conditions of Bulgaria for foreign investors, mainly the low corporate taxes and the stable financial climate.

Although direct foreign investment grew in 2013, its level was less than the target set by the government, the Minister added.

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