"We'll finally get a system under which all investors get the level playing field," Minister of Economic Development and technology Zdravko Počivalšek said after the government session.

The aim of the long-awaited bill is to set up an attractive and predictable business environment for companies. It defines strategic investment and supports sustainable investment.

The bill is a response of sorts to the criticism that the government lacks a systemic legislative tool for the promotion investments, and that by adopting a special law for the paint shop of Magna Steyr near Maribor, it discriminates other investors.

"We're systemically tackling what we tackled for a single investment in a special law," the minister said.

The government wants to make sure that foreign and domestic investors are treated equally under the principles of responsible and effective use of public funds, effectiveness, transparency and international comparability.

Under current legislation only foreign investment is promoted, which puts domestic investors in an unequal position.

The bill defines the objectives, forms of incentives, conditions, criteria and procedures for awarding them to companies for greenfield investments and creation of jobs.

The types of subsidies envisaged are in the form of loans, guarantees and subsidised interest rates.

The bill introduces the possibility of selling real-estate under market value in a direct contract with a company in an attempt to cut the red tape. Local communities will have full discretion over that, the minister said.

Strategic investment is defined as investment in the manufacturing or services sectors valued at the minimum of EUR 40m and creating at least 400 jobs.

Investment in research and development will be strategic when valued at at least EUR 20m and creating at least 200 jobs.

A task force headed by the Economic Ministry representative and including an Environment Ministry official will be responsible for each strategic investment.

The idea is that strategic investments are lead in coordination by the ministry and that all three key documents - the environmental consent, the environmental permit and the construction permit are acquired faster.

The incentive will amount to 25% of the value of the investment.

The bill also introduces the possibility to expropriate landowners for strategic investment in that are in the interests of the public and that boost economic growth, jobs and even regional development.

The minister expects that the bill, along with the bill stimulating tourism could be passed in parliament in the first quarter of 2018.