Bailey has reportedly been scouted by Manchester United this season and he is unlikely to be short of offers after scoring six goals in 18 appearances for Genk during the current campaign.
However, the 19-year-old has insisted that he will not entertain any proposals from other clubs unless he is given the opportunity to continue his development on the pitch.
He told HLN Sport: "I've always dreamt of the Premier League but if, let's say, Man United can't guarantee me minutes, I will stay at Genk.
"The important thing is that in the near future there a lot of games to come. This is essential for me because I have to take more steps. I've already made a lot of progress.
"When I go, where I go? That is a matter for my management. From the moment that there is something concrete, we'll sit down at the table."
Bailey was born in Jamaica but he also qualifies to represent Belgium.