German Businesspeople Interested in Investing in Montenegro

By , 29 Mar 2019, 17:04 PM Business
German Businesspeople Interested in Investing in Montenegro Copyrights: B. Ćupić, Government of Montenegro

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28 March 2019 - Prime Minister Duško Marković met with the delegation of the German Committee on Eastern European Economic Relations. The Prime Minister noted that Montenegro is a stable and safe state, adding that for more than two decades it is part of a solution, not a problem in the region, and as such, it is oriented towards rapid economic growth and development. 

"Montenegro is the fastest growing economy in the region, and the economic growth rate of 4.9 percent achieved last year is one of the largest in Europe," the Prime Minister emphasised. 

Furthermore, he pointed to some other indicators of a successful economic policy - growth in industrial production and the food industry, an increase in exports by over 18 percent, a decline in the unemployment rate of six percent, and an increase in the number of employees by over 12,000. A surplus of the current budget amounting to 150 million EUR was achieved last year. 

"The key sectors of our economy are tourism, energy, agriculture, and we are actively working on industry's revitalization," PM Marković said. 

As an important prerequisite for further growth, Prime Minister Marković highlighted the development of the overall infrastructure. In this context, he pointed to a fund that will be created for this purpose through an economic citizenship programme. 

He expects significant incentives for faster development through the construction of the motorway, energy infrastructure, as well as valorization of airports and the Port of Bar, for which German businesspeople expressed interest.

German Business People Interested to Invest in Montenegro

"Our efforts to accelerate development, open new jobs and raise the standard of living are slowed down by some of the constraints we face. This primarily refers to our efforts in improving the rule of law, which includes the efficiency and reliability of the judiciary, the further fight against corruption and organized crime, the public administration reform," PM Marković said. 

Despite significant progress made in these areas, there are still challenges for which Montenegro has solutions, but the country also needs money and time to strengthen law enforcement institutions further and make Montenegrin public administration efficient and inexpensive. 

German businesspeople welcomed this approach, and especially praised Montenegro's role as a factor of stability in the region and highlighted the importance of the country's membership in NATO. Responding to the expressed interest in the dynamics of negotiations with the EU, Prime Minister Marković said that Montenegro was not focused on deadlines but on strengthening its internal potential so that it could fully assume the obligations of a fully-fledged EU member state.

Business people from Germany expressed interest to invest in energy, infrastructure, security and defence, as well as environmental protection. 

Pointing to specific favourable tax rates that make the business environment incentive, Prime Minister Marković invited German investors to come more often and invest more in Montenegro.

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