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Foreigners invest €1.5 billion in Montenegro

Foreigners invest €1.5 billion in Montenegro

The new government is faced with many challenges provoked by global economic crisis, but we expect the government to continue to improve business environment and implement structural reforms. Digital transformation of the country must be strategic priority, representatives of the Council on Foreign Investors and Am Cham have said to Pobjeda.

They said that member companies would not be disturbed by the pandemic to invest €1,5 billion in Montenegro by 2022.

They remind that they have initiated numerous processes regarding improvement of the business environment.

“We have started talks on the formation of digital coalition, having regard to the fact that digital transformation of business processes in Montenegro is the key to the improvement of business environment. Adoption of the Strategy for Digital Transformation is, therefore, of particular importance”, representatives of the Council explained.

Council of Foreign Investors takes part in the work of the Competitiveness Council as the main advisory body in improvement of business environment.

“Reforms of the business environment in Montenegro must be implemented more efficiently to create a favorable business climate so that the entire Montenegrin economy can develop and recover faster“, point out from the Council.

They state that ITC sector represents a growing potential for Montenegro.

“This pandemic situation has also confirmed this. That is why we see digitalization as a joint responsibility of the public and private sectors, to create a reasonable and smart framework that will enable digital transformation in order to improve the efficiency of the administration,” the Council said.

They passionately believe the new government will recognize these priorities in the context of the current economic situation.

Members of the Council say that courageous and responsible decisions must be rendered in the forthcoming period.

They believe successful digital transformation is a great chance for the economy.

“Other small countries, as well as the countries of the region, were perfect example. Further development of the Montenegrin economy and society implies digitalization as a development and transformation policy, and we expect that digital transformation is one of the key policies of the government in the upcoming period,” the Council said.

“We believe that a transparent and predictable business environment, based on the rule of law, is a prerequisite for attracting investors from developed markets, who are accustomed to these standards, and on this basis should continue to further improve the business environment in Montenegro. The importance of foreign direct investments from the USA, but also from developed Western European countries, is very great for our economy and society. In that context, the knowledge and experience, as well as the value system that investors from those countries bring with them, will help us develop, adopt modern business standards and be more competitive on the global market“ the American Chamber of Commerce said.

 

Source: CDM

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