Another investment in the field of tourism could be realized in Ulcinj, given that the Al Shiddi Group from Saudi Arabia is interested in building an exclusive tourist resort on the part of Cape Mavrijan in Ulcinj.
That’s why the Government adopted the proposal of the Memorandum of Understanding at the telephone session, which will be signed by the Government, the Municipality of Ulcinj and the investor, i.e. the company Al Shiddi Group.
As stated in the memorandum proposal, Al Shiddi aims to provide knowledge and identify and provide financing for the development and construction of an exclusive tourist resort on part of the Cape Mavrijan area.
– Al Shiddi will especially try to cooperate closely with the Government, relevant ministries and the Municipality of Ulcinj in order to successfully implement the initiative of building an exclusive tourist complex. Also, the company will strive to enable the connection of key factors necessary for the implementation of the initiative – the document states.
Also, the investor will submit an initiative to the Government, that is, to the processor of the spatial planning documentation, with the expected urban parameters, the purpose of the areas and other elements for the needs of the spatial planning document of importance for the development of the project.
The investor’s duty is also to provide a financial framework, with guarantees, which will be available to the Government for the implementation of the initiative.
In a memorandum, the government undertakes that, within its competences, it will try to participate in operational meetings between investors and the Municipality of Ulcinj, then to promote the importance of improving the tourist offer with a special emphasis on the positioning of Montenegro as a luxury tourist destination, but also to mediate in the implementation process the necessary contacts with representatives of institutions at the local and state level, and enable the creation of administrative prerequisites for the realization of the project.
The municipality of Ulcinj will, according to its best efforts, provide the necessary administrative and spatial support for the realization of the investment in question.
The parties agree that the coordination of activities will be carried out through the Cabinet of the Prime Minister of Montenegro and the office of Al Shiddi.
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