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Montenegro’s chamber of commerce highlights business opportunities in meeting with diplomats

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The Chamber of Commerce of Montenegro (PKCG) President, Nina Drakić, conveyed that the successful operation of international companies within Montenegro serves as a testament to the ongoing favorable business climate in the country.

During a meeting with diplomatic and consular representatives at the Government House in Cetinje, organized by the Chamber in collaboration with the Ministry of Foreign Affairs and the Investment Agency, discussions focused on presenting economic opportunities and investment potential in Montenegro.

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The collaborative relationship between the Chamber and the diplomatic corps aimed to strengthen economic interstate cooperation and collaboration between Montenegrin and foreign businesses.

Diplomats from 23 countries, along with representatives from the Chamber, the Ministry of Foreign Affairs, and the Investment Agency, participated in the event. President Drakić highlighted the positive economic trends in Montenegro in 2023, despite partially favorable external factors.

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However, she noted a continued decline in direct foreign investments, emphasizing the need for mobilization to restore a desirable level of foreign investment activity. Drakić underlined that diplomatic recommendations from international companies successfully operating in Montenegro indicate an enduring favorable business environment.

To attract investments swiftly, the completion of dynamic capital projects and the stimulation of investments, especially in concluding infrastructure projects, was deemed essential. Drakić stressed the importance of diplomatic and consular representatives understanding the Chamber’s dual role – providing support from the state in attracting foreign investments and handling a portion of its international economic positioning.

The Chamber closely monitors and analyzes EU institutions’ context, especially the new Growth Plan for the Western Balkans, allocating additional financial resources to support candidate countries and the private sector.

Dejan Vuković, Acting Director-General of the Directorate for Economic and Cultural Diplomacy at the Ministry of Foreign Affairs, emphasized the significant role of diplomatic correspondence and economic diplomacy in the era of globalization.

Economic diplomacy further contributes to shaping the country’s image. Vuković presented historical facts associated with Cetinje, highlighting its role as the core of Montenegro’s statehood and symbolizing anti-fascism, now representing multi-ethnicity and multiculturalism.

Snežana Đurović, Acting Director of the Investment Agency, discussed the importance of public-private partnerships, emphasizing the Agency’s role in promoting this investment model in Montenegro. She acknowledged the relative novelty of public-private partnerships in Montenegro and shared the Agency’s determination to identify potential projects at the local government level.

The Agency aims to help overcome obstacles to their realization, citing the significance of these partnerships for the country’s economic development.

Andrej Lakić, Assistant Director at the Investment Agency, focused on presenting Montenegro’s investment potential. His presentation highlighted completed, ongoing, and planned projects across priority development areas. Lakić emphasized the favorable fiscal environment, ease of doing business, equal treatment of domestic and foreign investors, and a stable banking system.

The meeting’s moderator was Pavle D. Radovanović, Vice President of the Chamber of Commerce of Montenegro.

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