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Montenegro and Japan: Fostering economic cooperation for shared prosperity

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Japanese corporations have shown significant interest in investing in Montenegro, with several prominent global Japanese brands being represented at a meeting with Prime Minister Milojko Spajić.

During the meeting, Spajić briefed Japanese company representatives on key decisions and reforms implemented by the 44th Government within its first five months. He outlined future priorities and elaborated on why Montenegro presents an attractive investment destination.

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“We are making strides towards becoming the next EU member, with a strong focus on bolstering the rule of law. Montenegro offers favorable conditions for business growth, including competitive labor taxes, affordable electricity rates, full adoption of the euro, and NATO membership ensuring additional investor security,” Prime Minister Spajić emphasized.

The discussions underscored ample opportunities for collaboration, particularly in renewable energy sectors. Prime Minister Spajić’s potential visit to Japan was highlighted as pivotal in furthering cooperation efforts.

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“The aim of our meeting is to identify avenues for business collaboration and investment. Montenegro’s evolving landscape presents a fertile ground for enhanced cooperation between our nations, paving the way for a prosperous future. Japanese business communities have shown keen interest in dialogue and collaboration,” Ambassador of Japan Akira Imamura conveyed.

Montenegro’s potential in harnessing hydroelectric resources, along with its strides in wind and solar energy production, was highlighted as an attractive investment opportunity.

“We see great potential in leveraging Japanese expertise and technology, particularly in the energy transition of the Pljevlja Thermal Power Plant. Green transition aligns with our EU integration goals, and we seek collaboration with Japanese firms in this arena,” stated Minister of Energy and Mining Saša Mujović.

Infrastructure development emerged as crucial for Montenegro’s progress, with Minister of Transport and Maritime Affairs Filip Radulović outlining transformative transportation projects.

“To fully leverage the Port of Bar’s potential, we must enhance road infrastructure, especially railways. We are committed to overhauling our railway networks and investing significantly in highways and expressways, welcoming Japanese firms to participate in these ventures,” Minister Radulović emphasized.

Representatives from Mitsubishi, Hitachi, Sharp, Toyota, and Nippon Express were among the attendees, showcasing the diverse spectrum of Japanese businesses engaged in exploring opportunities in Montenegro.

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