Montenegro recorded 12.27 million euros in investment attributed to the Czech Republic in domestic companies and banks in the first half of 2026, up from about 660,000 euros in the same period a year earlier. Daniel Putík, chargé d’affaires at the Embassy of the Czech Republic in Montenegro, identified Fortuna Entertainment Group’s market entry, closer bilateral cooperation and Montenegro’s progress towards European Union membership as factors supporting further Czech investment.
Preliminary figures from the Central Bank of Montenegro put the increase at almost 19 times year on year, or approximately 1,760%. Total foreign direct investment recorded as Czech reached 16.47 million euros in the first six months of 2026, compared with 4.65 million euros in the same period of 2025.
Putík linked EU integration progress with greater legal certainty, a more predictable business environment and closer alignment of regulations with EU standards. He described those conditions as important considerations for investors and said Montenegro’s approach to EU membership was “an important positive signal for Czech investors”.
In his assessment, Czech companies’ interest in the Montenegrin market is expected to grow alongside the volume of investment in the coming period. He also pointed to stronger political and economic ties between the two countries as part of the setting for further investment.
Fortuna takes a majority stake
Fortuna Entertainment Group, a leading gambling services provider in Central and Eastern Europe, operates within investment group Penta Investments. It acquired a 51% majority stake in betting company Lob, which operates the Lobbet.me online platform.
The Czech investment group took the majority holding late last year in one of Montenegro’s largest gambling operators. Putík included Fortuna’s entry into the market among the developments that could support further Czech investment, alongside closer bilateral relations and Montenegro’s EU progress.
Another Czech company active in Montenegro is Škoda Auto, which operates through local distributor Autočačak Podgorica. Putík pointed to the brand’s strong sales performance and its leading position among car brands in Montenegro for several consecutive years.
Transport, energy, waste management, water resources and healthcare are the sectors in which the Czech Republic sees the greatest potential for further cooperation with Montenegro. The range covers areas where companies and public institutions in both countries have sought to build direct links.
Montenegro and the Czech Republic organised two business forums during the previous two years to connect businesspeople and institutional representatives. The forums also helped define practical steps to develop cooperation in sectors of shared interest.
The first forum was held in May 2024 during a visit to Montenegro by the Czech transport minister. The Fifth Joint Intergovernmental Commission for Economic Cooperation also met during that visit.
A second forum took place in January 2025 as part of the official visit to Montenegro by Czech President Petr Pavel. The meetings provided a setting for direct contacts between companies and public institutions, alongside the work of the bilateral commission.
The Czech Embassy in Podgorica runs economic diplomacy projects known as PROPED with the Czech Ministry of Industry and Trade and the Ministry of Environment. The projects introduce Montenegrin partners to Czech technology, particularly in environmental protection, water management and protection, and equipment for public bodies responding to natural disasters and other emergencies.
Defence agreement sets out first deliveries
Montenegro and the Czech Republic signed an intergovernmental defence cooperation agreement in Prague on 19 May 2026. It entered into force on 3 June, and Putík described it as an opportunity for Czech defence industry companies and for modernising and strengthening Montenegro’s capabilities as a NATO ally.
The agreement’s first implementation phase is based on an arrangement signed during Montenegrin Prime Minister Milojko Spajić’s official visit to Prague on 23 July 2026. Under the arrangement, the Czech side will supply Montenegro’s armed forces and other security structures with CZ BREN 3 rifles, pistols, sniper rifles, automatic weapons and small-calibre ammunition.
The weapons and ammunition are to be produced by companies operating within Colt CZ Group. The deliveries form the first phase of implementation; at the time of Putík’s comments, discussions on extending defence cooperation under the intergovernmental agreement were still under way.
