Montenegro has signed a controversial agreement with the United Arab Emirates (UAE) for a $30 billion investment, with plans to develop a mega-tourism complex at Velika Plaža in Ulcinj, one of the Adriatic’s prime locations. The project involves significant infrastructure, including a modern hospital, airport, universities, and marina, with investors such as Eagle Hills and Emaar Properties.
However, concerns have been raised about the transparency of the deal, particularly regarding land leases without public tenders and the potential for money laundering. The Montenegrin NGO MANS has criticized the agreement for bypassing national laws and creating opportunities for dubious capital. Local opposition, including Ulcinj citizens and the mayor, Genci Nimanbegu, also expresses fears about the impact on the community and the long-term lease conditions, which may last up to 99 years.
Prime Minister Milojko Spajić defended the deal, claiming it would bring significant tax revenue and development, dismissing concerns about corruption and emphasizing the importance of attracting serious investors. Despite support from some government members, including Vice President of the Assembly Nikola Camaj, the project faces opposition from the pro-Serbian Democratic People’s Party and other political figures, including those from the Democratic Union of Albanians and the opposition.
