Economic growth is in Montenegro’s interest, but it must be achieved in accordance with EU standards, stated the EU Delegation in Podgorica.
In response to questions about the economic cooperation agreement with the United Arab Emirates (UAE) and its potential impact on Montenegro’s EU accession process, they confirmed awareness of the document. They noted that it is natural for Montenegro to establish relations with countries outside the EU. The Delegation emphasized that Montenegro must adhere to EU procurement laws and its Reform Agenda, ensuring principles of equal treatment, non-discrimination, and transparency when implementing contracts and agreements under the UAE cooperation deal.
The Montenegrin government recently approved two draft laws related to confirming agreements with the UAE on economic cooperation and tourism/real estate development. Prime Minister Milojko Spajić explained that the government gave unanimous consent, though some ministers from the Democratic People’s Party (DNP) raised concerns regarding the real estate development agreement. They indicated that while DNP is not opposed to investments, there are uncertainties about specific projects.
The agreements, once confirmed by the Parliament, will have the force of law, taking precedence over domestic laws in the event of disputes. The UAE agreement proposes to choose an investor for two real estate projects in southern and northern Montenegro, with Montenegro obligated to finance infrastructure and provide building permits.
Prime Minister Spajić mentioned meetings with UAE businessman Mohamed Alabbar, who presented a €30 billion housing and commercial project at Velika Plaža, with the potential for a 99-year lease. He stated that the selection of the investor is still pending, and that MPs and local governments need to responsibly evaluate such projects to avoid missing potential economic opportunities.
However, Ulcinj’s mayor, Genci Nimanbegu, declared that Ulcinj is not for sale and that its history, identity, and natural resources should not be compromised for narrow interests. A protest, instead of a scheduled local parliamentary session, will take place in Ulcinj tomorrow at noon.
