The Ministry of Regional Development and Investment Cooperation in Montenegro plans to intensify its efforts in improving the business environment this year, according to Minister Ernad Suljević. The Ministry aims to identify key opportunities and challenges for businesses through direct communication and will create a program to support investment activities with a budget of 1.2 million EUR.
This program will provide grants for investments in equipment and other intangible investments for small and medium-sized enterprises and entrepreneurs to improve their competitiveness and production capacities, which will contribute to job creation, particularly in underdeveloped regions.
Additionally, the Ministry will create a program to support local governments, with 150,000 EUR allocated for this purpose. The focus will be on less developed local governments and inter-municipal projects in accordance with local development plans.
The Ministry will also continue working with the UN Development Program to support local governments in developing strategic plans. Moreover, Suljević emphasized the Ministry’s focus on revising the Law on Regional Development, which includes significant changes to improve regional development policies.
Suljević noted that a key priority is enhancing collaboration with local governments and other state institutions involved in regional development, particularly in drafting strategic plans.
Regarding the capital budget for this year, the Ministry does not have specific projects planned but recognizes the government’s commitment to infrastructure and regional development. The planned 280 million EUR capital budget is a 15% increase from the previous year, focusing on transportation infrastructure and local projects, especially in the northern region of the country.
Suljević also highlighted investments in healthcare and education infrastructure, especially in the north, and emphasized the need for better connectivity and job creation through these projects. A key initiative in the tourism sector is the Special Investment Program for economic citizenship, which has already attracted significant attention, bringing in around 80 million EUR in revenue.
The Ministry is also focused on creating a more favorable business climate by addressing administrative barriers, reducing the gray economy, and establishing digital processes. Suljević emphasized the importance of a transparent system, such as the Register of Levies, to streamline business operations.
In response to public criticism about a lack of new investments since the change of government in 2020, Suljević explained that Montenegro remains an attractive investment destination, but external factors such as political instability and global economic conditions have impacted foreign direct investments. He stressed the need for coordinated efforts across various sectors to improve the investment environment.
The Ministry also coordinates a registry of incentives for investments, offering a comprehensive overview of available financial and non-financial support measures for domestic and foreign investors. The goal is to further enhance the business climate, ensuring greater investment security in Montenegro.
