Monday, April 22, 2024
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Building a strong alliance for economic progress: Key takeaways from the ‘Open with the Prime Minister’ conference

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The “Open with the Prime Minister” conference, organized by AmCham Montenegro, highlighted the ambitious task of creating a vision of a developed state, appealing to esteemed investors from the US and EU. This goal, crucial for enhancing our economy and the quality of life for citizens, can only be achieved through a robust partnership between the public administration and the business community.

Svetlana Vuksanović, President of the American Chamber of Commerce’s Board of Directors, emphasized the importance of clear priorities such as fostering a predictable business environment, tackling the informal economy, advancing digital transformation, and nurturing human capital to realize this vision.

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“It’s noteworthy that Montenegro’s path to EU pre-accession and NATO membership positions it as an attractive investment hub, a finding reiterated in our business environment reports. Thus, AmCham remains committed to advocating for regulatory reforms aligned with EU standards, preparing Montenegro for EU membership,” Vuksanović affirmed.

Judy Rising Reinke, the US Ambassador to Montenegro, noted growing interest among American investors in Montenegro’s business prospects, spanning infrastructure development, energy projects, tourism, IT, and healthcare. However, concerns persist about contract application unpredictability, a factor that could deter potential investors. Reinke assured continued support from the Embassy and AmCham in bolstering Montenegro’s economic resilience and prosperity.

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At the “Open with the Prime Minister” forum, discussions centered on critical issues facing the business community and the opportunities and challenges confronting Montenegro. Prime Minister Milojko Spajić outlined three key priorities: upholding the rule of law, achieving full EU membership, and fostering exponential economic growth.

Spajić highlighted past achievements, including judicial appointments, the consensus-driven population census, and swift legislative amendments to avoid the ‘gray list,’ demonstrating responsible governance. He pledged unwavering commitment to meeting IBAR requirements and expressed confidence in Montenegro’s accession as the 28th EU member by 2028. Additionally, plans are underway for legislation addressing strategic investments to streamline key projects and facilitate long-term investor engagement.

The conference concluded with a commitment from AmCham and the Montenegrin government to continue the “Rule of Dialogue” Program. This initiative aims to enhance mutual understanding between the private and public sectors, promoting more efficient business barrier removal, improved legal frameworks, and better application of legal norms by both sectors.

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