dolor sit amet, consectetur.
Our Strength Comes from Within is a campaign of the Chamber of Economy of Montenegro, which aims to spread awareness about the size, strength and importance of Montenegro's economy.
We believe it is particularly important to present the nation's business sector as a partner of foreign and domestic investors. The Chamber of Economy of Montenegro, as an association that represents the nation's commerce and industry, is an ally in this mission and serves the economy and entrepreneurs.
Through joint efforts and dedicated work, we create good things for Montenegro and its society.
Public private partnerships
The new law on public-private partnership has created a new framework for investment policy in Montenegro based on the model of public-private partnership agreements. Pursuant to this Law, public-private partnership is based on the principles of protection of public interest, free management which ensures a high degree of quality, safety and affordability, transparency, protection of competition and protection of the environment.
Economic citizenship has long been recognized in many countries around the world as an important instrument for attracting investment.
Investment incentive inventory
The Ministry of Economic Development and Tourism, in cooperation with the World Bank Group (IFC) and state institutions (Ministries, UPCCG, MIA, Eco-Fund, Chamber of Commerce, etc.), have finished the update of Investment Incentives Inventory for 2022 with a comprehensive review of available financial and non-financial support programs for the private sector as well as domestic and foreign investors for 2022, by the Government of Montenegro
The purpose of creating the Investment Incentives Inventory was recognized in the Action Plan of the Regional Investment Reform Agenda (RIRA), which is implemented within the multi-annual Action Plan for the Regional Economic Area in the Western Balkans (MAP REA). Aim of the Regional Investment Reform Agenda is to improve the attractiveness of the Western Balkans region for foreign but also for regional investors, which would enable a higher inflow of investments and achieve a higher level of entrepreneurship, trade and job creation. Ministry of Economic Development and Tourism have realized the update of the 2022 Investment Incentives Inventory which now have 51 investment incentives. These investment incentives have different area of scope, ranging from financial and non-financial to fiscal incentives. These also include tax and customs incentives, excise taxes incentives and fees, incentives in agriculture, science, tourism and services, construction, sustainable and economic development subsidies, and also renewable and hybrid energy incentives. As mentioned, 2022 Inventory includes vast range of investment incentives given by state and public institutions, as well as the incentives given by the line ministries.
The Ministry of Economic Development and Tourism of Montenegro will continue cooperation with World Bank Group (IFC – International Finance Corporation) regarding this subject and provide regular annual debriefs/reports about the progress and results of the Montenegro’s Investment Incentives Inventory
Program for Improving the Competitiveness of the Economy for 2020 allocated funds for 17 program lines, and 11 of them are Program lines for financial support.