As Montenegro advances toward the prospect of closing new EU accession chapters, public and private stakeholders are increasingly engaged in debates about what the next stage of integration means for the national economy. A recent panel discussion under the EU 28-to-28 campaign, focusing on establishment, freedom to provide services, company law and capital flows, highlighted both the opportunities and the challenges ahead.
Montenegro has long positioned itself as the frontrunner in the Western Balkans for EU membership. But the real work lies not in political declarations but in structural alignment. The chapters currently under scrutiny touch some of the most sensitive aspects of the country’s economic framework: service-sector liberalisation, competition policy, financial flows and corporate governance.
One of the strongest messages from experts is that Montenegro is entering a phase where institutional maturity will play a decisive role. Investors expect predictability, transparent regulations and stable enforcement practices. Aligning company law with EU directives is critical for improving shareholder rights, investor protections and corporate governance standards. Many family-owned or privately operated Montenegrin companies will need to adapt to rules that require higher transparency and compliance.
Capital flow liberalisation will bring both benefits and vulnerabilities. Improved access to financial markets, easier cross-border services and enhanced mobility of professionals can stimulate economic activity. Yet they also expose Montenegro’s economy to external shocks if local regulatory frameworks are not sufficiently robust. The European Union’s financial ecosystem is complex, and Montenegro will need to upgrade supervision, anti-money-laundering measures and consumer protections to keep pace.
In the services sector, Montenegro holds competitive potential. Tourism is already harmonised with European demand patterns, but opportunities extend into engineering, IT services, professional consulting, digital finance, and maritime activities. EU alignment could unlock new markets and facilitate partnerships with European firms seeking near-shore capacity.
The central question is whether Montenegro can carry out these reforms at the necessary speed. Policymakers argue that political will exists, but administrative capacity remains limited. Institutional coordination, from local municipalities to national regulators, must improve to ensure that reforms are not fragmented or unevenly implemented.
For Montenegro’s economy, the closing of new EU chapters represents more than a symbolic milestone. It is a gateway to a larger economic system, a test of institutional preparedness and a catalyst for investment flows. Businesses and policymakers alike recognise that the coming period will determine the quality of Montenegro’s integration trajectory — and its ability to leverage EU membership into long-term economic resilience.
