Investments from the Montenegrin diaspora hold significant potential for the country’s economic development, but face challenges that often discourage engagement. The Ministry of Diaspora, led by Minister Mirsad Azemović, is working to improve the investment environment by promoting successful examples, increasing transparency, and reducing bureaucratic barriers.
Investment environment efforts
The Ministry is focused on creating better conditions for investment, improving dialogue with local authorities, and implementing tools like an electronic information system to make access to information easier. However, challenges remain, such as the need for personal connections with local officials to secure project approval and the lack of adequate legal protection for diaspora investors. Miloš Bukilić, a representative of “Patriots of Germany for Montenegro,” emphasizes that these issues often discourage diaspora investors, who expect concrete measures for transparency and equal treatment.
Azemović acknowledges these concerns, stressing that promoting positive diaspora investment examples, improving legal security, and creating incentive programs are key actions. He also highlighted the Ministry’s support for potential investors, including providing technical and administrative assistance.
Legal and institutional challenges
Bukilić points out that the lack of updated urban planning documents and clear development zones in municipalities deters investment. He also criticizes the political influence at the local level, which hinders project implementation. He believes that the Ministry should advocate for legal changes to eliminate administrative barriers and ensure investor protection.
The Ministry is working on a comprehensive electronic system with information on municipal urban plans, tax incentives, and administrative procedures to aid diaspora investors. Additionally, the Ministry is engaged in discussions with other institutions to address bureaucratic hurdles and improve the investment climate.
Credit lines and financial support
Bukilić also emphasizes the need for the diaspora to have better access to favorable credit lines and guarantees. He urges the Ministry to work more closely with the banking sector to ensure that diaspora investors have equal opportunities to finance their projects.
Positive example: Petnjica investment
One positive example is the investment by Adis Ramdedović, the owner of TNA-ENERGIE, who is planning to open a factory in Petnjica to produce parts for diesel-electric generators. This project is seen as a model for successful diaspora investment, with the Ministry offering support for its realization.
In conclusion, while the Ministry is making efforts to improve the investment environment, Bukilić and others in the diaspora call for more decisive actions to address key challenges, particularly in legal reforms, bureaucratic efficiency, and access to financial resources. The diaspora has the potential to contribute significantly to Montenegro’s economic transformation through investments in various sectors, including tourism, energy, and agriculture.
