The adoption of the Law on Strategic Investments represents an important step in creating a more favorable investment environment, signaling the state’s clear intent to recognize and support projects with the potential to transform the economy, according to a statement from the American Chamber of Commerce (AmCham) in Montenegro.
“Through the Law on Strategic Investments, we see that the state recognizes the need to create conditions for Montenegro to become an investment destination, while also acknowledging the inefficiencies within public administration,” said AmCham Montenegro in a statement to Mina-business.
One of the key innovations of the law is the acceleration of administrative procedures required for the implementation of investments granted the strategic status, ensuring faster processing of relevant permits and approvals.
Additionally, the law allows both the state and private investors to identify and propose strategic investments, which AmCham sees as a positive approach.
They emphasized that in today’s dynamic global environment, a country’s ability to attract significant investments often depends on its legislative framework and the efficiency of administrative processes.
Draft Law on Strategic Investments open for public discussion The Ministry of Finance has recently put the Draft Law on Strategic Investments up for public discussion, which will run until the end of the year.
AmCham Montenegro expressed confidence that long-term sustainability and growth of Montenegro’s economy rely on attracting investors who bring not only capital but also knowledge and best business practices.
“Montenegro is already recognized for its attractive tax policies, so it raises the question of why we don’t have more such investors, especially from developed countries. The answer lies in the need to establish a predictable and transparent business environment based on the rule of law, as well as the need for a significantly more efficient public administration that must provide quick and high-quality services to investors,” AmCham explained.
Improvement of administrative efficiency for strategic investments AmCham believes that by improving the efficiency of administration for strategic investments, this law can facilitate decision-making for potential investors. However, they stressed the need for a broader improvement in administrative efficiency.
Commenting on the proposed expedited procedures for state agencies involved in the realization of strategic investments, AmCham pointed out that for Montenegro’s economic and social development, it is crucial to create an attractive environment for investors who bring valuable knowledge, experience, and community care.
“The efficiency of public institutions is critical, though not the only condition. When an investment is designated as strategic, public servants must recognize the need for swift and quality services during the investment process,” AmCham stated.
Global experiences with strategic investments AmCham Montenegro also noted that many countries in the region, and even those closer to Montenegro, have developed various policies and legal solutions to improve their economies and leverage their competitive advantages.
They emphasized that Montenegro, as a small market, needs to be not just better, but significantly better than others to attract the most renowned investors from developed countries. They welcomed any steps aimed at improving Montenegro as an investment destination, particularly focusing on attracting investments from the U.S. and EU countries.
AmCham believes the law is a step in the right direction but stresses that its successful implementation is crucial.
