The Government of Montenegro has recently finalized an intergovernmental agreement with the United Arab Emirates (UAE), aimed at developing two major tourism projects—one in the south and one in the north of the country. Prime Minister Milojko Spajić announced this development, stating that the specific locations for the projects remain open for consideration.
The agreement, approved during a teleconference session on March 24, 2025, establishes a legal framework for enhancing economic cooperation, focusing on tourism projects. It outlines the development of a project in southern Montenegro and a ski resort in the north, both combining tourism and mixed-use real estate development.
The agreement also foresees the creation of a Joint Commission to oversee the project implementation. It is set for an initial period of five years, with automatic renewals unless one party decides to terminate it. Amendments can be made through additional protocols with mutual consent.
The agreement further defines collaboration areas, including telecommunications, aviation, investment promotion, infrastructure, construction, trade, tourism, small and medium enterprises, agriculture and e-government.
On March 21, 2025, the Government approved the framework for negotiations and the finalization of this agreement. Additionally, Prime Minister Spajić has met with local officials from southern and northern municipalities to discuss potential projects that could be proposed to UAE authorities during his official visit.
Furthermore, the Government appointed Bajko Vučićević as the Acting Assistant Director of the State Property Administration, following a proposal by the Ministry of Spatial Planning, Urbanism and State Property.
