Investment Incentive Inventory 2022
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.