Director of the Montenegrin Investment Agency, Dejan Medojevic, and the President of Montenegrin Foreign Investors Council, Christoph Schoen, signed today a Memorandum of Cooperation between the Montenegrin Investment Agency and the Montenegrin Foreign Investors Council.

The Memorandum of Cooperation defines the basic areas of cooperation such as: mutual support and assistance in order to achieve the quality of public-private dialogue, working together on creating conditions for improving the investment environment by creating a purposeful legal environment, joint action to encourage direct investment through various forms of cooperation, and combined effort to overcome challenges that foreign investors may encounter.

Director of Montenegrin Investment Agency pointed out that the cooperation with the Montenegrin Foreign Investors Council will be based on the principles of partnership, transparency, responsibility and mutual information. He also emphasized the importance achieved so far through the contribution that Montenegrin Foreign Investors Council provides through the work of the Competitiveness Council, in which the Montenegrin Investment Agency participates, highlighting that signing this Memorandum will contribute to further cooperation through which the investment climate and business development in Montenegro will improve, but also expand communication with companies with which Council members cooperate, and at the same time have expressed a desire to do business in Montenegro. The Director of the Montenegrin Investment Agency emphasized his satisfaction with the encouraging long-term plan of the member companies of the Montenegrin Foreign Investors’ Council to invest approximately 1.5 billion euros in Montenegro in the period 2020-2022. The largest investments are expected in the sectors of tourism, energy, electronic communications, trade, insurance and maritime affairs.

The President of the Montenegrin Foreign Investors Council confirmed that despite the overall economic situation due to the COVID-19 virus pandemic, the member companies of the Council continued to invest, create jobs and regularly settle all obligations, and the continuation of their activities will have a vital impact on Montenegro’s economic recovery. Additionally, he pointed out that there is a wide space for further strengthening of cooperation with the Montenegrin Investment Agency through regular meetings at both high and operational level with a special focus on activities aimed at improving the overall business environment in Montenegro.

The Memorandum was signed in the premises of the Montenegrin Investment Agency of Montenegro in compliance with all epidemiological measures.