Montenegrin Investment Agency Director, Mr. Dejan Medojevic, signed today in Podgorica the Memorandum of Understanding between the Montenegrin Investment Agency and the Hungarian Export Promotion Agency (HEPA).

Memorandum of Understanding defines the basic areas of cooperation such as: promotion of improvement and diversification of mutual trade and investment cooperation in areas of importance for economic and social development, assistance in achieving mutual institutional goals to the extent mutually acceptable and feasible, exchange of information and documentation which can be key to the further development of the relationship between the two parties. Also, the Memorandum will be the basis for future cooperation between the two sides on the program “Investment Scheme for the Western Balkans” launched by the Hungarian Government, which is intended to improve economic development and prepare Western Balkan countries for EU membership by strengthening the presence of Hungarian companies. Through this program, Hungarian companies that plan to invest in Montenegro, can qualify with the Government of Hungary for a subsidy of up to 50% of the investment.

Recognizing the importance of the cooperation achieved so far with Hungary in the field of investments and foreign trade, the conclusion of this Memorandum will contribute to its further improvement.

Due to the current situation with the COVID-19 pandemic in the world, the Memorandum was signed by exchanging signatures through diplomatic mail.