Prime Minister Đukanović: Montenegro should not miss its unique development chance

Budva, Montenegro (13 May 2014) -- “Montenegro has enormous potential for development, but they need to be properly utilised. We have resources and we need knowledge and good energy. It is a unique opportunity that should not be missed,” Montenegro’s Prime Minister Milo Đukanović said in Budva on Monday at the opening of the 5th Festival of real estate and investment “FREI 2014.”

He said the investments that are underway in tourism, as well as those which implementation is to begin soon, are planned to generate EUR 3 billion.

“Now it all comes down to the question of our skills, vision and determination to properly read what our chances are and to take care of the possible outcomes. I am an optimist, I set my goals high. I'm trying to bring together capable, hard-working and loyal people in order to join our forces towards achieving these goals,” the Prime Minister pointed out.

One of his Government’s priorities is attracting new investors, he stressed.

“We must continue to systematically attract the most renowned and best investors. Montenegro should be proud of its investor community, which, I hope, is to be strengthened in the coming period,” Mr Đukanović added.

He said that Montenegro saw a growth rate of 3.5% in 2013, which is one of the most dynamic economic growth rates in the region.

“Our country has successfully completed the process of public finances consolidation and now it is preparing the implementation of its major investments. We continue pursuing European and Euro-Atlantic integration policies. It sends a message about our intention to modernise our system and harmonise it with what the standards of the European civilization of the 21st century,” the prime minister said, noting that further strengthening of macroeconomic stability remains the top priority.

In 2014, the government will be particularly focused on eliminating business barriers.

“We're taking actions with a view to making the business environment more coherent, stable and inspiring for investors. The emphasis is on investments in infrastructure, tourism, energy and food production,” he explained.

Project of submarine energy cable between Italy and Montenegro will be implemented over the next few years, the Prime Minister noted, which will enable solid power connection between the Western Balkans and the Western Europe.

Furthermore, the construction of Trans - Adriatic Pipeline has been initiated with Albania and Bosnia and Herzegovina, as a chance for solving the problem of high dependency of Montenegro’s industry and households on expensive sources of electricity.

PM Đukanović also mentioned the major development projects, such as the highway construction, railways and airports modernisation, which will significantly improve infrastructure and make Montenegro more accessible destination.

Montenegro imports a large quantity of food, PM Djukanovic said, adding that a good portion of the import is completely unnecessary.

“Therefore, we need better organisation to create conditions for yielding potential of the agricultural land in Montenegro. Increased demand for food after the implementation of new tourist resort does not mean greater import, but our chance to use our domestic potentials. Serious progress has been made in that regard," he stated.

He said the negotiations for the construction of the Block II of the Thermal Power Plant Pljevlja are at the final stage.

Tender for oil and gas exploration is also nearing completion, PM Đukanović noted, adding that Montenegro is to create conditions for gas exploration, thus resolving the issue of energy deficit under more favourable conditions.

The Prime Minister said that Montenegro’s major tourist projects are developing well.

“Investor in Kumbor intends to complete the investment by the end of 2016. We resolved the issue of restitution and post-property relations so that the Blue Horizon project is being successfully implemented. The conditions for the continuation of the Aman resorts in Milocer and Sveti Stefan have been also created. Despite the problems of political nature, I hope we will remove all the barriers and create conditions for the implementation of the investment at the location of Dubovica with a renowned company from Abu Dhabi,” the Prime Minister Đukanović concluded.