WEF 2013-2014 global competitiveness report: Montenegro establishes stimulative business environment

Podgorica, Montenegro (12 June 2014) -- In terms of competitiveness, Montenegro surpasses most of the countries of Central and East Europe with 4.07 points, the World Economic Forum (WEF) states in its 2013-2014 report on competitiveness titled “Becoming a More Competitive Europe.“

Montenegro's economy is characterised by a stimulative environment for entrepreneurship, above the EU average and well ahead of other candidate countries, the report reads. It also emphasises that starting business in Montenegro requires little time and a couple of administrative procedures, but that the country still has several challenges to tackle.

“The country has also advanced its digital agenda along with all sub-dimensions compared with 2010 and performs slightly above the EU average in the labour market and employment pillar. Going forward, further steps towards building its knowledge-based economy would be needed, including improvements captured by the “innovative Europe“ pillar, where it registers the largest difference to the EU average, as well as the educating and training pillar,“ the WEF concludes in its report.

When it comes to EU candidate countries, the report ranks Montenegro third in terms of inclusive and sustainable growth. It has gained 4.16 points out of 7 in the area of inclusive growth, 3.69 points in labour and employment area, 4.62 in social inclusion, and 4.76 in sustainable growth and environmental sustainability.

Average level in 28 member states of the EU is 4.56 points. Finland is the most competitive with 5.7 and Romania the least competitive with 3.64 points, the WEF global competitiveness report concludes.