Prime Minister Milo Djukanovic declared II Second Adriatic Business and Investment Summit open

MILO DJUKANOVIC, PRIME MINISTER OF MONTENEGRO

Ladies and Gentlemen,

It is a pleasure to welcome you again after one year to the opening of the Second Adriatic Business and Investment Summit in Budva, which, along with Sveti Stefan, the pearl of the Adriatic, become a traditional meeting place for economists, bankers, the present and future investors from the region.

This years Summit features the region of the Adriatic and South East Europe, which, I believe, is another evidence that Montenegro is turning into an inevitably venue for international business communities in this region. That is also a clear indication of our mutual aspiration and dedication to the development and intensification of cooperation aimed at promoting the overall business environment and boosting investment. This is all to improve the competitiveness of our markets and further the settlement of one of the main problems the region is facing at the moment relatively high unemployment rates and relatively low investment level. In the same way, considerable progress was also achieved by the activities conducted within the Investment Compact for South East Europe, under the auspices of OECD.

This government is fully dedicated to the creation of the environment that would stimulate economic growth. In addition to further development of institutional and regulatory framework in compliance with the EU standards, this includes complete openness and cooperation with the neighboring countries. The government will continue to give recognizable contribution in that respect. The removal of barriers to free movement of people, goods, services and capital is our permanent task. This is exactly what we are doing through new legislation the Law on Foreign Investment, Law on Free Zones, Law on Foreign Trade, Law on Enterprises and other regulations.

Dear Summit participants,

I am convinced that the results achieved in the field of macroeconomic stability, institutional and legal reform, infrastructure investment projects, initiation of new production and reinforcement of the private sector, as well as employment and social stability give us the right to be optimistic about our future. I encourage you to find your interest in conducting business in Montenegro and become a part of its European future.

I declare the Second Adriatic Business and Investment Summit open and I wish you all success in your work.

Thank you for your attention



Sveti Stefan, June 28th 2004.