PM Krivokapić takes part in EBRD Western Balkans Investment Summit in London

Prime Minister Zdravko Krivokapić is participating today in the Western Balkans Investment Summit, organised by the European Bank for Reconstruction and Development (EBRD) in London. Today's summit was opened by EBRD President Odile Renaud-Basso.

Prime Minister Zdravko Krivokapić said that Montenegro achieved the highest economic growth in Europe last year.

As a result of good governance, Montenegro has managed to consolidate public finances in the past year and has generated a surplus in recent months, with a transparent programme budget providing citizens with an insight into the budget at all times. At the same time, with a hedging arrangement with four banks, Montenegro has reduced the foreign exchange risk of motorway loans to a certain level of security. The policy of zero tolerance for corruption, implemented by the Government, has contributed to the fact that Montenegro, according to the latest democracy index for 2021, is no longer classified in the category of hybrid regimes, said Prime Minister Krivokapić.

The results achieved in European integration process as well as in the fight against organised crime, which is confirmed not only by the cocaine seizure carried out in cooperation with international partners, but especially by actions of the Montenegrin institutions in January this year, says Prime Minister Krivokapić, contribute to perception of Montenegro as safe investment destination.

Prime Minister Krivokapić also referred to the "Europe Now" programme, which improves the business environment.

In the context of transport connectivity, Prime Minister Krivokapić emphasised the importance of the continued construction of the Bar-Boljare motorway for regional connections. Important traffic priorities are the Adriatic-Ionian motorway, as an important link that will connect NATO members, from Italy to Turkey, as well as the reconstruction of the road Podgorica - Sarajevo through Šćepan Polje.

In the context of energy, he pointed out Montenegro's potentials in the field of renewable energy sources, where the potentials of the Port of Bar stand out, especially when it comes to liquefied gas.

We have nearly finished preparing the Law on Sustainable Energy, which will be a good foundation for future activities in this field, said Krivokapić, stressing the great and diverse potentials of Montenegro when it comes to tourism.

When it comes to digitalization, the Prime Minister said that one of the key pillars of the Government is digital transformation. As Prime Minister Krivokapić concluded, the intention is to prevent the migration of young people from Montenegro through the newly formed Innovation Fund.

Welcoming the Western Balkans Prime Ministers, Ms. Odile Renaud-Basso emphasised the importance of regional cooperation and the place that this region has in Europe.

She especially stressed the need to promote regional cooperation in order to preserve regional stability and ensure economic progress in the region. In the context of the current situation in Ukraine, she condemned the Russian invasion, while expressing sympathy to those who lost their loved ones.

European Commissioner for Neighbourhood and Enlargement Olivér Várhelyi underlined the need to further strengthen the European perspective of the Western Balkans, whose security and safety has never been more important than it is today, noting that all candidate countries have made progress. He also pointed out the basic projects that the EU is implementing in partnership with the EBRD in the countries of the region.

The summit participants presented the investment potentials of their countries, with reference to basic macroeconomic indicators and key projects in the field of transport connectivity, energy (green agenda and renewable sources), tourism, digitalization, both of individual and regional importance.