PM Spajić in Davos: Discussions with leaders of JERA and Development Bank of Japan

Montenegro’s unique geographical position offers the potential to become a regional energy hub, advancing the standard of living for all citizens

Montenegro has a significant opportunity to ensure economic progress by diversifying its energy sector and developing its capacity to become a regional energy hub. This was the key message from the leaders of Japanese companies during meetings with Prime Minister Milojko Spajić at the World Economic Forum in Davos.

Prime Minister Spajić met with Yukio Kani, CEO of JERA, one of Japan’s largest energy companies, to discuss enhancing energy stability at affordable prices—a move that could attract numerous investors to Montenegro.

Further diversification of energy sources will ensure stability, security, and sustainability across the entire network. This is an excellent signal for major companies, as affordable electricity, coupled with a stimulating tax policy, is key to attracting investors, emphasized Prime Minister Spajić.

Montenegro has the potential to significantly enhance energy production through wind and solar energy, while also capitalizing on its hydro potential. Additionally, the country’s strategic location makes it an ideal candidate for LNG (liquefied natural gas) terminals, an area in which JERA has decades of experience and is regarded as one of the world’s leading companies.

Montenegro’s unique geographical position offers a chance to become a regional energy hub. Building such a hub, with strict adherence to safety standards, will convince local communities of the safety and viability of such projects. It will also position Montenegro as a reliable energy supplier to countries in the region and the European Union, stated JERA CEO Yukio Kani.

The Development Bank of Japan will support the Montenegrin Government in presenting all its investment potentials, said Masao Masuda, Managing Executive Director of the Bank’s Corporate Finance Department, during the meeting.

Investments in the energy sector are particularly appealing for Japan.

In Japan, we no longer have space for new hydropower plants, so several Japanese companies are interested in developing such projects abroad, provided that they adhere to the highest environmental standards, highlighted Masuda.

It was concluded that Prime Minister Spajić’s planned visit to Japan later this year will serve as an opportunity to further introduce Japanese businesses to Montenegro’s developmental potential.