Montenegro on the march

Montenegro is laying the economic groundwork for future investment success, claims DSR…

Montenegro joined the European Union's (EU) Competitiveness and Innovation Programme on Monday 05 March, 2008. Their membership will see the European Commission actively promoting innovation, entrepreneurship and growth in Montenegro's small and medium size enterprises (SME's).

The European Commissioner responsible for the EC's industry and enterprise policies Gunter Verheugen, commented: “Montenegro had affirmed its European aspirations by joining the CIP program.

“Participation in CIP, and, in particular the cooperation in the new Enterprise Europe Network, which Montenegro has already successfully entered, will help Montenegro to increase the competitiveness of its enterprises, in particular SMEs,"

Foreign buyer rules relaxed

Since it split its loose political Union from Serbia in 2006, Montenegro has joined several world institutions in its own right, including the World Bank and International Monetary Fund, the latest two are in preparation for its eventual entry into the EU.

According to the CIA World Fact Book, the privatisation of their largest industry, Aluminium, has been good for the economy, as well as increased Foreign Direct investment through tourism.  Furthermore, the government has relaxed the laws preventing foreigners from buying land in the country.

A spokesperson for David Stanley Redfern commented: “Now that foreign entities can buy actual plots of land for development, I foresee possibly a trump towers in Podgorica, maybe a Hilton, but definitely some of the major tour operators buying up land for development as tourism to the country increases as it has.

”If the global market slow continues, the developing world's most beautiful places, like Montenegro, Albania, and others will become even more popular with tourists because they offer cheaper holidays because of the low cost of living. It would be wise to invest in a property there and wait for the changes ahead”