Previous Next

Press Conference White Book: Investment climate in Montenegro 2016-2017

The Montenegrin Foreign Investors Council on March 28th organized the Press Conference with the purpose to present to stakeholders the eight edition of the White Book: Investment climate in Montenegro 2016-2017.

This publication is a key document produced by the Council, in which foreign investors evaluate the business environment based on their personal perception and point out to the challenges they are facing in Montenegro.

The key speakers at the presentation were Mr. Christoph Schoen, the MFIC President and Chairman of the MFIC Board of Directors (CEO of Addiko bank), Mr. Pal Kovacs, Member of the MFIC Board of Directors (CEO of CKB bank) and Mrs. Marija Šuković, the MFIC Executive Director.  

During the presentation, it was stated that the years 2016 and 2017 indicated a period of stability “with the slight increase of ease of doing business index”, what gives reasons to be optimistic in terms of economic development direction, but also in terms of the room for further improvements in relevant business area that keep stagnating in previous period.

The White Book presents the MFIC Index, the evaluation of simplicity and effectiveness of doing business in Montenegro, based on the experiences of the MFIC members. The MFIC Index for 2016 amounts to 6.35 and the MFIC Index for 2017 was 6.47, at the scale of 1 to 10 (where 1 is the lowest score). When evaluating the environment, the ease of performing daily operations and difficulties faced by the investors due to general business climate and regulatory environment were taken into account.

The 2016 rating indicates stability, especially when compared to 2013 and 2014 and slight increase in comparison to 2015, when the rating was 6.2. The 2017 Index is the highest since this kind of evaluation has been introduced. 

Telecommunications and ICT have the highest score among all sectors (6.86 for 2016 and 7.14 for 2017) followed by banking/finance sector (score 7 both in 2016 and 2017), tourism and production/energy.    

In addition to the areas traditionally evaluated since 2011 such as labor market and employment, property development, taxation/contributions, corporate governance, rule of law, the eight edition of the White Book includes several new categories – important areas that should be in the focus of the public institutions: grey market and inspection, regulations on public and private partnership, public procurement, digitalization of public services, regulations on personal data protection, human resources. The scores for those categories are relatively low, what should be a signal for the Government to include them in their Work Program for 2018 to be reformed in accordance with the best international standards and practice. The Council is ready to support the Government in its efforts to improve the business climate.   

By publishing the eight edition of the White Book, the MFIC celebrates its ninth anniversary as a non-governmental and non-profit organization that represents and expresses the opinions of its members for promotion of joint interests and for stimulation of foreign direct investments, and for improvement of communication and cooperation with the official bodies in Montenegro.