Memorandum on Cooperation signed between the Montenegrin Investment Promotion Agency (MIPA) and the Montenegrin Foreign Investors’ Council (MFIC)

Mr Miloš Jovanović, Head of the Montenegrin Investment Promotion Agency (MIPA), and Mr Miroslav Hiršl, President of the Montenegrin Foreign Investors’ Council (MFIC) and CEO of Societe Generale banka Montenegro, have signed a Memorandum on Cooperation. This Memorandum defines the elements of cooperation which detail the common goal of stability and growth of the Montenegrin economy, with the support of foreign direct investment (FDI). Synergetic actions in several areas are agreed. Cooperation between the signatories to the Memorandum should ensure and encourage the implementation of joint projects where public and private sectors pool their resources and knowledge in order to contribute to the investment environment in Montenegro.

One of the points in the Memorandum relates to cooperation in analysing the impact of existing Montenegrin legislation on the business environment in the country and in giving new proposals to create a better legal framework, which will make Montenegro a more attractive destination for foreign investment, as well as in making joint efforts to remove remaining barriers in business. The Government is constantly working to reduce the obstacles to business, and foreign investors are contributing to this goal with their concrete proposals.

“Foreign investors that have implemented projects in Montenegro are one of the best channels to bring new, credible investors to our country. Potential investors, naturally, get in touch with present investors regarding their business and experience in the country. Also, knowledge transfer is one of the most important factors enabling a foreign investor to contribute to the improvement of the business environment in our country,” it was concluded by Mr Miloš Jovanović, Head of the Montenegrin Investment Promotion Agency (MIPA), and Mr Miroslav Hiršl, President of the Montenegrin Foreign Investors’ Council (MFIC).

Podgorica, 10 December 2015