In line with regular procedure, in the first part of the Assembly President of the Council Christoph Schoen and Executive Director Ivan Radulovic presented Council’s activities in the previous period, financial report, membership status and planned activities for upcoming period.
In addressing the ministers, members and the public, President of the Council, Christoph Schoen, has highlighted that the Council comprises 43 members and its work has been guided throughout the years, from foundation in 2009 up till today, by the same valid set of principles – consistency, transparency, equality and predictability. These values are today more important than ever.
He also stated that we are facing enormous challenges ahead of us, challenges directly triggered by the worldwide pandemic crises and challenges, which already existed before and which sharpened during this year. We are very well aware of the economic and socio political impacts and we are equally aware of the magnitude and the variety of tasks the new Government is managing. I therefore use the opportunity to reinforce our commitment for active and professional support and cooperation to the Government and the administration in the upcoming period.
Schoen has highlighted that Montenegrin Foreign Investors’ Council considers Montenegro an attractive investment destination and its members intend to continue expanding their operations and making new investments in a number of sectors.
In this context, I would like to mention the formal cooperation through the participation in governmental working bodies, which proved to be a helpful platform to address and monitor our recommendations which represent best international practices and standards.
Having said that, I would like to express the gratitude of the Council to everyone supporting our efforts in the past, within the Council and from outside, and to send out an invitation to the new Government to engage and include the resources and experiences of the international business community in Montenegro, concluded Schoen.
Minister for Capital Investments, Mladen Bojanic addressing MFIC members during Annual Assembly 2020 stated that all domestic and foreign investors will have full institutional support from the Government.
“We will be your partner and protector of your businesses, in order to make this space even more attractive for foreign and domestic investors,” said Bojanic.
He assessed that investors, when it comes to Montenegro, in the previous period faced problems in the area of the rule of law and the fight against corruption.
“Every regular investor who comes to Montenegro with the desire to invest with the right demands the full rule of law and wants us to ensure healthy competition by minimizing, if not completely eradicating, corruption,” said Bojanic.
He announced that a special department for the fight against corruption will be formed within the Ministry, to which investors will also be able to turn. Investors rightly expect the efficiency of the entire state administration. “It is one of our priorities that we will pursue. Also, I am sure that the problem with the unpredictability of tax, customs and overall fiscal policy has been your problem so far.”
He also stated that the spatial plans and technical permits related to the construction were long overdue, which affected the slowdown of the works of certain investors or forced them to withdraw. Ministry believes that the largest capital investments for Montenegro are needed in road infrastructure and energy sectors.
“It is something that should start the Montenegrin economy, that is, conditionally speaking, public works. It certainly opens space for small and medium-sized businesses, which at this moment, however, can hardly be a generator of development, if we have problems in infrastructure matters,” Bojanic concluded.
MFIC Annual Assembly was also attended by the Ministers of Finance and Social Welfare and Economic Development, Milojko Spajić and Jakov Milatović.
In accordance with our Statute, the election process for President and members of BoD was organized. The new one-year composition of the Board of Directors is as follows: Mrs. Nela Vitic (Executive Director of Ocean Montenegro), Mr. Pal Kovacs (CEO of CKB), Mr. David Margason (CEO of Porto Montenegro) and Mr. Ivan Bojanovic (CEO of Saga Montenegro). Mr. Christoph Schoen, CEO of Addiko Bank is re-elected for the position of the President of the Council and President of BoD.
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Montenegrin Foreign Investors’ Council is an association of leading foreign investors doing business in Montenegro. It is a non-governmental and non-profit organization, established in 2009, with the aim to help improve investment climate and support business development in Montenegro.
The Council represents and expresses common interests of its members with the goal to further stimulate direct foreign investment in Montenegro and to facilitate communication and cooperation between the investors and official authorities of the state. It is also the best platform for sharing relevant information and align interests of various private owned industries in the country.
