Nina Drakić, President of the Chamber of Commerce of Montenegro - Investors are looking for clear "rules of the game", consistent application of regulations and open dialogue between the state and the economy

She also emphasizes that security and political stability are of crucial importance for attracting foreign investments, especially those aimed at long-term development and the creation of greater added value. In this light, the Chamber of Commerce has a key role in representing and protecting the interests of the entire business community, and that through active participation in the creation of the legislative and regulatory framework, it works to remove business barriers and improve the business environment.

- The business environment in Montenegro in 2025 is characterized by slight shifts in the direction of stabilization, but still pronounced challenges that limit the economy`s full potential. According to the most recent survey by the Chamber of Commerce of Montenegro, the overall assessment of the business environment recorded a slight improvement from 2.37 to 2.47 (on a scale of 1 to 5), which stopped the negative trend from previous years. Although this is a positive signal, the rating level still does not reach the threshold of satisfactory business environment (rating 3), which confirms that key obstacles have not been overcome.

Access to finance has been the worst-rated area of ​​the business environment for years. Limited access to capital, especially for micro, small and medium-sized enterprises and startups, significantly hampers investment, growth and technological progress. This indicates the need for further strengthening of financial instruments of support, including the Guarantee Fund, Development Bank and other mechanisms that would enable more accessible and favorable sources of financing.

Businessmen identify the shadow economy, lack of qualified labor and high fiscal and parafiscal levies as key barriers. For the first time, the five biggest barriers included inadequate legal solutions and their inconsistent application in practice. This indicates that decisions that affect the business environment are often not the result of appropriate consultations with the business community and joint definition of transition periods, as well as insufficient efficiency of administration.

Although there are institutional mechanisms for consultation, in practice the views of the economy are often not sufficiently taken into account, nor are the effects of regulations on the competitiveness and sustainability of business always taken into account. This is precisely why the Chamber of Commerce continuously insists on strengthening the mechanisms of transparent and predictable decision-making, which is a prerequisite for creating a stable and attractive business environment.

- Investors are only looking for clear "rules of the game", consistent application of regulations and open dialogue between the state and the economy. That is why it is important that Montenegro, in addition to reforms that will improve the business environment, devises and develops support mechanisms that will attract investors precisely to the sectors with the greatest development potential.

The smart specialization strategy, which was adopted in 2019 and is currently being worked on a new one, defines the sectors with the greatest potential, namely sustainable and green energy, sustainable and health tourism, organic and traditional food production and ICT as a horizontal basis that supports all other areas through digitization and technological development. This model deserves further attention and expansion to other areas with potential for innovation and technological progress. Concretely, it is necessary to go in the direction of diversifying the economy in order to raise the production sector, that is, the industry sector to a higher level and thus create the possibility for the substitution of part of imported products.

- Official data for the six months of this year show a decline in net FDI compared to the same period last year. At the same time, their structure clearly shows that the share of investments in real estate is increasing year by year, with a simultaneous decrease in investments in companies and banks, which reflects the perception of foreign investors that the market is not predictable enough, nor competitive enough to invest capital in sectors that carry long-term sustainability and development.

In order to attract productive investments, we must work on everything that has already been highlighted in the previous answers. In short, it is necessary to ensure political stability, improve the business environment through an intensive dialogue with the business community, adopt a long-term development strategy and direct support measures to the sectors with the greatest potential.

This year, the Ministry of Regional Investment Development and Cooperation with Non-Governmental Organizations is implementing the Investment Support Program, which aims to encourage investment activities and strengthen the MSME sector through subsidizing the purchase of equipment, infrastructure improvement and other types of support.

A particularly important role is played by the Program for Improving the Competitiveness of the Economy, which is implemented by the Ministry of Economic Development, and includes various lines of support, from digitalization and modernization of production processes, through internationalization of business and support for innovation, to the empowerment of female entrepreneurship and green initiatives.

However, bearing in mind the complex challenges faced by MSMEs, it is important that support programs are continuously adapted to the needs of the economy, that they are easy to use and accessible to as many companies as possible. Informing entrepreneurs about existing opportunities remains a key prerequisite for their wider use, and the Chamber of Commerce of Montenegro will continue to play an active role in that process through education, counseling and promotion of available sources of support.

- The Montenegrin Chamber of Commerce plays a key role in representing and protecting the interests of the entire business community. Through active participation in the creation of the legislative and regulatory framework, the Chamber is working to remove business barriers and improve the business environment. This role entails constant communication with competent institutions, giving concrete proposals and comments on regulations, but also analytical initiatives that raise important topics for the economy.

Through the organization of joint performances of Montenegrin companies at international fairs, the Chamber provides support for the internationalization of business. Also, through business forums and bilateral meetings, it is possible to connect domestic and foreign businessmen directly, which opens new opportunities for export, partnerships and investment. Through meetings with interested companies from abroad, as well as through intensive communication with diplomatic and consular missions and business associations from other countries, the Chamber actively promotes the Montenegrin economy and investment potential.

Also, the focus of the Chamber`s activities are campaigns and initiatives aimed at increasing awareness of the importance of domestic production. One of them is the prize game "Buy ours", whose goal is to support local producers and motivate citizens to choose local products. Another important campaign is "Strength is in all of us", through which the Chamber promotes the potential of domestic business, the quality of domestic products and the importance of the economy for the sustainable development of the country.

An important aspect of the work of the Chamber is related to informing companies about national and local support programs, as well as European and those provided by international donors. On the website of the Chamber, at meetings of Chamber bodies, events and workshops, businessmen regularly receive information about current tenders and available financial and non-financial instruments. In cooperation with competent institutions and partners, presentations of support programs intended for micro, small and medium-sized enterprises are regularly organized, which enables businessmen to recognize and use available support instruments in a timely manner.

A large number of EU projects implemented by the Chamber focus on improving the business environment and supporting micro, small and medium-sized enterprises. Through these projects, numerous companies had the opportunity to participate and achieve concrete benefits, either through education, promotion, networking or grants within the framework of partnership initiatives.

- The Chamber of Commerce of Montenegro is a partner to the institutions of the system, open to dialogue and ready to contribute to shaping solutions that are in the interest of the economy and society as a whole. In accordance with its legal role and public powers, the Chamber represents the voice of the business community and participates in drafting laws and strategic documents, in working groups, public hearings and consultative processes. Through regular initiatives and proposals, but also through direct communication with competent authorities, the Chamber strives to ensure that decisions affecting the economic system are made based on arguments, analyzes and dialogue with the real sector.

However, there are still cases in which consultative processes were not carried out with sufficient quality, nor were the views of the economy respected to the extent that they should be. One such example is the increase in the VAT rate for services in the hospitality industry, which was implemented without an adequate prior analysis of the effects on the sector and without sufficient consultation with the economy. The first negative effects of this measure are already visible, especially in the segment of competitiveness and sustainability of business during the tourist season. We believe that the authorities will reconsider this decision in the future, taking into account the arguments and suggestions of the business community.

It is important to carry out administrative reforms that will improve the efficiency of public administration and speed up procedures. Companies continue to face bureaucratic barriers, complicated procedures and overlapping jurisdictions, which increase operating costs and discourage investors. Digitization of procedures, strengthening of institutions` capacities and better inter-institutional coordination would contribute to faster decision-making, greater transparency, reduction of informal practices and the creation of a more reliable institutional framework.

The reform of the educational system and its better alignment with the needs of the labor market is crucial for providing a qualified workforce. It is necessary to systematically strengthen the quality of formal education, to improve vocational and lifelong learning programs, as well as to strengthen the cooperation mechanisms between educational institutions and employers. It is only through the development of competencies that meet modern business challenges that it is possible to create staff that encourages growth and innovation.

Montenegro must additionally strengthen institutions dealing with investor support, as well as develop a more proactive approach in attracting investments. This implies not only the promotion of potential, but also specific support programs, from subsidies and benefits to mentoring and advisory assistance.