Montenegro Records Impressive EUR 5,5 B in Foreign Investment

World » SOUTHEAST EUROPE | April 6, 2015, Monday // 15:19
Bulgaria: Montenegro Records Impressive EUR 5,5 B in Foreign Investment Photo:

''Montenegro is the leader in the region in terms of foreign investment,'' stated the Director of the country's Stage Agency fro Economic Restructuring and Foreign Investments, Milos Jovanovic.

In an interview for newspaper Poslovni Dnevnik, he noted that over the past eight years the volume of foreign investments in Montenegro has reached as high as EUR 5.5 M.

''We are expecting the arrival of three companies from Qatar, Jordan and the US pretty soon,'' he explained. '' Those are companies in the sectors of tourism, petroleum extraction and information technologies and all of them have multi-million dollar businesses.''

Jovanovic stated that in his opinion the positive business climate was largeley achieved through the 9% flat tax rate.

According to official statistical data, foreign investment in the country in 2012 amunted to merely EUR 435,6 M, while in 2013 - EUR 485,3 M.

Reportedly, the construction sector in Montenegro saw the largest increase in terms of investment. In 2012 Montenegro received a foreign boost of EUR 247 M and then EUR 267 M, marking an increase of 11,2%.     

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Tags: Montenegro, foreign investment, flat tax rate, Milos Jovanovic, tourism, construction, petroleum extraction

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