Information on the Montenegro’s Investment Incentives Inventory

The Ministry of Economic Development and Tourism, in cooperation with the World Bank Group (IFC) and state institutions (Ministries, UPCCG, MIA, Eco-Fund, Chamber of Commerce, etc.), have finished the update of Investment Incentives Inventory for 2022 with a comprehensive review of available financial and non-financial support programs for the private sector as well as domestic and foreign investors for 2022, by the Government of Montenegro.

The purpose of creating the Investment Incentives Inventory was recognized in the Action Plan of the Regional Investment Reform Agenda (RIRA), which is implemented within the multi-annual Action Plan for the Regional Economic Area in the Western Balkans (MAP REA). Aim of the Regional Investment Reform Agenda is to improve the attractiveness of the Western Balkans region for foreign but also for regional investors, which would enable a higher inflow of investments and achieve a higher level of entrepreneurship, trade and job creation.

Today it is a part of the Common Regional Market (CRM) 2021-2024. The Common Regional Market WB6 CRM (2021-2024) continues the results of the Multi-Annual Regional Economic Area Action Plan (MAP REA 2017-2020) and aims to connect the economies of the Western Balkans through the free movement of people, goods, services and capital and thus encourage creating regional digital, industrial, investment and innovation links. The goal is to create a regional market based on EU rules and procedures and bring the Western Balkans closer to the European single market.

The Investment Incentives Inventory is a publicly available database of investment incentives at the national level provided by state authorities to domestic and foreign investors in various sectors.

In 2021 the inventory contained data on 40 incentive measures that are available to domestic and foreign investors through various support programs intended for the private sector, and which were created and implemented by the competent ministries. The Investment Incentives Inventory was created with the aim of providing comprehensive information on the content, scope, purpose, characteristics and benefits of incentives, as well as information on conditions, norms, rules and procedures that are implemented in order to achieve investment incentives.

In order to provide long-term benefits of using the data available in the inventory, the Ministry of Economic Development and Tourism, in coordination with line ministries and partner institutions, will regularly update the inventory so that potential investors have precise and complete information in real time, which would further encourage investment activity in Montenegro.

Prompt updating of the Investment Incentives Inventory will contribute to improving the transparency of available incentives and it will provide better access to the use of available support programs, as well as conditions for quality evaluation and monitoring of the implementation of incentives.

Ministry of Economic Development and Tourism have realized the update of the 2022 Investment Incentives Inventory which now have 51 investment incentives. These investment incentives have different area of scope, ranging from financial and non-financial to fiscal incentives. These also include tax and customs incentives, excise taxes incentives and fees, incentives in agriculture, science, tourism and services, construction, sustainable and economic development subsidies, and also renewable and hybrid energy incentives. As mentioned, 2022 Inventory includes vast range of investment incentives given by state and public institutions, as well as the incentives given by the line ministries.

The Ministry of Economic Development and Tourism of Montenegro will continue cooperation with World Bank Group (IFC – International Finance Corporation) regarding this subject and provide regular annual debriefs/reports about the progress and results of the Montenegro’s Investment Incentives Inventory.

Data given in the Investment Incentives Inventory for 2022 is primarily meant for foreign and domestic investors, general public, partner countries, interest groups, media, third parties, etc. and its documents (data base and presentation) can be downloaded on the official web sites of the Ministry of Economic Development and Tourism (https://www.gov.me/mek) and Montenegro’s Investment Agency (https://mia.gov.me/).

Montenegro’s Investment Incentives Inventory

https://www.gov.me/dokumenta/c9520a35-b181-43c7-af1b-820e1a68385e

https://www.gov.me/dokumenta/b20d52d6-ebd1-4e22-a425-52257536bf4c