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Montenegro’s Business Climate Faces Challenges, Reveals White Book

The Montenegrin Foreign Investors Council has released its annual "White Book," offering a detailed analysis of the investment climate in Montenegro for 2023

The Montenegrin Foreign Investors Council (MFIC) has released the thirteenth edition of the “White Book – Investment Climate in Montenegro 2023,” detailing the challenges of doing business in the country. 

The publication, which draws on contributions from 43 MFIC members representing over 30% of Montenegro’s GDP, highlights a continuing decline in the ease of doing business across various sectors, except for some improvement in the banking sector.

President of the MFIC, Tamás Kamarási, noted that despite using an enhanced methodology for data collection and analysis, the ease of doing business index fell for a second consecutive year, now standing at 6.4. The detailed report underscores particular struggles in tourism, trade, and manufacturing, with respective indices of 6.7, 6.6, and 5.5.

However, Kamarási remains optimistic, citing ongoing dialogues with government decision-makers that could herald improvements in the 2024 edition of the White Book. In response, the Minister of Finance, Novica Vuković, assured that the government would closely review the MFIC’s recommendations to foster a more attractive business environment and promote sustainable economic models.

This latest White Book not only tracks sector-specific business challenges but also for the first time, evaluates particular indexes affecting business operations, identifying key areas for development and assessing the level of investor involvement in the legislative process. The findings are poised to influence governmental strategies aimed at enhancing Montenegro’s economic landscape.

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