Secure Investments, Strong State

Existing regulations, including the Law on Foreign Investments, regulate numerous issues important for foreign investors, but do not allow for a systematic assessment of potential risks in strategically sensitive areas. This is a shortcoming we want to eliminate. Montenegro aims for more and higher-quality investments, investors who will create new jobs, bring new technologies, develop production, increase productivity, and contribute to long-term economic development. At the same time, investors will be provided with what is most important for serious business: predictability. The Ministry of Economic Development will be the central authority responsible for implementing the verification process and the national contact point for cooperation with the European Commission and EU member states. We also plan to establish the Foreign Investment Verification Council as an inter-institutional expert and coordination body. Its work would include representatives from institutions responsible for the economy, internal affairs, defense, foreign affairs, finance, competition protection, electronic communications, transport, energy, and national security, as well as other institutions when required by the nature of the specific investment. The final decision would be made by the Government of Montenegro, based on the proposal of the Ministry of Economic Development and prior opinion of the Council. The proposed system would apply to investors from third countries, as well as investments made by companies established in Montenegro or the European Union if they are directly or indirectly controlled by investors from third countries. This allows for timely identification of transactions that may have strategic significance. Particular attention will be paid to sectors of strategic importance: energy, transport and digital infrastructure, electronic communications, cybersecurity, healthcare, financial infrastructure, defense industry, sensitive technologies, strategic resources, and critical raw materials, as well as other areas of special importance for the state. The proposed procedure would be based on prior approval. Investors would submit data on ownership structure, ultimate beneficial owner, business activities, transaction value, source of funding, and planned effects of the investment to the Ministry of Economic Development. After receiving complete documentation, a period of 45 calendar days is planned for an initial review.