Companies from Azerbaijan, China, and Russia are the largest investors in Montenegro. Azerbaijan still ranks first in terms of the volume of investments in the country. However, the Central Bank does not disclose either the figure or the investors from this country because, as they explain, that would encroach on business confidentiality.
The largest Azerbaijani investment is linked to the construction and management of the Porto Novi resort (Porto Novi) nearHerceg Novi, in which around 700 million euros have been invested so far. The main investor in the project is Azerbaijan’s state oil company SOCAR.
Chinese companies are in second place, with investments in our country amounting to almost 71 million euros. It should be recalled that the Chinese had previously pushed Russians out of this position, leaving them in second place. Russians are now in third place with investments of 54 million euros, having displaced Italian investors, who held this position until recently.
“Following them are investors from Switzerland with 48.3 million euros, Italy – 44 million, the United States – 24.5 million, the United Arab Emirates – 24.1 million euros, Germany – 22 million, Serbia – 18.7 million euros, and the Netherlands – 17.4 million euros.” This was reported by the Central Bank, noting that these are preliminary data.
Among the “smaller” investments in the country are companies from Turkey with 12.7 million, the United Kingdom – 11 million, Estonia – almost 10 million, Austria – 9 million, and Slovenia – more than 8 million.
Inflows into real estate amounted to 85.5 million euros, which is also 40.9 percent less. This year, according to the Central Bank, real estate was mainly purchased by Russians – 18 million in total, followed by Americans – 9.4 million, Germans – 9.3 million, Serbs – 8.3 million, and Swiss – 6.8 million euros.
When asked what kind of investor attitude they expect next year, given the COVID-19 pandemic and the change of government in Montenegro, the Central Bank replied that the country will remain an attractive destination for investment in the new year.