Podgorica, (MINA-BUSINESS) – In addition to tourism, the energy sector represents one of Montenegro’s greatest development opportunities, said Branko Mitrovic, Chairman of the Board of Directors of the Montenegrin Foreign Investors Council (MFIC), adding that Montenegro can also attract credible investors to food production, the wood-processing industry, ICT, and the digital economy.

“I am confident that Montenegro can attract credible investors in areas such as food production, the wood-processing industry, ICT, and the digital economy, especially if it continues to improve the business environment and consistently implement reforms,” Mitrovic said in an interview with the Mina-business agency.

He is particularly encouraged by projects in the energy sector that have already initiated a more significant energy transformation of the country, especially in the field of renewable energy sources

“We recently saw that the European Bank for Reconstruction and Development (EBRD), which is a member of MFIC, supported the implementation of the Gvozd wind farm with a loan worth €82 million. This is an important example of how serious investments and partnerships can contribute to sustainability and the strengthening of our economy,” Mitrovic said.

According to him, tourism remains a strategic sector of the Montenegrin economy, but it is clear that the focus can no longer be solely on increasing the number of tourist arrivals. Greater attention must be given to addressing long-standing challenges such as seasonality and improved air connectivity, as well as to more careful management of natural resources and the environment.

“This is precisely where I see room for a new phase in tourism development and the arrival of investments that will bring long-term value to the entire economy,” said Mitrovic, who recently assumed the position of Chairman of the MFIC Board of Directors. 

He recalled that for the past 15 years, MFIC has monitored how foreign investors perceive Montenegro’s business environment through its White Book, noting that the MFIC Ease of Doing Business Index for last year remained at 6.5.