NaslovnicaEnglish NewsBusiness NewsProgress seen in foreign investments and free trade

Progress seen in foreign investments and free trade

Geneva, Podgorica, (MINA-BUSINESS) – The President of Montenegro, Milo Djukanovic, has said in Geneva that Montenegro will be working on the development of a climate conducive to thriving of foreign investments and free trade, while fulfilling its sustainable development goals.

“Our only course of action will focus on developing the environment in which foreign investments and free trade can thrive. Everything else would not be responsible enough towards our citizens and future generations,” Djukanovic said at the Global Leaders Investment Summit held during the UNCTAD World Investment Forum, dedicated to investments in a new era of globalization.

According to a press release issued by the President’s Information Service, Djukanovic said that the globalization phenomena could no longer be interpreted on the basis of a traditional mindset, as many of the old paradigms have lost their grounds in reality.

He said that the market economy did not divide countries into large or small but into successful and unsuccessful.

Djukanovic argued that successful economies created conditions for a faster economic growth and development by strengthening their institutions.

He believes that further shaping of the rules according to which international institutions will be functioning is the main challenge of globalization.

“The opponents of globalization are concerned that the benefits coming from trade and investments are not equal for everybody. However, this logic leads to the closing of certain economies and introduction of protectionism. Therefore, we must not pander to such policies, as they could interfere with global investment flows if they grow stronger,” said Djukanovic.

He underlined that Montenegro remained strongly committed to maintaining multiculturalism, observing the rules and strengthening transparency, in line with principles of the World Trade Organization (WTO), which was of particular importance for the attraction of foreign investments.

“Montenegro is building a transparent system, attracting more foreign investors every year. They include the so-called global players, who have found not only challenges for their projects in a small economy, but also safety, stability and clear rules,” said Djukanovic, adding that these investors have become the promoters of Montenegro as a prestigious investment destination.

He reminded that Southeast Europe had attracted €5.5 billion in foreign direct investments in 2017, up 20 percent year-on-year, adding that Montenegro had seen a 30 percent growth in the same period.

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