25.10.2017

 

Director of Montenegrin Investment Promotion Agency has participated in a interactive panel ,,Montenegrin economy and energy sector'' within the Gateway to the Balkans forum, organized by the Ministry of Foreign Affairs of Montenegro and a honorary consul of Montenegro to Israel, Mr. Nimrod Rinot, with aim of improving the economic relations between Montenegro and Israel. At the opening of the panel, a Minister of Economy, Ms. Sekulic, has emphasized the same conditions of investing in the energy sector in Montenegro as in all the other member states of the EU.

,,Montenegro is a member of the Energy Community, and at the same time it is a candidate for joining the European Union. We also conduct negotiations within the chapter Energy, which was opened in December 2015 and we are currently in the process of its closure.  This means that all directives are transposed into national legislation and now, Montenegro is implementing the third energy package of measures through its laws, and all laws and bylaws are in line with EU rules in the field of energy'', she noted. ,,The most important project at the moment is'', she added, ,,the construction of an undersea energy cable between Montenegro and Italy, along with its infrastructure within the state connecting north and south with a 400kV transmission line''.

She also recalled that Montenegro has begun exploring oil and gas in its submarine, and the Government has so far signed two contracts for the award of concessions, and announced the possible signing of new contracts with a new tender procedure that will be launched in the future.

State Secretary at Ministry of Economy, Mr. Nikola Vujovic, said that the Government of Montenegro in the field of energy identified priorities that are similar to the priorities of the countries of the European Union, such as: security of energy supply, development of a competitive energy market and sustainable energy development.

,,Montenegro is offering a huge opportunity to invest in the energy sector in the field of hydro power, thermal energy, wind, solar and biomass energy", Vujovic said.

Vice President of the Montenegrin Chamber of Economy, Mr. Ivan Saveljić, said that Montenegro has a good business environment that is constantly improving. "We are developing mostly in the tourism sector, and then in the field of energy, where Montenegro has significant potential. We hope that we will have an investment in the field of agriculture. Montenegro is a small country, but through a whole series of associations, regulations and contracts is part of a larger, regional framework", Saveljić said, adding that Montenegro is a good starting point for investment and for the entire region.

Director of the Montenegrin Investment Promotion Agency, Mr. Milos Jovanovic, said that there are many reasons for investing in Montenegro. "The three pillars of promotion are tourism, agriculture and the energy sector. Agriculture is still an underdeveloped sector, and Montenegro has significant potential, especially for the production of organic food, wood processing, fishery, water production. There is an interesting link between agriculture and tourism - we are still a country that is being built as a tourism destination but imports organic food, although it has a great potential to produce it ourselves", Jovanovic noted.