Montenegro is embarking on a bold new path under the leadership of Prime Minister Milojko Spajić, who announced a significant policy shift regarding how the country engages with foreign investments. From this point forward, Montenegro will enter partnership relations exclusively with investors, steering away from selling state-owned land or strategic locations.<\/p>
This strategic move was unveiled alongside the ratification of a framework agreement for cooperation between Montenegro and the United Arab Emirates (UAE). During a recent press conference, Spajić highlighted the UAE's keen interest in investing up to €30 billion through Mohamed Alabar's 'Emmar' company, specifically targeting a megaproject in Ulcinj or perhaps in the northern regions of Montenegro. While still in the early planning stage, this project promises to transform the local economy significantly.
Spajić elaborated that the envisaged project could generate annual investments of €2 to €3 billion. Once completed, Montenegro could expect to reap substantial revenue, including €500 million for the state and an additional €50 to €60 million earmarked for the Municipality of Ulcinj alone. Recognizing the magnitude of this endeavor, the Prime Minister expressed optimism, stating, "A huge project that is only at the idea level and would bring benefits to Montenegro." He assured that the entire financial process would take place transparently through intergovernmental agreements.
In efforts to encourage local participation in this ambitious megaproject, Spajić plans to invite all mayors of coastal municipalities on March 24, 2025, to discuss the potential for collaboration and what they could contribute. Furthermore, he aims to engage municipalities in the northern region, reflecting the investors' interest in diverse opportunities throughout Montenegro.
Underlining the significance of this initiative, Spajić noted the potential to develop exclusive tourist properties catering to esteemed markets in Western Europe and the United States. In this ideal vision for Ulcinj, essential infrastructural advancements would accompany the residential and commercial expansions, including parks, green areas, swimming pools, and lagoons. However, he candidly acknowledged the project remains in its infancy, stating, "We scratched the surface of the project."
Additionally, the local infrastructure improvements are expected to include a new airport designed to support increased tourist arrivals. Discussion of building plans and the required local infrastructure would be shaped by the intergovernmental agreements established with UAE officials.
Regarding potential land value and community impact, Spajić made it clear that there would be no changes to the demographic structure of any municipalities involved. Moreover, he reassured that building designs would respect the established architectural character of Ulcinj and surrounding areas. The Prime Minister emphasized the project's profitability could also aid in enhancing social services like education and healthcare.
In terms of regional development, Spajić remarked that this investment could attract further foreign interests and attention toward Montenegro, yielding benefits like renovating Ulcinj's historic Old Town, constructing the most modern hospital in the Balkans, and potentially establishing the largest marina on the Adriatic coastline. He suggested that ongoing highway projects would help facilitate this growth, with plans for initiating one of the 18 construction sections within the year.
Further collaborating with France was also on Spajić's agenda, as he revealed that the government is finalizing the procedures for an intergovernmental agreement with the nation. This cooperation could catalyze joint projects benefiting both countries; however, he remained tight-lipped about specific project details that would be introduced in future government sessions.
While investor Mohamed Alabar recently visited Montenegro, the Prime Minister did not confirm all reported details of Arab investors seeking a long-term lease of a significant coastline section known as Velika Plaza. At a government meeting in Dubai, they discussed possibilities for collaboration, yet Spajić insisted that they are still weighing feasibility hints that another North African country has also made an attractive offer. The focus remains on building long-term partnerships rather than mere temporary dealings.
When pressed about allegations from the leader of the Civic Movement URA, Dritan Abazović, who suggested the project reeks of corruption, Spajić urged caution, stating that sensational claims are baseless. He firmly stated that the backing from the UAE assures legitimacy to their plans. As for political dialogues, Spajić mentioned that the opposition had verbally agreed to engage with Barometer 26, a governmental framework designed to unify diverse political views in Montenegro.
However, he elaborated that these discussions wouldn't compromise pressing democratic values in Montenegro. In a separate issue, when queried about the appointment of a new director for the Public Company for Coastal Zone Management, Spajić referred to the necessary procedural steps before such appointments can occur, highlighting the importance of selecting well-qualified candidates.
The Prime Minister acknowledged the postponement of the tender for domestic airport concessions to May 7, 2025. Government officials from the UAE are re-engaging with Montenegro, supporting ongoing projects and spearheading some of the significant tourism-related ventures already underway, such as those linked with the Bijela Shipyard, One and Only hotels, and Porto Montenegro.
As Montenegro seeks to redefine its economic landscape, the shift towards robust partnerships with international investors marks a pivotal moment for the small Balkan state, emphasizing transparency and sustainable development that respects local traditions and communities.
