Economic citizenship programme to become an investment platform

foto: Služba za informisanje Predsjednika Crne Gore

Podgorica, (MINA-BUSINESS) – The President of Montenegro, Milo Djukanovic, has said that the individual investment programme, allowing the people who invest in Montenegro to apply for Montenegrin citizenship, is expected to produce strong multiplicative effects on the economy and become an important source of revenues and an investment platform.

“With a well-planned campaign, it is possible to attract attention of the renowned businesspeople who would accept to relocate their business headquarters,” Djukanovic said at the Global Residence and Citizenship Conference organized in Dubai by Henley & Partners.

He added that this would not only boost investments, but also improve Montenegro’s image and raise business standards in the country.

According to a press release issued by his Information Service, Djukanovic said that it was in the best national interest of Montenegro to implement the programme so as to eliminate the risks its implementation might entail, relying on the experiences of other countries.

“Only the persons with proven personal and professional credibility will be eligible applicants within the framework of this programme, which will accept only the funds the legal origin of which is beyond any doubt,” said Djukanovic.

Djukanovic argued that a programme could be long-term and stable only if both parties could see clear benefits from their mutual cooperation.

“It is in the best national interest to additionally encourage development, create jobs, reduce trade deficit and boost the transfer of knowhow and new technologies,” said Djukanovic.

He said that the applicants would benefit from a favourable tax system, visa-free regime for Schengen countries and integration into economic and political system of the country.

“These new citizenships will also establish stronger bonds between good investors and Montenegro, as they will be promoting its economic potentials and interests as good ambassadors,” said Djukanovic.

He said that Montenegro had substantial resources, adding however that all of them were limited.

“Therefore, we need to use them not only for the highest economic achievements, but also to the benefit of citizens of Montenegro,” said Djukanovic.

According to him, this means that the Individual Investment Programme must allow clients to use and tap the available natural resources in a more efficient way to the benefit of the country and local community.

“This primarily applies to energy, agriculture, and tourism, the sectors that offer major development opportunities in Montenegro,” said Djukanovic.

He reminded of a record GDP growth in 2017, and the fact that the salaries and pensions had doubled since the restoration of independence 12 years ago.

Djukanovic added that Montenegro’s credit rating was increasing, while declining in the rest of the region, which was evidence that the national economic policy was well-planned.

Longer version of article is available on a link MINA ENGLISH SERVIS