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€165 million of Turkish investments in Montenegro

Starting from 2007, up until last year, Turkish have invested in Montenegro a total of €165.300.904, reports the Montenegrin Investment Promotion Agency (MIPA).

FDI inflow from Turkey is constantly growing. Last year it amounted €53 million.

As representatives of MIPA said, there are currently 2.162 companies founded by the investors from Turkey. The greatest number of them is constructing residential and non-residential buildings, providing consultant services, is engaged in retail and wholesale trade and hospitality.

“Turkish enterprises show special interest in sectors of tourism, agriculture, energy, infrastructure and banking, as well as using the port in Bar for the creation of production capacities in the free zone, i.e. transfer of goods from Turkey and distribution towards countries of the region”, said the representatives of the Agency.

Considering the fact that Turkey is the eighth country in the world by furniture manufacturing and the first in Europe by production of plastic panels, economic cooperation in the area of wood processing between Montenegro and Turkey could intensify.

“Many people from Turkey are considered credible investors but they lack capacities. On the other side, there are huge potential and credible companies which are constantly expressing their interest in carrying out capital projects. Some companies are big players at global level and they even surpass many European giants”, said the representatives of the Agency.

Companies from Turkey appreciate the fact that Montenegro is the leader in economic development in Balkans and the first candidate for the EU. Besides, it used euro as its currency and is NATO member.

Investment wave from Turkey “boomed” last year when representation offices of many Turkish companies were opened in Montenegro.

 

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