The program of economic citizenship will include 2,000 investors and Montenegro will generate over €1bn in the next 3 years, Armand Arton, the president and CEO of Arton Capital, told in an interview with Montenegro’s public broadcaster, TVCG. He has been developing the program of economic citizenship for 15 years and said that “Montenegro can become Davos in the Balkans”, as “the smaller the country, the more positive impact of the program of economic citizenship is on the country’s economy.”
The program has been set up for 2,000 investors who will bring more than a billion euro to Montenegro. “Foreign investments will double and would amount to 20% of the last year’s GDP. Montenegro is a country with great potential for business,” said CEO of Arton Capital.
“Interested investors will be able to invest EUR 250,000 in some of the developing projects in an underdeveloped area, or EUR 450,000 in a developed region, if previously approved by the government. A EUR 100,000 fee per request will be charged and directly transferred to the special fund for underdeveloped areas,” the Government of Montenegro earlier reported.
Arton assessed that this would be a great opportunity for development of north Montenegro and recruitment of young people from this party of the country.
In order to attract new investments, the north of Montenegro needs to upgrade its infrastructure, according to him.
