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Foreign investors are looking to expand their businesses to the north

Since 2006 and the restoration of independence, Montenegro has invested over 2 billion euro in the development of infrastructure in the north of the country, the government told Pobjeda daily.

Representatives of the govt note that they remain committed to an even regional development, primarily focusing on the north. They are also sure that better days are coming for the northern region having in mind the arrivals, the number of investments and the implementation of certain projects in almost all town of this region.

“Since the restoration of independence, over 1.2 billion euro of state money has been invested in the development of infrastructure of the north, i.e. about 606 million euro through the Public Works Administration and about 620 million euro through the Transport Administration. This does not refer to the motorway, so the total value of state investments into the infrastructure exceeds 2 billion euro”, the govt said.

Representatives of the executive power state that a third of this sum, excluding the motorway, has been invested during the mandate of this govt.

“It’s about projects worth over 400 million euro,“ they explained.

The existing capital budget, according to them, being the precondition of infrastructure development, has never been larger when it comes to this region of the country.

“The implementation of infrastructure projects remains our top priority, while the benefits of better traffic and other infrastructure have already been visible both to those who are traveling to the north and those living there,“ the govt said.

This all, they added, is backed by considerable amount of funds from the Investment and Development Fund, IRF, the Ministry of Agriculture and Rural Development, as well as the other departments of the govt.

Montenegro is a large construction site, while the state itself represents one of the greatest investors in the north, which, according to the govt, tells enough about its commitment.

“Our partners – foreign investors – recognized such approach, and they are even more interested to expand their businesses (investments) from the south to the north of the country.“

They also consider that the main development project of the north and the entire country is the construction of the motorway, as the mega infrastructure project not only here, in Montenegro, but in this part of Europe as well.

Two-thirds of the Public Works Administration’s budget earmarked for the north

Govt’s representatives also said: “Of the total number of projects implemented by the Public Works Administration in the period from 2006 to 2019, as much as 61 percent of funds were spent on projects in the north, while 39 per cent on projects in the central and southern region.”

They added that according to their data, out of the total realized projects in 2011, 25 per cent of them were in the north, while that number doubled and reached 55 per cent of the total realized funds in 2016.

New investments in road infrastructure of the north

They stated that, among other things, it’s expected that works on the road Rožaje – Špiljani worth 19.2 million euro would start soon, as well as the reconstruction of the road Pljevlja – Mihajlovica worth 7.5 million euro. For these two projects, the tender procedure has already been completed and contracts have been concluded.

 

 

 

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