According to the Central Bank most foreign money arrived in Montenegro from Norway (85 million), then Italy (30.8 million) and Hungary (almost 25 million euros).
Interestingly, the money hasn’t arrived from countries labeled as tax havens, with a large number of registered offshore companies, as it did in previous years.
The times are clearly changing. Instead of Russia, which used to be the first on the investments list in Montenegro, this important place now belongs to Norway. The report of the Central Bank does not specify in which areas the Norwegian invested because the data is confidential.
In the first three months of this year, Italy invested in Montenegro almost 31 million euros – mostly in domestic companies and banks (28 million), while the intercompany debt was 2.6 million euros.
Hungarian investors left 25 million euros in MNE, but details of their operations are also classified.
When it comes to Russia, which is on the fourth place in terms of investment, the most money was invested in Montenegrin real estate (9.3 million euros), intercompany debt was 2.4 million, while 200,000 euros went to domestic banks and companies.
Of the former Yugoslav republics, Slovenia is by far in the first place. In the same three months this year, the inflow of investments from this country amounted to nearly eight million, and almost all relating to intercompany debt.
Serbia in next on the list with 2.8 million invested, mostly in real estate. Investors from Bosnia and Herzegovina have invested 786,000 euros, also mainly in real estate. Kosovo contributed with 349.710 euros of investment, while there was no direct investment from Croatia and Macedonia in Montenegro in the first three months of this year.
