Podgorica, (MINA-BUSINESS) – According to Monstat, there were 956 foreign-owned companies in Montenegro last year.

The total turnover of foreign subsidiaries amounted to €2.83 billion last year.

The share of foreign-owned companies in Montenegro among all active companies that submitted financial statements was 2.6 percent, while their share in total added value was 14.7 percent.

The largest number of foreign subsidiaries by country comes from Serbia, with 190 companies. Next is Turkey with 100 subsidiaries, the United Kingdom with 33, and Bosnia and Herzegovina with 31.

Monstat explained that the statistics on foreign subsidiaries describe the activities of business entities resident in the reporting country – Montenegro – but are controlled by foreign business entities.

The focus is on business entities where the share of foreign capital (from one or more countries) in total capital is 50 percent or more.

The main purpose of the statistics is to show the contribution of these business entities to the domestic economy and their impact on it.