Podgorica, (MINA-BUSINESS) – According to the American Chamber of Commerce in Montenegro (AmCham), the adoption of the Law on Strategic Investments is an important step toward creating a more favourable investment environment, showing a clear intent to recognize and support projects that have the potential to transform the economy.

“We see the Law on Strategic Investments as an indicator that Montenegro recognizes the need to create conditions to become an investment destination, but also acknowledges that processes in public administration are inefficient,” AmCham Montenegro told the Mina-business agency.

AmCham stated that, in addition to introducing the concept and status of strategic investments, one of the key innovations of the law was the acceleration of administrative procedures by competent authorities necessary for the investments that were granted this status in accordance with the law.

“Additionally, the law provides that both the state and private investors can identify and propose strategic investments, which we consider a positive approach,” AmCham Montenegro added.

They also noted that in a dynamic global environment, a country’s ability to attract significant investments often depended on its legislative framework and the efficiency of its administrative processes.

The Ministry of Finance recently opened public consultations on the Draft Law on Strategic Investments, which will last until the end of the year.