The Government of Montenegro has established an intergovernmental agreement with the United Arab Emirates (UAE), Prime Minister Milojko Spajić announced.
He stated that the agreement will enable the development of two major tourism projects - one in the south, one in the north of the country.
"The government has just finalized an intergovernmental agreement with the UAE that will enable the development of two major tourism projects - one in the south, one in the north of our country. The specific location is still open for consideration - let the best win," Spajić wrote in a post on Iks.
The Government officially announced that the executive branch, at a telephone session held today, established the Proposal for the Basis for Negotiations and the Conclusion of an Agreement on Cooperation in the Field of Tourism and Real Estate Development between the Government of Montenegro and the Government of the United Arab Emirates (UAE).
It is stated that this document will establish a legal framework for the continued improvement of economic cooperation in the field of tourism, "with a focus on projects in the south and north of Montenegro."
"The agreement defines the development of the project in the south of Montenegro and the ski resort in the north of the country, as an integrated development of tourism and mixed-use real estate. Based on jointly identified projects of strategic importance and public interest for the economic development of both countries, the UAE Government proposes and guarantees that investors based in the United Arab Emirates and private sector entities cooperate with the Government of Montenegro, with the aim of full feasibility and implementation of the projects," the statement reads.
It was announced that the Agreement also provides for the establishment of a Joint Commission whose task will be to monitor the implementation of projects.
"The document is concluded for a period of five years and will be automatically renewed for successive periods of five years, until one of the parties decides to terminate it," it added.
The Government said that, with mutual consent, the two sides can amend and amend the Agreement in the form of special protocols, "which will form an integral part of this agreement."
"As a reminder, on March 21, 2025, the Government established the Proposal for the Basis for Negotiations and Conclusion of an Agreement between the Government of Montenegro and the Government of the United Arab Emirates on Economic Cooperation, and accepted the text of the Agreement. This document establishes a legal framework for the continued improvement of economic cooperation in areas defined as mutually beneficial, including, but not limited to: telecommunications, cooperation in the field of aviation, investments and investment promotion, infrastructure, construction, trade in goods and services, tourism, small and medium-sized enterprises, agriculture, e-government and other areas of economic, technical and trade cooperation that will be mutually agreed upon," the statement reads.
Earlier today, Spajić held meetings with the presidents of southern and northern municipalities, at which it was presented that the Government had adopted a Framework Agreement on Economic Cooperation with the UAE.
Municipal leaders have been invited to submit proposals for potential ideas and development projects, which could be presented to the Emirati authorities during the Prime Minister's official visit to the country, the government said.
"At today's session, a platform was established for the travel of the Prime Minister and the delegation to conduct negotiations and conclude an Agreement between the Government of Montenegro and the Government of the UAE on Economic Cooperation," the statement reads.
The statement states that the Government, at the proposal of the Ministry of Spatial Planning, Urbanism and State Property, adopted a Decision appointing Bajko Vučićević as Acting Assistant Director of the State Property Administration.
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