Turkey is currently a key investment partner of Montenegro, with a growing influence on development projects and the real estate market, which may have a significant effect on the country's overall economic growth in the coming period, the Turkish Chamber of Commerce in Montenegro (TurkCham Montenegro) announced.
According to preliminary data from the Central Bank of Montenegro (CBCG), the total inflow of foreign investments into Montenegro in the period from January 1 to November 30, 2025 amounted to 867 million euros, which "confirms that the country remains an attractive destination for foreign capital."
"Within this framework, Turkey has positioned itself as the largest individual investor, with total investments of 127,1 million euros, or about 15 percent of the total inflow. This puts Turkey ahead of Serbia, Germany and the United States, which are traditionally considered the most important economic partners of Montenegro," the statement reads.
The structure of Turkish investments, as TurkCham Montenegro says, shows that the focus is predominantly on development projects. "The largest part of the capital, as much as 75,3 million euros, was realized through intercompany financing, i.e. through loans and project arrangements between related companies. This indicates a long-term strategy of Turkish investors, who do not act in the short term, but build a business presence through financing and development of projects in Montenegro."
At the same time, they add, a significant amount of 46,6 million euros relates to the purchase of real estate, which "confirms that Montenegro remains extremely interesting" for Turkish capital in the areas of tourism, hospitality and housing construction.
Direct investments in domestic companies and banks amount to 5,1 million euros, which, they said, indicates that there is additional space to expand cooperation in the coming period through strategic partnerships, joint ventures and greater entry of Turkish capital into the real sector.
"It is important to emphasize that there is almost no capital withdrawal from Montenegro from Turkey, which is a signal of stability and confidence in the Montenegrin business environment," notes TurkCham Montenegro.
They also point out that economic relations between Montenegro and Turkey have been recording a strong upward trend in recent years, both through investments, trade and tourism.
"A growing number of Turkish companies are present in construction, transport, energy and services, while Montenegro is becoming recognized as a safe and promising destination for long-term investments. In conclusion, the Central Bank of Montenegro's data confirm that Turkey is currently a key investment partner of Montenegro, with a growing influence on development projects and the real estate market, which may have a significant effect on the country's overall economic growth in the coming period," the statement reads.
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