Government: South Korean company withdraws from the concession award procedure for Montenegrin Airports

The Government of Montenegro announced today that it has received an official letter from a consortium led by the South Korean company Incheon International Airport Corporation stating that the group is withdrawing from further participation in the procedure for granting the concession for Airports of Montenegro.

"We would like to remind you that the process of considering the possible concession of the airport was initiated with a clear goal - to secure investments, improve the quality of services and ensure the further development of air traffic, while fully preserving national interests. If individual interested investors at any time assess that they are unable to meet the high standards that this process implies, this does not change the Government's firm commitment that neither in this nor in any future procedure will it accept solutions that do not guarantee full protection of the vital interests of Montenegro," the statement states.

The Government added that "taking into account the fact that Airports of Montenegro are recording exceptional business results, our goal is not and must not be to conclude business arrangements at any cost, but exclusively under conditions that provide the best possible benefits for the state and create the prerequisites for the long-term infrastructural development of the company."

"The Government remains open to dialogue and quality investment proposals from all credible partners who can offer a model of cooperation in line with the interests of the state, without deviating from the principles of transparency, sustainability and protection of the public interest. We are convinced that consistency with these principles is the best guarantee that any future model of management of Montenegrin Airports will benefit the state, citizens and the economy," the Government statement reads.