Montenegrin President Jakov Milatović called on Egyptian investors to recognize Montenegro as a reliable destination for long-term investments and the implementation of concrete business projects.
In Cairo, opening a roundtable with representatives of the business communities of Montenegro and Egypt, he said that the traditional friendship between the two countries should be transformed into a strong economic partnership, based on greater trade exchange, new investments and more direct connections between companies.
"The political relations between the two countries have solid foundations. Our task is to translate this potential into new investments, stronger economic connections, and concrete opportunities for companies and citizens of Montenegro and Egypt," said Milatović.
He pointed to the almost two-decade-long investment story of Orascom Development in Luštica Bay, assessing that the project represents a strong confirmation of the confidence of Egyptian investors in Montenegro and a good example for new investments in tourism, energy, infrastructure, transport and other areas.
Milatović said that the Agreement on Economic Cooperation between Montenegro and Egypt should be finalized and signed as soon as possible.
As he stated, its conclusion would provide greater security to investors, strengthen institutional cooperation, and create additional opportunities for companies from both countries.
The roundtable, as announced by the President's Office, also announced the imminent signing of an Agreement on Cooperation in the Field of Tourism, which will contribute to the growth of tourist exchange, stronger connections between tourism industries, and the development of joint projects.
Milatović recalled that the first direct charter flight between Cairo and Podgorica was established this month, assessing that better air connectivity will provide additional impetus to tourism, business and overall economic cooperation between the two countries.
"The results of our partnership will be measured by the investments we attract, the jobs we create, and the lasting business relationships we build. Montenegro is open to investment and a reliable partner for Egyptian investors," Milatović concluded.
At the round table, the President of the Chamber of Commerce of Montenegro, Nina Drakić, and the Acting Director of the Investment Agency, Mirjana Kojić, presented investment potential and business opportunities in Montenegro.
It was emphasized that quality foreign investments, connecting domestic companies with international partners, and creating new jobs are important for stronger growth and greater competitiveness of the Montenegrin economy.
The arrival of representatives of the Egyptian business community to Montenegro was also announced, which will be an opportunity for the talks started in Cairo to be continued through the consideration of specific investment and business projects.
Milatović's office said that, during his visit to Cairo, the port authorities of Montenegro and Alexandria signed a Memorandum of Understanding, which opens up new opportunities for connecting the ports of Bar and Alexandria, developing maritime transport and strengthening trade cooperation.
The memorandum was signed on behalf of the Port Authority of Montenegro by Acting Director Stanko Deretić, while the document was signed on behalf of the Egyptian side by the Chairman of the Board of Directors of the Port of Alexandria, Nihad Šahin.
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