Montenegro economic and regulatory development

Montenegro is advancing economic and regulatory reforms through legislative updates and international cooperation. The government has proposed amendments to the Law on Financial Conglomerates to align national laws with European Union standards, specifically Directive 2002/87/EC. These changes aim to facilitate the closing of negotiation chapter 9 regarding financial services. Key proposals include raising the balance sheet threshold for the smallest financial sector within a group from 100 million euros to 6 billion euros, and increasing the threshold for additional supervision from 80 million euros to 5 billion euros. The amendments also seek to clarify the status of voluntary pension fund management companies to prevent regulatory gaps.

Parallel to these regulatory changes, the country is strengthening economic ties with the European Bank for Reconstruction and Development (EBRD). Following discussions between Finance Minister Novica Vuković and EBRD Head of Office Ekaterina Solovova, cooperation is expected to expand in transport, renewable energy, and energy efficiency. The EBRD has invested over one billion euros in Montenegro over the last two decades across tourism, transport, and energy sectors.

Future economic priorities include supporting small and medium-sized enterprises to drive innovation and job creation. Regional development remains a focus, with specific emphasis on improving connectivity and investment in the northern region. Additionally, forums such as the ‘TBM Business Talks – Southern Region’ are being utilized to address investment potential and sustainable development in southern Montenegro, focusing on aligning investments with local community needs.