BAKU, Azerbaijan, January 5. Montenegro is aware of and welcomes the growing importance of Azerbaijan as a strategic hub in the regional and global economy, Deputy Prime Minister and Minister of Foreign Affairs of Montenegro Ervin Ibrahimović said in an exclusive interview with Trend, as he recently visited Baku.
“Montenegro’s participation in the First International Investment Forum in Baku demonstrates Azerbaijan’s efforts to diversify its economy, as well as our readiness to recognize investment opportunities across numerous sectors. We believe that stability, peace, and sustainable development in the region, including the reconstruction and development of the Karabakh area, create a favorable environment for investment. We expect the Azerbaijani market to attract the attention of Montenegrin investors, particularly those who, by strengthening their capacities and through regional cooperation, seek to become credible participants in a demanding investment market,” he said.
The deputy PM believes that particularly promising areas for investment include energy, infrastructure, innovation, green energy, real estate, urban development, and projects based on the principles of sustainable development.
He went on to add that additional promotion of Azerbaijan’s investment opportunities in Montenegro could significantly contribute to better informing the business community and encouraging concrete investments that would enhance economic ties between our countries.
“In this context, the role of economic diplomacy is particularly important in connecting institutions, business communities, and investors of the two countries, with these aspects of cooperation to be further discussed within the framework of the upcoming session of the Joint Commission for Economic Cooperation,” said Ibrahimović.
He noted that in addition to deepening cooperation in the energy sector, Montenegro recognizes significant opportunities for Azerbaijani investments in tourism, which represents one of the key sectors of the country’s economic development.
“The existing Agreement on Cooperation in Tourism between the Governments of Montenegro and Azerbaijan from 2011 provides a legal framework for further investments and strengthening mutual ties. A significant number of Azerbaijani tourists visit Montenegro, with a continuous increase in arrivals and overnight stays, confirming Montenegro’s growing recognition as a tourist destination. Direct flights between Baku and Podgorica or Tivat further facilitate access and strengthen tourism and economic connectivity.
When speaking about the quality of investments in Montenegro, I always highlight with satisfaction the investment in the luxury complex Portonovi, one of the most significant and recognizable Azerbaijani investments in Montenegro, which has become a symbol of successful cooperation between our countries. This investment has significantly contributed to the development of tourism, enhanced Montenegro’s international visibility, and strengthened its positioning as a prestigious tourist destination. We see such examples as a model we wish to further encourage through future projects and new partnerships with Azerbaijani investors,” said the deputy PM.
He pointed out that in addition to tourism and energy, Montenegro would like to see investments from Azerbaijan in infrastructure projects, health and congress tourism, as well as sustainable development projects in national parks and northern Montenegro.
“The construction of key infrastructure projects, such as the Bar–Boljare highway, opens additional investment opportunities and increases the accessibility of less developed regions.”
Ibrahimović noted that Montenegro’s NATO membership and its expected accession to the European Union further strengthen investor confidence, confirming that Montenegro is a stable, safe, and predictable environment for investment.
“The Government of Montenegro principledly supports all serious and responsible investments, and experience with existing Azerbaijani investments shows that joint projects can significantly contribute to overall economic cooperation between our countries.”