Finding New Models for Attracting Investment Migrations – Stated from the Round Table on the Faculty of Economics

At the Faculty of Economics of the University of Montenegro, a round table was held on the topic "Economic citizenship as an economic and economic interest of Montenegro?" which brought together numerous participants - representatives of local self-governments, heads of state institutions, representatives of companies that have projects in the economic citizenship program, as well as representatives of all agent companies for mediation in the process of obtaining citizenship based on investment.

Moderator of the round table, which was organized by the Department of Economic Analysis and Policy at the Faculty of Economics, Dean Mijat Jocović, PhD, introducing the panel participants to the topic, pointed out that the economic citizenship program, as a project of economic importance for Montenegro, needs to be viewed from several aspects that are not necessarily complementary: "The first is a very complex macroeconomic environment characterized by growing inflation and imbalances in public finances and economic relations with foreign countries. The second aspect refers to the important requirements that the country must fulfill in the strategic process of EU integration." He also highlighted his special satisfaction with the great response of the panel discussion participants who showed their willingness to discuss the advantages and limitations of the economic citizenship program in an atmosphere of academic dialogue.

Minister of Economic Development and Tourism Goran Đurović said that the projects currently participating in the Special Program are mostly projects from the List of Development Projects in the field of tourism, and these are projects with total planned investments of 350.7 million euros: "In in this area, the Government of Montenegro has so far included 12 projects on the List that directly influence the creation of new permanent value in terms of strengthening tourism capacities, especially in the north of Montenegro, and it did this better than any other incentive for development from the previous period. ." The minister indicated that out of a total of 12, 8 projects are in the northern region (1 in Žabljak, 7 in Kolašin), and the value of these investments is projected at 113.89 million euros. Đurović also told the audience that the dominant model of investment in accommodation units is the condo and apartment model, with a capacity of 2,333 accommodation units, which will create the opportunity to create 1,561 new jobs.

Giving an overview of the economic citizenship program from the aspect of public finances, as well as the challenges from the perspective of the complex economic situation, the Minister of Finance Aleksandar Damjanović, MSc, assessed that the program represents a great development opportunity: "It should bring concrete benefits and income to Montenegro, but it is necessary to look more carefully and the so-called political aspect. In this sense, it is necessary to harmonize domestic policies with the policy of the "Brussels Club", whose position is that the existing program should be completed by the end of the current year." Participating in a dynamic and constructive discussion, the minister concluded that it is necessary to make a comprehensive analysis that will result in a new possible model, acceptable also for our European partners, whose ultimate goal would be a greater contribution to the Montenegrin economy, i.e. a more significant generation of investments and income, as well as a better economic balance with a focus on the whole region, and all in agreement with the wider context of European integration. The director of the investment agency Mladen Grgić, conveying the Agencys experience, referred to the established procedures that the focus of giving a positive or negative opinion on the application for obtaining citizenship based on investments (the so-called Due Diligence report) was transferred to two renowned global companies, while the continuation of the procedures in Montenegro reduced to a technical level. In his opinion, it was a good decision, especially in the context of negative PR that could be heard in the media about the granting of passports to dubious categories, in accordance with the current political situation in our country. However, Grgić also pointed out the inefficiency of domestic administrative capacities for the implementation of applications. The participants of the panel from the companies of agents for mediation in the process of obtaining citizenship by investment agreed that the economic citizenship program has achieved a significant effect in a short time, especially in the tourism sector, and that it should be insisted on modifying the program in a way that responds to the fact that Montenegro is recognized as interesting for investment migration, but also that this new program does not disturb the road map of Montenegro towards the EU. Also, they have repeatedly emphasized that they stand at the disposal of the Government for the preparation of proposals for new programs that would have effects such as the program for acquiring citizenship based on investments. The participants of the round table "Economic citizenship as an economic and economic interest of Montenegro?" repeatedly welcomed the initiative of the Faculty of Economics for organizing this event and the opportunity to gather in one place all those who can talk about the advantages and challenges of this program. When presenting the conclusions, Dean Jocović stated that todays discussion, for which there was great interest, is one of series of events that we organize at the Faculty of Economics in order to further affirm ourselves as an institution where economic thought and scientific truth are put into the function of social interest.