Montenegro is making significant strides towards European Union membership, positioning itself as a frontrunner in the accession process. European Commission President Ursula von der Leyen recently affirmed this trajectory during her visit to Tivat on October 13, where she emphasized that Montenegro is “well on track to join our union.”
Montenegro’s Progress in EU Negotiation
Montenegro has opened all 33 negotiating chapters, with seven currently provisionally closed. This status makes it the most advanced among the seven countries pursuing EU membership. Officials in Montenegro are optimistic, aiming for full integration by the end of the decade.
The Journey to Independence and Development
Since declaring independence in 2006, Montenegro has faced numerous challenges. With a population of roughly 600,000 and limited natural resources, its initial prospects appeared bleak. However, the nation capitalized on its rich cultural heritage and breathtaking landscapes, recognized through four UNESCO World Heritage Sites.
Attracting Investment
Montenegro effectively attracted foreign investments through favorable tax policies and a light regulatory framework. An example of this approach is the Porto Montenegro project, located near Tivat. What was once a dilapidated shipyard has transformed into a luxurious tourism hub, featuring the world’s largest superyacht marina.
- Developer: Investment Corporation of Dubai
- Key Features: Luxury residences, hotel accommodations, and recreational facilities
Economy and Future Adjustments
David Margason, Porto Montenegro’s managing director, acknowledges that while the project benefited from the absence of EU regulations, approaching integration will require adjustments. The Montenegrin government recently abolished a controversial citizenship by investment program, marking a shift towards a more stable economic framework.
Realignment for EU Membership
Petra Čelebić from Aretera Public Affairs views accession by 2030 as realistic. She notes that Montenegro’s relatively small size and advanced negotiating status minimize the integration costs for the EU. Even amidst concerns over potential brain drain, the overall impact on the EU is expected to be minimal.
Former Europe minister Jovana Marović acknowledges that areas of the Montenegrin economy might experience short-term challenges due to increased competition. However, she asserts that these adjustments are vital for fostering a more robust economic environment, opening doors to higher-quality foreign direct investment (FDI).
Infrastructure Development Challenges
Corporate lawyer Vladimir Radonjic stresses that EU membership will boost investor confidence. Nonetheless, he warns that it won’t eliminate all issues, particularly the need for bureaucratic reform and urgent infrastructure investments.
Air Travel Infrastructure Improvements
A major aspect of improvement is Tivat Airport, a critical entry point for foreign visitors. The government is nearing the completion of a concession for international airport management, with Incheon International Airport Corporation recently identified as the preferred bidder. A contract could be finalized by early 2026.
Overall, these developments indicate that Montenegro’s transition towards EU membership is both exciting and precarious, as foreign investors approach this new era with cautious optimism.
