Russians Biggest Investors in Montenegro 

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Over a period of 16 months, Russians invested EUR95m and are the undisputed leaders in terms of foreign direct investment. Out of the countries in the region in that period, Serbia invested the most – EUR44m, B92 reports. 

The appearance of the novel coronavirus has slowed down, but has not stopped the inflow of FDI in Montenegro, and so in January–April this year FDI totaled EUR282m, says the Montenegrin portal Bankar. 

Last year’s inflow of FDI in Montenegro amounted to EUR778m, while in the 12 months of last year and four months of this year FDI exceeded EUR1bn. The number one investor in Montenegro is Russia, with Russians investing EUR95m in Montenegro in 16 months, predominantly in domestic companies, but also in the real estate sale sector. 

China was in second place – with no FDI inflow in 2019, but EUR70m invested in the first four months of this year. How much money China invested and in which particular sector remains unknown, as the country has marked the data as confidential. 

Switzerland landed in third place this time, with the most money invested in intercompany debt, which is investment that does not increase basic capital B92 reports. The inflow of FDI from Hungary totaled EUR54.5m, followed by 54m from the United Arab Emirates.

Investments from Italy and Germany added up to EUR43m each, followed by the Netherlands with 40m and Turkey with 39m. In the observed 16-month period Bosnia and Herzegovina invested EUR35m in Montenegro, whereas Croatia invested 17m. The inflow from Kosovo amounted to EUR10m and from Albania 4.7m. 

North Macedonia invested the smallest amount – just EUR634,000. According to Central Bank of Montenegro data, in the course of 12 months of 2019, just over EUR400m flowed out of Montenegro, while in the first four months of 2020 that sum was 101m. 

The net inflow of FDI, i.e. the difference between its inflow and outflow, added up to EUR180.7m in April, up 78.6% YOY. 

“The total inflow of FDI went up 31.9% relative to the comparative period, which is a result of increased inflow from intercompany debt,” reads the Central Bank Bulletin. 

Companies based in the Virgin Islands invested EUR36m in the aforementioned 16 months, while companies from South Africa provided an FDI inflow of 624,000.