Middle East > Jordan > Montenegro will open an office in the Jordanian capital Amman.

Jordan: Montenegro will open an office in the Jordanian capital Amman.

2014/09/10

The new government office, which aims to promote investment opportunities in Montenegro to Middle Eastern nations, will open on Sunday in Amman, the Montenegrin Investment Promotion Agency has announced.

The opening is the result of Podgorica’s collaboration with the Jordanian oil fund Al Qamar, which is interested in building a large data technology centre in the Montenegrin town of Cetinje.

The chief of the Montenegrin Investment Promotion Agency, Milos Jovanovic, said there would be "critical partnership" with large Middle Eastern companies in the fields of tourism, agriculture and renewable energy sources by the end of this year.

"The office will be a place for prospective investors from the Middle East. They will be able to get to know additional about the country, its economy and all the investment benefits that are provided," Jovanovic said, Montenegrin media reported.

Due to a decrease in Russian investments in the completed two years, which has been exacerbated next Podgorica joined EU sanctions imposed on Moscow over the Ukraine conflict in March, Montenegro has turned to potential new partners in the Middle East.

Under the government's strategy for attracting foreign direct investment , the country is targeting 1.6 billion euro of foreign direct investment by the end of 2015, mostly from the United Arab Emirates, Jordan and Qatar.

Despite the world financial crisis, total foreign direct investment in Montenegro in 2009 reached a record 1.07 billion euro, mainly from Russian companies. The inflow of foreign investment in 2013 dropped to 300 million euro.

The initial significant Middle East investment in Montenegro came from the United Arab Emirates in 2009, at the same time as Abu Dhabi Capital Management invested hundreds of millions in the Atlas Capital Centre, one of the region's major mixed-use development projects.

Real estate investment company Qatari Diar as well planned to build a five-star hotel near the Montenegrin coastal town of Tivat that would operate under the Hilton brand, but in August the company pulled out of the transaction worth 350 million, citing what it called "unsettled property relations".

Related Articles

UNWTO: International tourism – strongest half-year results since 2010
2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
Jordan moves to modernise education sector
2017/07/01 Efforts to increase Jordan’s digital literacy rates against a backdrop of changing demographics and skills gaps in the labour market are beginning to yield results. In early May, the Queen Rania Foundation announced plans to join forces with Google.org, a non-profit subsidiary of the world’s major search engine, to create an online learning platform targeting the kingdom’s pre-university-level students. As part of the collaboration, Google.org will grant the foundation $3m. Designed as an open education resource to improve access to education for pupils unfamiliar with English, the programme will be delivered in Arabic. While a timeframe for the project’s implementation has from presently on to be made public, the foundation confirmed that the initial phase will focus on creating mathematics courses for students in pre-tertiary education.
US companies interested in investment opportunities in Jordan Forum highlights projects in Jordan, region
2017/06/02 Planning and International Cooperation Minister Imad Fakhoury said several US companies want to tap investment opportunities available in the country and expand their investments, according to a ministry statement released on Tuesday. The minister gave the remark in his address at the inauguration ceremony of the Jordanian-US Business Forum on Monday as he deputised for Prime Minister Hani Mulki. US companies want to learn about new opportunities in the Kingdom and they as well want to participate in reconstruction projects in the nations of the region, while being based in the Kingdom, the minister told the attendees, stressing the importance of the Jordan-US partnership.
Refinery company looks to expand gas station network
2017/06/02 The Jordan Petroleum Refinery Company (JPRC) plans to expand its network of gas stations across the Kingdom, a senior executive told The Jordan Times Sunday. The expansion in gas stations is carried out through the Jordan Petroleum Products Marketing Company (Jo Petrol), a subsidiary of JPRC and its marketing arm.
Policy Differences Emerge Among Gulf States Days After Wooing President Trump
2017/05/29 Cracks have appeared in a Saudi-led, US-backed anti-terrorist political and military alliance days next US President Donald J. Trump ended a historic visit to Saudi Arabia. The cracks stem from Qatar’s long-standing fundamental policy differences with Saudi Arabia and the United Arab Emirates about Iran and the role of political Islam. The cracks emerged as the result of an anti-Qatar media and cyber campaign involving a spate of anti-Qatar articles in US and Gulf media; the blocking of Qatar-backed media websites and broadcasts in Saudi Arabia, the United Arab Emirates and Egypt; statements by prominent former US government officials; and a recent seminar by the Washington-based Foundation for the Defense of Democracies that has long asserted that Qatar supports militant groups.