The Montenegrin Foreign Investors Council – MFIC – an association of the leading foreign investors in the country, was established in 2009 by the following companies: Crnogorski Telekom A.D., NLB Montenegro Banka A.D., Montenegro Stars Hotel Group d.o.o., KAP A.D. and Daido Metal A.D.
The Council was established as a non-governmental and non-profit organisation aimed at the following:
• Improving the investment climate and supporting business development in Montenegro;
• Representing and expressing the opinions of members for the purpose of promoting common interests and stimulating direct foreign investment;
• Promoting communication, cooperation and ongoing dialogue between the MFIC and authorities in Montenegro;
• Cooperating with the authorities in Montenegro for the purpose of overcoming possible problems and obstacles that foreign investors may face, as well as in economic relations with other countries;
• Promoting the interests of the international business community in Montenegro, and informing MFIC members and other stakeholders of possibilities regarding the investment climate in Montenegro;
• Connecting with other foreign investor associations within the SEE region for the purposes of:
• sharing the benefits and experiences of worldwide best practises; and
• analysing specific tools in order to facilitate regional business activities.
The MFIC’s key document is the White Book, an annual publication that informs the general public and all stakeholders about the business environment and obstacles to doing business that confront foreign investors in Montenegro and, more importantly, provides recommendations for removing identified obstacles, aimed at increasing the attractiveness and competitiveness of the Montenegrin economy. The MFIC brings together representatives of numerous and varied industries – banking and financial services, telecommunications, metallurgy and mining, energy, tourism and hospitality, the consumer goods sector, manufacturing, transportation and auditing. The MFIC’s membership base is constantly expanding from one meeting to the next.
The main bodies of the MFIC are the Assembly, Board of Directors and President. MFIC meetings are usually held monthly, while consultations at the BoD level are held on a constant basis.
MFIC member companies believe that a dialogue between policymakers and the foreign investment community lies at the very heart of successfully improving the climate for investment, while stimulating the development of the Montenegrin economy.
Senior people from member companies come together and dedicate their time, individually or by participating in the FIC’s various committees, where they debate, discuss and agree on common positions to be presented to Montenegrin policymakers regarding issues important to both foreign and local investors. The MFIC’s main objective is to promote sustainable economic growth by improving Montenegro’s investment landscape. MFIC members believe strongly that the path to sustainable growth lies in public policies shaped through a transparent dialogue between the business community and policymakers. The MFIC is interested in a constructive dialogue and efficient and transparent consultations with the public authorities. This dialogue should concern nationally relevant issues of importance to the public and the business community alike, and should be a bedrock for sustainable development.
Over the years, MFIC members have shared their knowledge and expertise with Montenegrin policymakers and are regularly consulted when legislation is enacted that will have an impact on the business climate. The MFIC is an independent organisation with no political affiliation that works together regularly with other business associations, representatives of international organisations and memebrs of the diplomatic corps in Montenegro.