Arijana Nikolić Vučinić, MFIC Executive Director

The Montenegrin Foreign Investors Council collaborates actively with all stakeholders in this society in order to collectively find the best solutions to improve the business climate

The goal of the Montenegrin Foreign Investors Council (MFIC) and the focus of its work is on improving the business climate through intensive dialogue, cooperation and the involvement of all relevant actors in the decision-making process.

As MFIC Executive Director Arijana Nikolić Vučinić explains, “I always like to emphasise that transparency and the involvement of the private sector in the decision-making process are prerequisites for long-term sustainability and a stimulating environment for the economy.”

“If the business sector is informed about planned legislative changes in a timely manner and thus has sufficient time to prepare for them, we are able to reach solutions that are appropriate for all parties involved,” notes our interlocutor. “Insisting on adherence to these principles is one of the priorities of the Council’s activities.”

MFIC also strives to highlight the importance of improving road infrastructure and advancing Montenegro’s accessibility. “If we wish to further develop tourism, as the most significant sector of the economy, as well as logistics and trade, it is necessary to develop transport infrastructure in all its segments,” explains Nikolić Vučinić.

“On the other hand, I would like to remind you that our members regularly point out that infrastructure improvement also means intensifying the digitalisation process, as this can speed up procedures and reduce bureaucratic barriers. We are aware that digital transformation is a complex process, but MFIC strives to provide all possible support, particularly through the activities of our Committee for IT, Economic and Infrastructural Development.

“Our Strategy also recognises the need to strengthen human resources, especially through the aligning of the education system with labour market needs. I am confident that both the business sector and decision-makers share the view that only people with the required knowledge and skills can construct a reliable foundation for further economic growth.

“When you consider it, these are truly fundamental issues of immeasurable importance for the economy of any country. Bearing that in mind, in addition to the aforementioned Committee for IT, Economic and Infrastructural Development, we have established committees for Talent and Human Capital, Rule of Law and Taxation, and Green Economy Transition (ESG). These committees are chaired by members of our Board of Directors, who aim to achieve the results required in these important areas.”

What new methods have you introduced to better utilise the capacities of MFIC members?

One of the key priorities during my tenure has been to ensure that the voice of our member companies is heard more clearly when it comes to policy creation and strategic initiatives. Additionally, through the formation of these committees, we wanted to encourage our members to choose the area that they consider as being the most important to them and where they can provide the greatest contribution.

We have increased the frequency and quality of communication with relevant institutions and the Government to ensure that the views and recommendations of our members are conveyed and implemented adequately. Our membership in the Competitiveness Council has given us the opportunity to nominate certain key issues on behalf of our members.

We are pleased that representatives from our member companies are involved in working groups and government bodies, which gives them the chance to directly highlight the challenges they face, as well as to present opportunities for further development in their respective industries.

We aim to initiate dialogue on topics of strategic importance to Montenegro’s longterm development, such as digital transformation, the green transition and labour market improvement

I would also mention that we have launched the “MFIC Talks” platform, which enables more informal and direct communication between our members and key decision-makers.

Moreover, we have also made changes to the structure of our White Book, as the Council’s key document. These changes include a clearer structure and a more comprehensive overview of the business environment and the challenges confronting our members. It is important to note that, from now on, the MFIC White Book will be published in November, giving the Government enough time to include our recommendations in its work programme for the following year.

This ensures that proposed suggestions are considered in a timely manner and potentially included in government plans and policies. All the changes I have mentioned aim to contribute to the more impactful and efficient work of the Council.

What are the most important topics you would like to address through “MFIC Talks” events?

Through “MFIC Talks”, we aim to initiate dialogue on topics of strategic importance to Montenegro’s long-term development, such as digital transformation, the green transition and labour market improvements. We are additionally focusing on issues that may pose operational challenges for our members.

“MFIC Talks” events are particularly valuable because they enable deeper exchanges of ideas, strengthen cooperation and build mutual trust between investors and decision-makers. The goal of these discussions is therefore not only to identify obstacles, but also to recognise opportunities for growth and development, through the exchange of ideas and the fostering of mutual trust.

What do you see as the most effective ways of collaborating with the Government of Montenegro to improve institutional conditions for foreign investment?

Over the previous period, MFIC has made significant advances in strengthening its position as a partner able to contribute to Montenegro’s economic development. Our goal is to engage in dialogue with the Government on the basis of trust and effective cooperation, particularly in the context of the initiatives that we launch with the intention of improving the business and investment environment.

The White Book remains one of the most important sources of information for decision-makers regarding the state of the market and business conditions. Through the Ease of Doing Business Index, which we have published for 14 consecutive years, as well as by listing barriers and recommendations to improve the business environment in Montenegro, we provide the Government with clear guidance for its reform steps.

In all that we do, we are guided by the desire to be a constructive partner to the Government, because our high-quality cooperation directly supports Montenegro’s economic development and creates better conditions for the lives and work of all citizens.

In addition to cooperation with the Government, do you also have strong cooperation with other business associations in the country?

Partnership is one of the key values of the Council’s work, and recognising areas of common interest is a prerequisite for creating new value. Several other business associations operate in Montenegro with which we share a common goal, and we also have a number of shared member companies.

It is therefore natural for us to join forces, because I am confident that we will achieve much better results if we view each other as allies. Our success ultimately depends on the strength of the partnerships that we build and our ability to respond to the needs of the business community.