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Hungarian investors target Montenegro

Economy Minister János Kóka met his Montenegrin counterpart Branimir Gvozdenovic in Budapest on Friday for talks to boost economic ties between the two countries.

After the meeting Gvozdenovic said Hungarian companies plan to invest up to €10 billion ($13.5 billion) in Montenegro in the coming years. Hungary was the biggest foreign investor in Montenegro in the past two years. It accounted for 27% of all foreign direct investment in Montenegro between 2001 and 2005.

Today investments worth as much as €10 billion are in the planning stages there by companies including OTP Bank Nyrt, Magyar Telekom Nyrt, Mol Nyrt, aluminum maker MAL Zrt, Ganz Zrt and TriGránit Zrt. Construction group TriGránit Zrt alone plans to spend several billion euros to build a holiday resort in Montenegro and a new city center in Podgorica.

(BBJ 14.v.07)

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