Foreign citizens have been freely investing in real estate across Montenegro for years, purchasing thousands of apartments and plots, from the coast to the mountains. The government has historically supported these investments through strategic projects like Porto Montenegro, Luštica Bay, Portonovi and Sveti Stefan, without imposing special procedures for approvals. These projects were presented as successes for the Montenegrin economy. So why should investors from the UAE be treated differently?
If the government now decided to impose new, more stringent rules for one investor, it would send a wrong signal. It could be interpreted as discrimination against UAE investors and show that Montenegro selectively applies its laws depending on the political moment. Such a selective approach undermines the rule of law and trust in legal frameworks.
Over-politicizing constitutional matters related to foreign investment risks damaging the investment climate. If every major investment agreement becomes a battleground for political disputes, foreign investors may hesitate before committing capital to Montenegro. The political divide over UAE investments is already creating delays in strategic projects.
Montenegro desperately needs fresh investments to accelerate economic growth, especially in projects like Ulcinj’s Velika plaža and ski resorts in the north. These opportunities should not become victims of legal complexities or political maneuvering.
Constitutionality and legality should be respected, but interpreting the constitution should not be rigid or politically motivated. If the constitution’s intent was to protect state interests with a two-thirds majority, it should apply consistently, not selectively. The country must either reassess previous practices (which would be legally and economically unsustainable) or accept that this agreement follows established practices.
Failing to maintain consistency could harm Montenegro’s international credibility. If the highest court were to annul a signed agreement, it would damage both the state and the investor. Such a scenario would tarnish Montenegro’s reputation more than any shortcomings of the agreement itself.
Montenegro must remain legally reliable and open to investments. By applying consistent rules to all investors, the country can protect its reputation and economic future. Arab investments, already widespread globally, should be leveraged for Montenegro’s progress, ensuring public interest is safeguarded through transparent processes without unnecessary obstacles.
In the end, Montenegro must either change the rules for all or apply them equally. Any other approach would lead to double standards, which could harm the country more than benefit it. The stakes are high: economic development and investor confidence. Therefore, it is crucial for Montenegro to demonstrate continuity in legal security rather than make decisions driven by daily politics.
