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6,000 Turkish companies operate in Montenegro

Data show that 6,000 Turkish companies are registered in Montenegro, most of which are in the tourism, construction and architecture sectors.

Investors say that Montenegro has many advantages in establishing a company compared to Türkiye, such as proximity to the countries of the European Union, relatively good transport connections and the European perspective itself.   Three years ago, Seda Ozjalćin-Medenica moved from Türkiye to Montenegro, which, she says, is her real home. Here, she founded a family and a business. She runs a ballet school attended by about a hundred members.   “My ballet school is quite successful. This is our third educational season, and the number of students grows yearly.   “Montenegro is becoming increasingly attractive for foreigners, and their children make up a large percentage of the school’s students,” said ballet instructor Seda Ozjalćin-Medenica.   However, Seda is one of many citizens of Türkiye who founded a company here. 6,000 Turkish companies are registered in Montenegro, and most are in the tourism, construction and architecture sectors.   “The Turkish Chamber of Commerce in Montenegro is working on improving the conditions for investments and attracting new companies. We will also work on increasing employment in various sectors. For Turkish investors, Montenegro is a lovely and suitable country. One of the advantages is that no visa is required, and the country is a candidate for EU membership”, said Volkan Gursoy, director of the Turkish Chamber of Commerce in Montenegro.   “Montenegro has many advantages in establishing a company compared to Türkiye. The tax system is significantly more favorable and attractive for business development. Also, the proximity to the countries of the European Union, relatively good traffic connections, and the European perspective itself”, added ballet instructor Seda Ozyalcin-Medenica.   The connection of Montenegro with the European Union attracted the Turkish businessman Dundar Sahin. After several weeks of staying in the capital, he decided to open a sister company to network his business with the European Union. He is ready to share his knowledge and experience with the business environment in Montenegro.   “Montenegro is an attractive destination, especially for investors in tourism. However, the government and the private sector must start considering renewable energy sources and modern agriculture. It is a global trend suitable for development in Montenegro. They must have more partners, especially in international companies. Its advantage is that it is next to Europe, so it can easily manage transport and logistics”, said Turkish businessman Dundar Sahin.   Montenegro should work on the legislative and administrative framework, which, should be faster and more cooperative towards investors.

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