Turkish investors: Bureaucracy, workforce and infrastructure the biggest problems

There are 6,000 Turkish-owned companies operating in Montenegro, most of them in the tourism, construction and energy sectors.

Those who decided to develop their business in our country say that they were attracted by the good geographical location, but also by the favorable economic conditions. Despite the challenges, such as bureaucratic procedures and lack of infrastructure, business, they say, pays off.

Ozlem Erdam Polat is one of the 11 thousand Turkish citizens residing in our country. Many of them have their own companies or work in compatriots’ companies. Such is the case with Ozlem, who together with her husband, moved the family construction company Polat Construction to Montenegro.

“Montenegro attracted us with its culture, nature and common historical background. We estimated that it is one of the countries with the greatest growth potential in Europe. Developing countries always offer great opportunities for small investors like us,” says Ozlem for TVCG.

Their case is not isolated. 6,000 companies whose owners are Turkish citizens are registered in Montenegro. Good economic conditions, but also geographical proximity are some of the main factors why they decide to live and work in our country, say TurkCham – the Turkish Chamber of Commerce in Montenegro.

“We are aware that Montenegro has a free trade agreement with a market of 800 million people. Also, the cultural and historical ties between Montenegro and Turkey contribute to a good business environment,” Burhan Genc from the Turkish Chamber of Commerce in Montenegro told for RTCG.

However, a good business environment, according to our interlocutors, disrupts certain business barriers.

“I’m referring to the unstable political situation in recent years, bureaucratic procedures, the lack of professional workforce, as well as the need to improve infrastructure,” says Genc.

“In Montenegro, things are progressing more slowly than we expected and were used to. We face a lack of infrastructure, especially in the public and banking sectors. When we look at the Turkish and Montenegrin economies in the medium and long term, we see a more sustainable gain in Montenegro”, says Erdam Polat.

For this reason, they say in TurkCham, air connectivity should be improved not only with Istanbul but also with other cities in Turkiye, as this would open up new opportunities.

“Increasing flights between the two countries could contribute to the further development of the tourism industry and economic cooperation between the two countries,” says Genc.

As the most interesting areas for business, Turkish investors are mentioning tourism, energy and construction, but lately, from TurkCham they say, there is more and more interest in investing in agriculture.