Foreign investments hit €328m in Montenegro last year

Azmont Investment, the company behind the large-scale Portonovi Resort project along Montenegro’s Bay of Kotor, was the country’s biggest investor in 2018, according to local news reports, citing statistics from the Central Bank. The first phase of the project, worth an estimated €700m, is scheduled to open in June. Foreign investors from 60 countries pour some €328m into the Montenegrin economy last year. The largest investments came from Hungry (€57.8m), Russia (€52.5m), Turkey (€51.1m) and the UK (€39.6m). Total investments for the year amounted to €843.1m, down 32 percent from the previous year.