Turkish investments in Montenegro are on rise

Turkish investors are expanding their activity in Montenegro, according to 2018 data released by the Montenegrin Tax Administration. Turkish investors mostly targeted Budva, a town along the Adriatic Sea, where they established 1,048 companies last year, followed by Podgorica, where 609 companies were opened. In total, Turkish investors established 1,545 companies in Montenegro in 2018 up from 435 established in 2017 and 71 established in 2016. The new companies mainly involve consulting services, construction, wholesale, trade and hospitality, the data shows.