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Dutch Boost to Montenegro Investments

01 10 2007  Podgorica_ The Dutch government is to support investment in certain joint projects with Montenegro, as part of an agreement signed by the two countries on Monday.

Under a Memorandum of Understanding between Montenegro’s Ministry of Economic Development and the Dutch Ministry of Economic Affairs, the Netherlands will provide financial assistance worth up to 50 per cent of joint projects that qualify for support.

Each company can apply for grants of up to €750,000 per project.

The Memorandum provides a legal framework for the implementation of future projects and for the Dutch government’s Programme of Economic Cooperation with New Markets (PSOM), whose objectives are to contribute to the development of market economies, increase competitiveness and boost sustainable production.

“We expect this Memorandum to increase joint investments, especially in agriculture, infrastructure, the environment and energy efficiency”, the Dutch ambassador, Ron J.P.M. van Dartel, said after signing the Memorandum.

Montenegrin Minister for Economic Development, Branimir Gvozdenovic, said that this programme would improve the investment environment for Dutch capital.

“This will also provide for better communications between Montenegrin and Dutch companies, as well support Montenegrin companies that produce goods which can find their market in a wider European area”, Gvozdenovic said.

The deadline for submitting applications for financial assistance is February 28, 2008.