The Agency for the Protection of Competition (AZK) has not yet received a request for its opinion regarding the draft agreements signed by the governments of Montenegro and the United Arab Emirates (UAE) concerning cooperation in tourism and real estate development, as no entities have sought their input.

“In accordance with the Law on Protection of Competition and the Law on State Aid Control, if relevant ministries identify potential measures that may constitute state aid, they are required to solicit the Agency’s opinion. To this point, no opinion has been requested regarding the agreements in question, based on our available information. Should any official documentation indicate possible distortions in competition or violations of state aid regulations, the Agency will take appropriate actions based on its jurisdiction to investigate,” stated the Agency, led by Dragan Damjanovic.

Prime Minister Milojko Spajic held initial consultations yesterday with representatives from parliamentary parties, including the Europe Now Movement (PES) and the Bosniak Party (BS), about the proposed agreements approved in the last Government session on Thursday.

PES MP Milorag Lakovic shared with reporters after the meeting that he is in favor of the agreements, highlighting that they have been thoroughly briefed on the details.

“We view this agreement as an excellent framework for attracting investment from the Emirates, and see it as a significant opportunity to boost Montenegro’s economy. We intend to support it and see no reason for any parliamentary faction or MP to oppose it. This agreement truly represents a chance for Montenegro,” Laković remarked.

The head of the Bosniak Party parliamentary club, Amer Smailovic, expressed support for the proposed agreement on economic cooperation, although he did not endorse the agreement related to tourism and real estate development.

“The BS will support this agreement, following the position of our ministers in government who have backed it. We believe in collaborating with reputable investors from serious nations. Since its inception, BS has advocated for balanced regional development, achievable through high-quality investments,” Smailović emphasized, adding that once adopted in parliament, a serious investment narrative will commence.

The agreement concerning tourism and real estate development would potentially facilitate a 99-year lease of Velika Plaza in Ulcinj, which faces opposition from the local government and much of the public. UAE billionaire Mohamed Alabar, owner of the company “Eagle Hills,” has shown interest in this location.

The EU Delegation to Montenegro remarked that economic growth is advantageous for Montenegro but must align with EU standards.

“In compliance with EU and Montenegrin public procurement laws, as well as the Reform Agenda, Montenegro is committed to upholding the principles of equal treatment, non-discrimination, and transparency when executing contracts and agreements under the cooperation agreement with the UAE,” the Delegation stated.

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