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HomeEconomyThe Parliament will still approve the contract with the investor from the...

The Parliament will still approve the contract with the investor from the UAE.

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The Parliament is Set to Approve the Contract with the UAE Investor.

Čarapić, Photo: Luka Zeković

MP Vasilije Čarapić from the Europe Now Movement (PES) has introduced an amendment to the Bill concerning the ratification of the Agreement on Cooperation in Tourism and Real Estate Development between Montenegro and the United Arab Emirates (UAE). This amendment stipulates that the Parliament must approve any contract signed by the Government with a UAE investor that involves the disposal of state property.

According to Čarapić’s amendment, “The agreement outlined in Article 2, point 3 of the Cooperation Agreement will only be effective following a decision from the Parliament of Montenegro regarding the Disposal of State Property associated with it.”

In Article 2, point 3, it is noted that “Contracts, programs, and agreements connected to projects with specific project locations shall be made with the Entity for the execution of this Agreement.”

Čarapić further explained that the proposed modification to Article 3 aims to align the text with the Government’s conclusion (No.: II-OI1/25-1038/2, dated March 24, 2025), emphasizing the legal necessity for Parliament to confirm any agreement concerning state property disposal. This amendment resolves any potential uncertainties regarding state property disposal and promotes effective management in the interests of both the citizens and the state.

This means that should an investor from the UAE wish to invest in the Great Beach in Ulcinj, as suggested, and the Government agrees to lease it for 99 years, the contract would need Parliamentary approval beforehand.

Previously, the Government requested an urgent vote from MPs on this law without providing any rationale for the urgency in the proposal.

The day following the proposal submission, they submitted explanations for the urgency, yet did not specify a concrete reason.

In this context, it was noted, “We propose that the Law on Ratification of the Agreement with the UAE Government be expedited, pursuant to Article 151 of the Parliamentary Rules of Procedure, in light of its potential to enhance cooperation in tourism and real estate development, thereby improving the economic situation in Montenegro.”

According to “Vijesti” today, if the Agreement with the UAE is adopted, it would enable the Government to assume Parliamentary powers, allowing for state properties to be leased to investors for periods over 30 years without MP consent.

Vanja Ćalović Marković, director of the Network for the Affirmation of the Non-Governmental Sector (MANS), informed “Vijesti” that this diminishes control mechanisms and raises concerns about possible corruption.

The Government insists that Assembly members will still have the final say in any potential UAE investment, claiming this ensures an effective oversight mechanism.

On March 28, Prime Minister Milojko Spajić signed agreements on economic, tourism cooperation, and real estate development with the UAE in Dubai. He had previously informed the leaders of Ulcinj and local parties about Arab billionaire Mohamed Alabar’s intention to invest €35 billion in a tourist complex in that region, which he presented to Parliament as a bill. Critics within the public and non-governmental sectors argue that these agreements undermine state interests in multiple areas and threaten Montenegro’s EU advancement.

Čarapić has previously indicated to “Vijesti” that parliamentary inquiries remain unaffected, as confirmed by the Government’s conclusion.

“The General Secretariat of the Government is tasked with submitting all contracts derived from the UAE Agreement related to state property disposal for parliamentary ratification. Thus, any contract initiated by the Government is valid only upon Parliamentary approval, meaning MPs maintain definitive control over each investment,” Čarapić asserted.

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