Representatives of AmCham’s Real Estate Committee met with the Minister of Sustainable Development and Tourism, Mr. Branimir Gvozdenović, and members of his cabinet. Also attending the meeting were representatives of the Ministry of Finance, as well as the Director of the Real Estate Administration, Mr. Dragan Kovačević, on Thursday, May 29, 2014 at the Ministry of Sustainable of Development and Tourism. The meeting was held in order to present the Real Estate Committee’s recently completed position document, outlining recommendations to improve doing business in this vital sector. AmCham’s Real Estate Committee is comprised of some of the most prominent investors in real estate in Montenegro.

Months of work by member of AmCham’s Real Estate Committee resulted in creating a position document, which summarizes key business challenges that AmCham members face in the real estate and construction sector. The document identifies essential issues in the real estate sector and proposes recommendations that, if implemented, would make investing in the real estate sector in Montenegro more transparent and efficient. The purpose of the document is to identify the most serious barriers and indicate the best potential methods to improve the regulatory framework and administrative efficiency.

“AmCham Montenegro is dedicated to the improvement of the business environment in Montenegro in all aspects. Our Real Estate Committee has been proactive in improving the current situation in the real estate sector. The recently-produced position document represents a blueprint for changes in the area of real estate that we believe must be made in order to attract investors and improve the overall business environment in this important segment.” said AmCham Montenegro Executive Director, Mr. Edin Seferović.

Minister Gvozdenović stressed the importance of cooperation with the American Chamber of Commerce in Montenegro, as one of the most important partners, and insisted on the importance of ongoing and constructive communication among the entities that create the trends in order to improve the business environment in the country. “Today’s meeting and debate represents further proof of our commitment to improving collaboration and initiate activities that contribute to the strengthening of our position in the national and global level, in respect of business and investment aspect.”

During the meeting, several smaller working groups were arranged in order to provide more direct, concrete recommendations that can be offered as solutions to specific problems that concern planning documentation, tax framework, and improving efficiency of the Real Estate Administration.