Speech by President von der Leyen at the opening of the conference ‘Smart Growth, Green Future: Accelerating Investments in Montenegro'

Dear Prime Minister Spajić,

Excellencies,

Distinguished guests,

Ladies and gentlemen,

It is such a pleasure to return to this beautiful country. And Prime Minister you described it in amazing words and rightly so, the beauty and the power, and the potential of this country. It is now one year since my last visit and the very first time that I am here in Tivat. It is amazing to see the landscape, the mountains and the sea and the coast. This region has been famous for trading for centuries. And as we gather here, you can feel history is still being made. Montenegro is a country with such incredible potential. Thank you very much for describing it, we could go on for hours describing the potential of Montenegro. You sit at the heart of our continent, at a crossroads between Central and Southern Europe, between East and West. You are home to a young and dynamic population. You have adopted the euro and now joined our Single Euro Payments Area. That is a big step forward. One of my Ambassador told me he tested the system. He sent himself money from Brussels to the Western Balkans on 6 October, it took this money three to four days to arrive and it cost him EUR 50. On 8 October, after you joined SEPA, he did the same, he sent money from Brussels to the Western Balkans, it took a couple of minutes and with zero fees. That is SEPA. A huge advantage for the business sector. And you are well on track to join our Union. Listening to the Prime Minister, you see the will and determination to join the European Union. This is very ambitious and we like ambition. You know that we are with you every step of the way towards the European Union. But we are her today because investment is still not matching the country's potential. And I am talking in particular about European investment. My message is very clear: do not wait for accession to invest in Montenegro because then you would miss opportunities that others might grab. The time to invest is now ladies and gentlemen. This is why I have made it a priority to attract more European businesses to the Western Balkans, and specifically to Montenegro, already before you join our Union. And I am pleased to see so many significant investors here today. Institutional investors like the European Investment Bank, the EBRD, and private investment banks. European companies as well as local firms – energy companies, engineers and agribusiness. Your presence here today is a real vote of confidence in Montenegro.

So what does this incredible country have to offer? With its beautiful landscape and stunning coastline, tourism is a huge part of the economy. And today's projects have a strong focus on making this industry sustainable. For instance, through agritourism. But the economy of Montenegro is diversifying into many other areas. Just look at some of today's announcements. In clean energy, we will see floating solar farms, high-altitude wind power, and Montenegro's first battery storage facility which is so important for the future. In transport, the port of Bar will be the first Zero Carbon facility on the Adriatic. And in technology, Montenegro's first innovation campus can create thousands of jobs. This is just a flavour of the 14 projects we will sign today where we will unite investors from Montenegro and across Europe – with strong backing from us. These investments will help give perspective to the young and dynamic population Montenegro has, it will encourage more of the diaspora to return home, because here is where the future music plays. And they represent millions of EUR in cutting-edge investments. It is proof of what can be achieved when European and Montenegrin businesses work together.

But these investments are also a strong vote of confidence in the government's ambitious reform agenda. There has been great progress in many areas. Like modernising the judicial systems. Several important laws were adopted before the summer. Including significant electoral reforms in areas like political financing. But the months and years ahead will be even more consequential. If Montenegro keeps on this path, with this speed and determination – and I have no doubt about that -, the goal of joining our Union is truly within reach. This is the moment to move forward at maximum speed with reforms on the rule of law, and transparency in public procurement. This will also send a clear signal that Montenegro means business. And that Montenegro is a great place to do business.

Ladies and gentlemen,

My message to investors today is – do not delay. The time for investment is now. There are incredible opportunities here. And a wealth of potential. Let us make sure that both European and Montenegrin businesses are the ones that benefit.

Long live Europe.