Montenegro offers outstanding investment opportunities, particularly in the renewable energy sector, according to the country’s Minister of Mines, Oil, and Gas and Coordinator of the Ministry of Energy, Admir Šahmanović.
At the Economic Dialogue Montenegro–Italy roundtable, organized by the Embassy of Italy and the Italian Trade Agency (ICE) in collaboration with the Chamber of Commerce (PKCG), Šahmanović called for stronger cooperation in the energy sector.
Šahmanović emphasized that planned solar and wind power plants could increase production capacity from the current one gigawatt (GW) to five GW, which represents a significant potential for the country’s energy transition and long-term supply stability.
Additionally, he highlighted the importance of further developing the electricity connection with Italy through the construction of a second subsea cable, which would increase transmission capacity and ensure greater energy security.
Along with renewable energy sources, Šahmanović also pointed out the significant opportunities in the mining sector, stressing the need for a more detailed analysis of existing resources.
“Montenegro possesses valuable mineral resources that we must carefully assess and use sustainably. The coal mine in Berane and significant amounts of raw materials for cement production in Pljevlja open up space for serious investments and industrial development,” said Šahmanović.
He added that strategic partners are needed to contribute to the modernization of the sector while adhering to the highest environmental standards.
Nina Drakić, President of the PKCG, highlighted the long-standing friendly and economic ties between Montenegro and Italy, emphasizing that Montenegro’s economy should follow Italy’s model of diversification to become more competitive and resilient to global changes.
Italian Ambassador Andreina Marsella reminded attendees that this event was the result of previous discussions between the Montenegrin and Italian governments, expressing hope that the final B2B and B2G meetings would yield concrete results in the energy, agriculture, and infrastructure sectors.
Antonio Ventresca, Director of ICE, assessed that the event marked the beginning of long-term operational cooperation.
Ministers of Ecology and Tourism, Damjan Ćulafić and Simonida Kordić, also attended the event and presented key projects in their sectors and opportunities for future collaboration with Italian partners.
The Ministry emphasized that Montenegro and Italy already have successful cooperation in the energy sector through the subsea electricity cable, which has allowed stable electricity transmission between the Balkans and the European Union (EU) since 2019.
“The further development of this project through the construction of a second cable line represents a natural step towards strengthening energy security and increasing the use of renewable energy sources in the region,” the statement concludes.
