The capital market in Montenegro has problems with foreign investments and an opportunity should be sought in the tourism sector, it was assessed at the panel “Stock markets-innovations and future trends”, which was held as part of the first international conference “Montenegro Financial Markets”, organized by the Commission for the Capital Market Montenegro.
The President of the Board of Directors of the Montenegro Stock Exchange, Nemanja Boljević, said that the capital market in Montenegro ranges from EUR 3 to 3.5 billion.
“We are far from the region, but we want to be present. It would be interesting if the Government issued bonds on the Montenegro Stock Exchange. The government has a partner in us and we need to work on other securities that can be issued on our stock exchange. We believe that we have to follow the things that are happening in the Region because we want to be more present on the market”, said Boljević.
The panel could hear that the world’s capital markets have gone through an interesting period in the past few years.
Ivana Gažić, Chairperson of the Board of Directors of the Zagreb Stock Exchange, said that after the crisis in 2008, Croatia realized that they had to adapt to the European environment.
“We had to look for other sources of income in order for our stock market to be strong and resilient. The dynamics of innovation in our sector is fast and we are trying to adapt and this will allow us to better serve the market with lower costs”, said Gažić.
During the corona crisis, all countries experienced the same problems on the capital market, according to Guzhan Gulay, vice president of the Istanbul Stock Exchange.
He is of the opinion that all markets have gone through an interesting period and that technology and financial literacy are key to the further development of the capital market.
“There were financial difficulties due to the pandemic, economic traffic stopped for a certain period. As a solution, many reduced interest rates and provided financial support. This led to an increase in the number of investors in certain markets”, said Gulay.
Digitization is very important in the capital market, so many countries were forced to adapt to new challenges.
“We founded the green academy in 2020 because we saw that there is a lack of understanding of the standards used at the international level. We are willing to share this knowledge with everyone”, said Paula Redondo, Head of Regulatory Affairs and Listing at the Luxembourg Stock Exchange.
The director of the stock exchange in Bucharest, Adrian Tanase, says that they have a capital market development strategy in that country. It is necessary, he says, to work on increasing liquidity.
He said that he is optimistic about the capital market in Montenegro.
It was said at the meeting that the capital market in Montenegro has problems with foreign investments, and that we should look for a chance in the tourism sector.
Montenegro business destination. Don’t go there, live there.
