International Finance Corporation – Tourism Investment Climate Diagnostic Montenegro
What: In response to a request from the Government of Montenegro, the Foreign Investment Advisory Service of the International Finance Corporation applied its mini-diagnostic tool to conduct an assessment of the investment climate and “Business Enabling Environment” (BEE) in Montenegro.
Activities & Services:
The FIAS/BEE process focused on tourism and brought together a multi-disciplinary team of experts and that drew on a range of existing resources and analyses to:
- Assess the legal framework for doing business;
- Identify the main policy and regulatory impediments to private investment;
- Propose options for designing reform solutions; and
- Develop a framework for possible follow-up advisory work.
Given the importance of the tourism sector for Montenegro, the project examined the relevant policy and regulatory constraints facing tourism investors/operators to highlight the impact of such constraints on the BEE and underscore the importance of addressing them to compete successfully in its strategic sectors.
Project Relevance:
The project was designed to include:
- Institutional strengthening
- Organizational change
- Capacity building.
Results:
The strategy for overcoming the short-term capacity constraints identified resources for the following:
- Engaging suitably qualified and experienced local consultants
- Engaging in well-orchestrated, adequately-resourced, and technically sound capacity building and knowledge transfer activities
- Building a process of transferring responsibilities to trained staff.
