UAE aim at taking over main sea port of Montenegro

Sea Port of Bar in Montenegro
Sea Port of Bar in Montenegro

Podgorica, Montenegro | 30 Jan 2019 (Tirana Echo) – The United Arab Emirates are looking to acquire Montenegro’s largest port of Bar, as representatives of companies run by the ruling Al Nahyan family plan to visit the small Balkan country this week.

According to Podgorica based daily Vijesti, UAE engineers and Abu Dhabi’s ruling Al Nahyan family representatives will be visiting the coastal city of Bar this week to check on the country’s main sea port which is currently operating with an annual financial loss and significantly below its potential capacities.

The country’s authorities have been desperate to expand its international connections, recently announcing plans for a new Bar-Belgrade highway which will open access to Serbia and other central European markets.

Although Montenegro’s government has not officially confirmed plans for the privatization of the port, drafting of necessary legal acts are under way reportedly while the country’s President Milo Djukanovic was recently in the UAE to lure interest in the port.  

The United Arab Emirates have in recent years been strengthening their presence in the Balkans, notably in Serbia where investments run into billions of dollars.

Mohammed bin Zayed, the de facto ruler of the United Arab Emirates, has identified Serbia as the main destination in the western Balkans for his country’s efforts to diversify its economy before oil runs out, and plans to extend into Montenegro confirm bin Zayed’s plans to grow its investment portfolio in the Balkans.

Copyright @2019  Al Rights Reserved