Sergej Kapustin, member of the Board of Directors of CKB bank responsible for the Risk Management Sector, in an author's text published on LinkedIn on the occasion of 20 years of independence of Montenegro, assessed that the country has a chance to make a strong economic breakthrough in the next two decades and become one of the leading European centers for international business.
Kapustin believes that Montenegro is already an extremely high-quality place to live, but that the next development phase should be aimed at creating an environment that would attract international companies, global talents and headquarters of large companies.
He states in the text that Montenegro, as a young country, has the energy and opportunities that remind a young professional at the beginning of his career, and he mentions small and agile economies such as Singapore, Malta, Ireland, Cyprus and Monaco as possible development models.
Below we present his author's text:
Is Montenegro the next Singapore of Europe? My view on the next 20 years
This week marks the 20th anniversary of the independence of Montenegro. Living and working here, it's hard not to think about what this turning point means - not only historically, but also for the future of the country.
Montenegro is an incredibly warm place. The climate and nature are stunning, but it's the people who make the real difference. It is a culture that still prioritizes personal ties and family traditions. Whenever I travel to Europe, I am struck by the contrast: everyone is buried in their devices. Here, people still sit in cafes, talk face-to-face and keep those important social ties. I sincerely believe that it makes society happier.
As director of risk management in the largest bank in the country, I am proud to play a role in the development of Montenegro. Whether it's about financing key national projects, setting higher professional banking standards or opening the CKB Academy to equip talented young Montenegrins with new skills, I see momentum building every day. With the EU accession road ahead of us, I truly believe that the country is facing a great economic boost.
Frequent trips give me a certain perspective. To me, a 20-year-old country is just like a 20-year-old young professional: full of energy, with a world of possibilities before her, looking to her older peers to find the right path to take. When I think about the best models of economic development, I look to other small, agile jurisdictions: Singapore, Malta, Ireland, Cyprus and Monaco. What made them successful?
Montenegro is already a fantastic place to live. The next step is to become a leading center for international businesses and corporate headquarters.
To make that leap, we need to put a few proven ingredients in place:
1. A structured, predictable tax system that remains highly competitive on the global stage.
2. Stronger banking support and regulation, built on a transparent KYC framework that gives international businesses security and confidence.
3. Modernized migration laws that remove obstacles for global talent, starting with EU citizens, to move and easily raise their families here.
4. Holistic infrastructure development. This means looking beyond just building highways. To attract global corporate headquarters, we need better year-round air connectivity, world-class healthcare, sustainable public transport and bike lanes, as well as modern, well-designed office spaces.
We have already seen an incredible transformation in our development areas. The country successfully combines traditional summer rentals with true 5-star, "boutique" experiences for travelers with high spending power.
My hope is that in 20 years we will see the same kind of breakthrough in the wider economy.