September 14 (SeeNews) - The net inflow of foreign direct investments (FDI) in Montenegro rose 7.8% on the year to a preliminary 382.8 million euro ($558 million) in the first seven months of 2009, central bank data showed on Monday.
”Total FDI inflow in Montenegro over this period amounted to 463.3 million euro,” the central bank, CBCG, said in a statement.
“The structure of the FDI inflow significantly changed in comparison with previous years, which were dominated by real estates investments,” CBCG said, adding that investments in local companies and banks increased by 50.8% on the year to 273.3 million euro mostly due to the sale of shares in power utility EPCG and an increase in the banks’ capital.
Investments in real estate totalled 98.7 million euro, down 51% on the year. Intercompany debt was reported at 91.1 million euro.
Total FDI outflow in the seven months through July was 80.5 million euro, down 55.8% from the same period last year.
In the outflow structure, 15.1 million euro, or 18.7% of the total, was related to investment in real estate, while investment of Montenegrin residents in foreign banks and companies was 16.3 million euro, the statement said.
“FDI outflow arising from intercompany debt and the withdrawal of a part of foreign capital from local banks and companies amounted to 49.1 million euro,” the central bank said.
($=0.6867 euro)