Foreign investment is not a threat but a valuable opportunity—if directed and utilized properly. This is the key message from Romy Hawatt, an Australian entrepreneur and philanthropist of Lebanese origin, who was among the first foreign investors in Montenegro. Hawatt played a pivotal role in the sale of the luxury Porto Montenegro complex to the Investment Corporation of Dubai (ICD).

As CEO of the Dubai-based Riana Group and founder of the international pilot training network Airways Aviation, Hawatt has a deep understanding of strategic investments. In an interview with Pobjeda, he discusses Montenegro’s untapped potential, the importance of strategic partnerships, and the sectors he believes are ripe for investment today.

His journey as an investor in Montenegro began in Tivat, where he witnessed the transformation of a neglected shipyard into Porto Montenegro—a now-iconic symbol of the country’s modernization.

When asked whether foreign investment is still the primary engine of economic growth or whether Montenegro should focus more on domestic resources and private enterprise, Hawatt offered a balanced view:

“It’s not about choosing one over the other—it’s about both. Foreign investments continue to be a major driver of Montenegro’s development and likely will remain so. With a population of only 650,000, the country doesn’t have the internal capital or demand to fuel large-scale development on its own—and that’s perfectly fine.”

Hawatt, who has invested extensively in Porto Montenegro over more than a decade, emphasizes that foreign investment should be seen as a means of strengthening domestic industries, not replacing them.

“It’s not about foreigners taking over everything. When done right, foreign investment can empower local businesses, spark new industries, and foster economic growth. The key is to invest in initiatives that serve citizens, residents, and tourists alike—investments that respect the environment and leave a lasting legacy.”

Addressing concerns about the impact of foreign investment on national identity and social security, Hawatt adds:

“I understand the concerns of those who are protective of their social fabric, but foreign direct investment, if managed wisely and inclusively, can actually uphold and enhance those values. It brings income, innovation, and a better quality of life.”

He describes Montenegro as a small yet strategically located country, rich in natural beauty and potential.

“This is a country with real promise—if development is approached thoughtfully, with openness to collaboration and a long-term perspective. When I first visited Tivat, before Porto Montenegro was developed, it was quiet and underdeveloped. The old Yugoslav shipyard was a serious environmental issue and a visual blight. The town lacked identity, charm, and livability. Very few people outside the region had even heard of it.”

Now, nearly two decades after Montenegro’s independence, Hawatt says the transformation is nothing short of remarkable.

“Today, Tivat is energized—home to the luxury Porto Montenegro complex, international visitors, and a vibrant new atmosphere. Of course, development should always be balanced and inclusive, but the benefits are tangible: job creation, improved infrastructure, modern facilities, and enhanced global visibility. This progress translates into real opportunities for locals and contributes to GDP growth—funding roads, hospitals, schools, and other vital services.”

Hawatt also emphasizes that foreign investment does not have to come at the expense of cultural identity.

“On the contrary, when done right, it can help preserve and promote local culture while driving economic value. It’s crucial that the government and citizens provide young people with reasons to stay and build their lives here, rather than contributing to brain drain.”

When asked which sectors hold the greatest potential for future investment, Hawatt points to several key areas:

“Tourism remains vital, but its next phase should focus on higher-value experiences—eco-tourism, wellness, and cultural heritage. People no longer travel just for beaches; they seek unique, enriching experiences. Renewable energy is another huge opportunity. Montenegro has excellent natural conditions for solar, wind, and hydropower. With the right organization, the country can become energy self-sufficient and even export power.”

He also sees strong potential in tech and digital services.

“With the rise of remote work, Montenegro—with better infrastructure and promotion—could become a popular destination for digital nomads.”

Commenting on recent reports about interest from prominent Emirati investor Mohamed Alabbar, Hawatt stresses the importance of institutional trust.

“If Montenegro wants to attract serious investors like Mr. Alabbar, it must offer confidence in its institutions, systems, and legal frameworks. Unfortunately, I’ve seen media coverage and political discourse that, in my opinion, sends the wrong signal to potential investors. That needs to change.”

Having facilitated the sale of Porto Montenegro to ICD in 2015/2016, Hawatt brings firsthand experience.

“I believe that with greater transparency, reduced bureaucracy, and genuine support for both domestic and foreign entrepreneurs, Montenegro can create win-win outcomes. Even proponents of a stronger state model can benefit. It’s not an ‘either-or’ situation—well-managed foreign investment can significantly enhance the domestic economy.”

Looking back over the past decade, Hawatt acknowledges Montenegro’s ups and downs but believes the overall trajectory is positive.

“GDP is growing, foreign investor interest is increasing—albeit unevenly—and infrastructure development is expanding. Tourism has driven much of the growth, but the future lies in sectors like green energy, organic agriculture, digital services, and education.”

He concludes by highlighting how these industries can align with local values and provide meaningful opportunities.

“They offer stable, purpose-driven employment. Picture a young farmer exporting organic medicinal herbs, or a developer working remotely from Podgorica, Budva, or Tivat for a company in Berlin, London, or Dubai. That’s the kind of development that blends global reach with local roots.”

(Pobjeda.me)