Podgorica, (MINA-BUSINESS) – According to Monstat, there were 29,960 companies with foreign owners in Montenegro last year, up 23.4 percent year on year.

Monstat stated that 33.2 percent of the total number of the foreign-owned companies were registered in Podgorica, followed by those registered in Budva and Bar.

According to the statistics, the majority of foreign company owners in Montenegro were from Turkey (32.8 percent), Russia (24 percent), Serbia (10.8 percent), and Ukraine (3.6 percent).

Across different sectors, the majority of companies with foreign owners were involved in the retail and wholesale trade and the maintenance of motor vehicles and motorcycles, followed by those from the science, technology and civil engineering sectors.