The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Montenegro  
Rank: 85 · Score: 42.5  

Basic facts, 2017        
Population (millions) 0.6   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 4.2   M&A volume (quartile) Bottom
GDP per capita (US$) 6,955.8   Venture capital investments (quartile) Bottom
GDP growth (per cent) 3.0   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VCPE Country Attractiveness Index 85 35, 34, 39, 37, 40 42.5
1 Economic Activity 120 5, 5, 6, 5, 5 38.7
2 Depth of Capital Market 87 29, 31, 37, 35, 38 27.7
3 Taxation 74 45, 40, 56, 56, 51 93.7
4 Investor Protection and Corporate Governance 53 83, 81, 76, 73, 72 64.3
5 Human and Social Environment 42 86, 83, 83, 79, 83 55.4
6 Entrepreneurial Opportunities 83 61, 53, 51, 43, 42 46.5


 
Historic performance, 2014-2018   Key driver performance, 2018

   

VCPE Rank  
VC Rank  
PE Rank
Montenegro  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Envorinment
Entrepreneurial Culture
and Deal Opportunites
Macedonia 39.3 29.5 103.3 67.5 58.5 51.6
Serbia 57.6 31.1 85.0 50.1 45.5 52.6
Ukraine 71.5 31.1 100.3 49.0 32.6 52.4
Montenegro 38.7 27.7 93.7 64.3 55.4 46.5
Bosnia-Herzegovina 41.9 23.0 81.9 44.9 37.0 38.8
Belarus 74.0 11.1 98.9 46.0 51.2 53.1
Moldova 56.0 11.7 103.9 53.1 26.4 42.0
Last updated: 4 Feb 2018