Dr Dritan Abazovi, who has served as Montenegro’s prime minister since 28 April 2022, recently reported on his meeting with two executives from the FinTech company Ripple.
Montenegro is a tiny Balkan nation located in Southeastern Europe. Boskovic wrote: As a primary driver of sustainable development, the ability to alter the status quo is crucial. Financial services that depend on digital advances are quickly reshaping markets, and the Covid-19 epidemic has hastened this transformation. Many nations are now attempting to catch up.
Depending on a country’s degree of development, market size, or even its geographic location, fostering innovation presents a number of unique problems. Small markets are confronted with obstacles that are far more difficult than those in industrialized economies.
However, Singapore, Luxembourg, and Malta are among the leading nations. Their forward-thinking ideas have paid off, and they are now seen as role models by many. The crucial issue is if their achievement is readily replicable.
As technology progresses, the problem of small nations’ insufficient physical and human resources only worsens. Their government struggles to promote innovation, namely the buildup of innovative skills. To create, execute, and coordinate an effective policy, policymakers must take into account all factors that impact the accumulation of physical, human, and intellectual capital.
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