Business

21 Aug 2019, 13:36 PM

During the last year, the return of surplus paid contributions for compulsory social insurance was executed for 349 individuals, said the Tax Administration. In 2017, these individuals earned annual gross earnings of more than 52.308, or 4.359 euros per month.

“Bearing in mind that contributions for compulsory social insurance are paid to the amount of earnings calculated by the employer or payer, regardless of whether that amount exceeds the highest annual basis for calculating contributions, to persons who have been paid contributions from the base exceeding the amount of most annually the basics for the calendar year are entitled to a return of surplus contributions paid," as stated from the Tax Administration (TA) .

Representatives of TA pointed out that when it comes to personal income tax, personal income is taxable on this basis in accordance with the Law on Personal Income Tax regardless of the amount of income.

"In accordance with the Rulebook on Reconciliation of the Amount of the Highest Annual Contribution Base, the highest annual Contribution Base for 2017 was EUR 52.308, and last year EUR 53.302," the representatives of the TA stated.

They explained that the area of calculation of compulsory social insurance contributions is governed by the Law on Compulsory Social insurance Contributions and the Rulebook on adjustment of the amount of the highest annual basis for paying the contributions.

“The law and the ordinance prescribe the highest annual gross basis for calculation, not the amount of monthly income on which social insurance contributions are paid, whereby the highest base for calculation is adjusted annually according to the trend of average earnings in Montenegro in the previous calendar year, and according to the data of the administrative authorities responsible for statistics, ”explained the representatives of the TA.

According to Monstat, the average monthly gross earning last year was 766 euros, or 9.192 euros annually. Whereas in 2017, the average monthly gross earnings was EUR 765, or EUR 9.180 annually. The minimum wage in Montenegro was 193 euros until July 1 and has now been increased to 222 euros. Minister of Labor and Social Welfare Kemal Purisic said in May this year that 12 thousand employees in Montenegro received a minimum of EUR 193 and another 42 to 45 thousand employees had a salary between EUR 193 and 222.

Text by Pobjeda, on August 21st, 2019, read more at CdM

21 Aug 2019, 13:19 PM

In September, the Ministry of Sustainable Development and Tourism, in cooperation with the Public Company for the Management of the Marine Property of Montenegro and the Municipality of Budva, will announce an international competition for the preliminary architectural design of the promenade Budva-Becici.

This is the largest infrastructure project that will completely change Budva's layout and the five-kilometer promenade from Old Town to Rafailovici. The present appearance of these promenades is by no means representative, and due to the numerous temporary locations, Budva has become synonymous of a tacky fair for years.

"The theme of the competition will be the conceptual design of the promenade along Slovenska Beach in Budva and the beach in Becici, as well as their connection through Zavala Peninsula with the intersections of the promenade with access roads to the coast and the sea. In addition to pedestrian and recreational paths, the promenade should also have the road for delivery vehicles and emergency vehicles. For the complete design of the promenade, the conceptual design of the lighting, urban furnishing, especially the waste collection device/equipment, should be done. The length of the walking path at the promenade is about five kilometers, "the PR Service of the Public Company "Morsko dobro" told "Vijesti".

The Public Company points out that in the last 30 years, marked by the general social crisis in the former Yugoslavia and the boom in construction and real estate turnover, more buildings have been built along Budva Riviera than in the past.

"The growth of settlements with extremely dynamic construction was more closely followed by a concern for profit than a sense of urban order and the need to preserve the ambient values and the landscaping of public spaces. Coast – Slovenska and Becice beaches and the promenade adjacent to it, are a public space that is a recipient for tourist activities and city functions. It is this zone that is recognized as the busiest part of the municipality in the evenings, and a significant part of the offer spread over this area for years is often evaluated as the segment that devalues the level of quality of the tourist product," said the Public Company.

With the project solution of the infrastructure segment, which is required by the competition, as explained in "Morsko dobro", the state aims to "create an appropriate environment for the interdependent growth of the image of the destination and the potential for its further promotion, but also an attractive space for new entrepreneurial activities".

Prize money €60,000

The international jury of seven members will deal with the evaluation of the competition works, as they point out in "Morsko dobro”.

“A prize fund of around EUR 60,000 is envisaged, while the number and amount of individual awards will be defined in the announcement for the competition. The delivery methods of the designs, as well as other relevant details, will also be announced in the tender’s announcement," said the Public Company.

Text by Vuk Lajovic, on August 21st, 2019, read more at Vijesti

21 Aug 2019, 13:15 PM

Montenegro has in recent years, especially after joining NATO, confirmed the already existing image of a safe and secure destination, which is one of the main factors for a modern tourist when choosing a holiday destination, said PR Manager of the National Tourism Organization (NTO), Nina Vukcevic.

She said in a video statement posted on a Government Twitter account that in 2017, ten percent more tourists visited Montenegro, having realized six percent more overnight stays than in 2016.

"The growth trend was marked last year when we achieved records both in tourist turnover and in tourism revenue," said Vukcevic.

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According to her, from 2016 to last year, there was a significant growth of tourists from the markets of Germany, the United Kingdom, France, Denmark, Norway, the Netherlands, Belgium, the United States of America (USA) and Canada.

"The growth of the aforementioned markets is especially recorded this year," Vukcevic added.

She reminded that in the first four months of 2016, two thousand tourists from Germany visited Montenegro, and today that number is over 30 thousand for the same period.

"It's a really impressive result," Vukcevic concluded.

Text by MINA Business, on August 17th, 2019, read more at Vijesti

20 Aug 2019, 13:14 PM

According to Monstat, the minimum consumer basket in July amounted to EUR 641.6, which is 0.2 percent less than in June.

"Out of the total value of the minimum consumer basket, expenditure on food and non-alcoholic beverages amounted to 270.9 euros, which is 0.4 percent less than in June," the statement said.

Statisticians said expenditures on non-food products and services amounted to 370.7 euros, which is 0.1 percent less than in June.

The minimum consumer basket refers to household consumption, which includes food and non-food products and services, which enables the maintenance of the life and working ability of household members.

The minimum consumer basket complies with the minimum recommendations of the World Health Organization (WHO) and the USDA Food Guide 2010 for a minimum calorie intake of 2.21 thousand calories per person per day.

“The value of the minimum consumer basket is based on data from the Household Budget Survey and the World Bank (WB) recommendations. The value of the minimum consumer basket for a four-person household is the minimum monthly expenditure related to food and non-alcoholic beverages and non-food products and services, ” as said from Monstat.

For calculating minimum expenditures related to food and non-alcoholic beverages, average prices for the current month and monthly quantities in kilograms for a four-member household are used.

Consumer price indices (CPIs) are used to calculate the value of a basket of non-food products and services.

Text by MINA Business, on August 20th, 2019, read more at Vijesti

19 Aug 2019, 23:26 PM

19 August 2019 - The Sports and Recreation Centre, with its accompanying sports facilities, will be built in Tivat, over the next two years, which will contribute to the increase in the number of athletes in that city and to position the city as a sports and recreational destination. This was announced by the Mayor of Tivat, Sinisa Kusovac, on the occasion of the International Karate Seminar held in that city, at which the five-time Karate Champion Rafael Aghayev from Azerbaijan was the lecturer.

"This kind of seminar contributed to getting us in the position to start building a sports complex in Tivat in the next two years. On this occasion, we have already made the decision on the purchase of a certain complex around the Župa Sports Hall, with the aim of building a Sports and Recreation Centre, with accompanying sports facilities,” said Kusovac.

According to him, the basic idea of ​​the guide is that, in addition to Tivat being branded and having a culture at an enviable level, “sports should be a branch that will contribute to the greatest number of athletes' arrivals, and position the Municipality of Tivat as a sports and recreational destination.

"Apart from being a nautical destination, it should be a sports destination as well as a cultural destination," Kusovac said.

He said that this was supported by the next session of the Municipal Assembly, which is scheduled for tomorrow, and at which, he explained, a decision will be made on the purchase of four thousand square meters of land within the Župa sports complex.

"This complex will be rounded up, will have a much larger number of squares, and in the coming period, with the work of architects, a new sports hall, a new sports and recreational center with all facilities will be built at this place," Kusovac said.

He said that the leadership of Tivat Municipality will endeavor to build an indoor swimming pool in that city as long as the spatial planning documentation permits after a certain time, "so that it will be an enviable destination, where the arrival of sports clubs will contribute to the recognition of Tivat in this field."

The most trophy karate player of all time and five-time world champion, Rafael Aghayev, who is a lecturer at the two-day international karate seminar, said that he was in Montenegro for the first time, stating that he would like to come more frequently in the coming period.

"I'll be here for two days. We have two training sessions each day, and today will be another, third training. We know your team very well, we are rivals in competitions, but we are not enemies. After the competition, we are all friends. I want your team to become a world champion, "Aghayev said.

Previously, in the Municipality of Tivat, a reception was organized for Aghayev and the most trophy Montenegrin karate players.

The International Karate Seminar, organized by the Mawashi Club 2015 and the Karate Federation of Montenegro, is attended by around 200 karate players from Montenegro, Bosnia and Herzegovina, Serbia, Croatia and Albania.

Source: Radio Tivat

19 Aug 2019, 13:30 PM

By the end of this year, Tivat Airport will serve over 1 million and 300 thousand passengers, thus breaking the record so far. Airport director Radovan Maric told Radio Montenegro that Terminal 2, which was built less than a year ago, contributed to the reduction of crowds and increases passenger comfort.

According to Maric, the construction of the Terminal is only a transitional solution and he believes that a new airport should be built because of the increasing traffic.

“Tivat Airport was built in the middle of the last century. Then, one or two planes landed on a weekly basis, now there are over 60 planes a day," said Maric.

“Tivat Airport was built in the middle of the last century. Then one or two planes landed on a weekly basis, now it is over 60 planes a day,"  said Maric.

He states that infrastructure has not been following the growth of tourism.

"Earlier, perhaps when Porto Montenegro was being built, a strategic decision should have been made to build a new airport, now all this is unfinished, I will be clear to say even dysfunctional to the extent required by modern travelers," Maric said, adding that Terminal 2 this season contributed much to the relaxation at the airport.

At no point was passenger safety questioned, according to the director of Tivat Airport, and stresses that the recent runway renovation is a regular job at every airport.

The very fact that the German Lufthansa sent its planes to Tivat airport for the first time, considering it completely safe, denies all those who have said otherwise.

"Security has never been questioned, of course, that security can be greater and better," Maric said.

Maric also hopes that an overnight landing and departure of the aircraft from the airport Tivat will be possible soon.

Text by RTCG, on August 18th, 2019, read more at CdM

19 Aug 2019, 10:31 AM

19 August 2019 - From the beginning of the year, the Monteput company, which operates the Sozina tunnel, collected over 6 million EUR from toll payments to use the tunnel Sozina, Cafe del Montenegro reported.

The total revenues from tolls for passenger vehicles amounted to 3,85 million EUR, while 2.2 million EUR was collected from other categories of vehicles.

"The total revenues from tolls at the Sozina tunnel amounted to 6.071.670 euros," the company Monteput announced.

The representatives of the company say that 12.080 vehicles on average pass through the tunnel Sozina daily during the summer season.

"We count that the summer season starts as of 1 June and until 13 August, a total of 12.080 vehicles on average have passed through the tunnel Sozina. There is no crowd at toll booths for most of the week, which means that passengers are waiting just a minute or two," stated the representatives of the company Monteput.

From the beginning of the year to 13 August 2019, 1,76 million vehicles have passed through the tunnel.

In addition, this company issued 230 smart cards from the beginning of the year, as well as 279 TAG devices that removed the need to pay the toll charges using cash.

When it comes to the investment in the tunnel, Monteput changed and put in place a new system of managing the tunnel, which includes protection against explosive concrete spalling with polypropylene fibres, detection of incidents and video surveillance.

Read more news about business in Montenegro at TMN's dedicated page.

18 Aug 2019, 11:09 AM

18 August 2019 - Natural gas that is going to be transported by the Trans-Adriatic gas pipeline, will contribute to decarbonization and its effects will be felt in South-East Europe and Western Balkans primarily, said a representative of TAP for Greece Katerina Papaleksandri.

According to Papaleksandri, energy sectors hinge on hard fossil fuels for electricity production, such as coal and lignite.

"Trans-Adriatic Pipeline will help Europe shift to the economy with low carbon-dioxide share, it will diversify energy supply sources, strengthen European competition and improve the European gas connection. We expect demand for natural gas to increase, since it replaces coal and wood," said Papaleksandri.

Trans-Adriatic Pipeline is part of Trans-Anatolian Pipeline which came into use last summer and is intended to bring gas to the Azerbaijani  Shah Deniz 2 gas field in the Caspian Sea, crossing Turkey to Europe. Trans-Adriatic Pipeline starts at the Greek-Turkish border, goes through Albania, Adriatic Sea and comes ashore in Southern Italy. The first gas deliveries will begin next year.

Papaleksandri said that works in Greece and Albania neared completion and that almost all pipes had been filled and installed.

"Trans-Adriatic Pipeline is currently moving further into the project construction phase. Compressor and dosing stations are being completed, pipeline receiving terminal in Italy as well," pointed out Papaleksandri.

She points out that the European Commission and the EU Member States have recognized the Trans-Adriatic Pipeline as a very important strategic project. The pipeline is 878 kilometers long.

On 1 July, the Trans-Adriatic Pipeline launched a market test, a commercial process through which gas shippers can get access to new, long-term capacities.

Trans-Adriatic Pipeline representative for Greece says that natural gas is the best energy source in conjunction with renewable resources, thanks to its price and natural characteristics.

"Gas, as the cleanest fuel fossil fuel, has clear environmental advantages over other energy sources such as coal and oil," stressed out Papaleksandri, as CdM reports.

She adds that the development of renewable energy resources is crucial to European transition to the economy with low carbon-dioxide share.

"Natural gas will still be part of the divergent energy mix, which includes other energy sources, such as renewable nuclear sources. Europe will need reliable, safe and accessible energy coming from various sources. In accordance with the European Energy Strategy, every EU Member State should have access to at least three electricity supply sources," concluded Papaleksandri.

Trans-Adriatic Pipeline stretch passing through Montenegro is Ionian-Adriatic pipeline. Papaleksandri said that she did not want to comment on other pipeline systems.

"Trans-Adriatic Pipeline remains open for cooperation with IAP promoters," added Papaleksandri.

Read more news about business in Montenegro at TMN's dedicated page.

17 Aug 2019, 16:49 PM

17 August 2019 - Works on the Bar-Boljare highway are going according to plan. The latest video recording made by the Bemax company clearly shows it.

Three bridges have been finished, and the first segment of Moračica has been connected. The bridge is expected to be finished by September. Moračica will be 360 meters long and 23,4 meters wide. Five pillars will support it. The range from the bottom of the Morača riverbed to carriageway construction will amount to more than 200 meters.

The most expensive bridge on the highway priority section, Smokovac-Mateševo, is the Moračica bridge and its cost will be around 74,5 million EUR. The Preslo bridge will cost 1,3 million EUR, said the representatives of the Ministry of Transport and Maritime Affairs of Montenegro.

According to the data, around 205,3 million EUR has been spent on the construction of 20 bridges and 387,6 million EUR has been earmarked for the construction of 16 tunnels on the Bar - Boljare highway. After Moračica, Jabuka bridge is the most expensive (29,3 million EUR). It is followed by Uvac 4 (18 million EUR), Tara 2 (14,6 million EUR) and Tara 1 (8,6 million EUR).

As far as tunnels are concerned, Vjeternik is the most expensive – 66,8 million EUR. Kosman tunnel costs 51,9 million EUR and Vežešnik tunnel costs 44,7 million EUR. Mala trava costs almost 40 million EUR and Jabučki krš 28,4 million EUR. Vitanovice and Pajkov vir will cost 5,9 million EUR and 7,3 million EUR respectively.

Representatives of Bemax company, the biggest sub-contractor of CRBC, said that works would be finished within the established deadline, as Cafe del Montenegro reported.

First highway section is expected to be finished in the middle of 2020.

Read more news about business in Montenegro at TMN's dedicated page.

17 Aug 2019, 16:29 PM

16 August 2019 - Company "Design and CO" from Tivat has obtained approval for building a residential complex in Kavač settlement in Kotor. Conceptual design for another two residential facilities has been approved as well. The complex will consist of 5 buildings and it will have a total of 119 residential units. The project has been approved by Dušan Vuksanović, the acting chief state architect.

Chief Executive Officer of the "Design and CO" company is Sonad Kiliclar, who is also the founder of the company with 51% of the ownership.

Technical description of the facility states that it will be intended for tourists’ residence.

The conceptual design envisages 4 phases of the project. First two phases are currently underway. The first phase entails construction of two residential facilities, Block A and Block B, as well as the construction of a pool with a technical premise. The second phase involves the construction of one residential facility, block C. Phase III entails the construction of a garage with open parking. Phase IV involves the construction of two residential facilities, block D and block E.

Block A will consist of a ground floor, two floors and 36 residential units. Block B consists of a basement, ground floor and it will have 18 flats. Block C will have a basement, ground floor and two floors. It will have 23 flats. These three structures are currently under construction. The garage will have eight parking places. Open parking consists of the lower level, which is naturally sloped and has 101 parking places, and the upper level, which is parallel with the main road. It will have 12 parking places, as Cafe del Montenegro reports.

Block D will have two basement floors, ground floor, two floors and it will have 28 residential units. Block E will have a basement, ground floor and 14 residential units.

Read more news about business in Montenegro at TMN's dedicated page.

15 Aug 2019, 10:57 AM

15 August 2019 - The Ministry of Defense of Montenegro will acquire optoelectronic devices for the units of the Armed Forces of Montenegro. Optoelectronic devices include uncrewed aerial vehicles whose total value is estimated at 322.000 EUR, reported CdM.

Optoelectronic devices are means used for night surveillance and shooting, which convert image from an invisible infra-red area into a visible area.

Units of the army require four thermovision sets, “first responder aerial kit” which includes gyrostabilized camera and an unmanned aerial vehicle (drone) that is able to fly not less than 25 minutes. The Ministry also requested that thermal camera image resolution should not be less than 640 x 512 pixels and that entire kit should have at least two control devices with a screen for monitoring and documenting the identified situation in the field.

The Ministry of Defense is planning to provide the army with two thermal multi-functional devices for target location which can magnify the image by at least six times and which have image resolution not weaker than 1280 x 1024 pixels in limited visibility mode.

Devices must have integrated GPS receiver for exchange of data with commercial GPS systems.

Units of the Armed Forces also need binocular devices for night observation, as well as 28 spyglasses. They will also acquire four thermovision targets capable of detecting humans at a distance of 1.500 meters, recognizing humans at a distance of 600 meters and identifying humans at a distance of 360 meters.

This equipment will cost the Ministry 472.680 EUR and it will include equipment for infantry armament, equipment for Joint Terminal Attack Controller, diving equipment and kit for rescuers. The equipment for infantry armament will cost 33.680 EUR.

JTAC equipment will cost 23.000 EUR, diving equipment will cost 60.000 EUR, whereas equipment for rescuers will cost 34.000 EUR.

According to the Defense Strategy published earlier, the Ministry is planning to train and equip 50% of land forces for taking part and 10% of land forces for sustainable engagement in NATO peace and crisis response operations. The maximum contribution to NATO forces will be the engagement of a reinforced infantry company deployed in two six-month rotations. One infantry company will be engaged to contribute to leading NATO peace and crisis response operations.

Armed Forces will be equipped with 68 light-armored vehicles. By the end of the year, the Ministry should have signed a procurement contract.

The best-equipped armies around the world are extending technological boundaries. One of the fastest-developing weapons is uncrewed aerial vehicle.

For example, M19 Reaper drone has radically changed how the USA is carrying out military operations. It was first used in 2001 and it’s been used in a great number of missions across Iraq, Somalia and Pakistan ever since.

Military drones usually perform reconnaissance, spy and direct military tasks. American Air Force is planning to drastically increase its fleet of uncrewed vehicles in the operational use.

Read more news about business in Montenegro at TMN's dedicated page.

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