Business

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.

15 Aug 2019, 10:35 AM

14 August 2019 - The construction of Boulevard from Jaz to the Tivat Airport (reconstruction of the Adriatic Highway) will start next year. This project will considerably improve the conditions of this section. In summer it is often jammed, with little movement on the roads. The project will cost around 26 million EUR and the construction will take around two years, reports Cafe del Montenegro.

“The tender will be invited at the end of September. By the end of the year, we will know the contractor,” said the Director of Transport Administration Savo Parača.

The development of tender documentation for the contractor is following the procedures established by the European Bank for Reconstruction and Development.

Boulevard will be 16 kilometers long and Parača added that the Regional Water supply system has joined the project. Simultaneously with the construction of boulevard, the extension of capacities of the water supply grid will be well underway.

“The regional water supply system joined the project because it uses the loan granted by the European Bank for Reconstruction and Development. That project is worth between 10 million euros and 12 million euros. We thought it would be much cheaper and faster if we joined these two projects together. Everything has to be done according to European standards,” concluded Parača, using the opportunity to announce another important project.

“Complete reconstruction of the thoroughfare from Kamenovo to Bar is planned. The project is in the final phase. The tender procedure is going to be initiated in autumn,” stated Parača.

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

14 Aug 2019, 13:12 PM

For the first time in its history, the airport in Tivat will soon receive a special vehicle for towing and pushing aircraft on the airport platform (the so-called pushback tug), and the airport in Podgorica will get the vehicle for defrosting.

Montenegro Airports have issued tenders in value of 250,000 for the tug and 360,000 for the defrosting vehicle.

The tug will significantly improve the service of aircraft in Tivat and facilitate the work of ground handling teams and aircraft crews, who are now self-operating, parked on or off the platform of the airport Tivat. A tug with power and dimensions sufficient to serve commercial C-category passenger airplanes weighing up to 90 tons is required.

Special fluid from the defrosting vehicle sprays the wings and tail surfaces of the aircraft. Although the climatic conditions in Podgorica almost never freeze at the airport, AMNE has, after a severe winter a year and a half ago which caused major difficulties in air traffic during several days, opted to purchase this expensive equipment

Tug bids will be received by September 16, and the successful bidder will have 150 days from the date of signing the contract to deliver the new vehicle to Tivat Airport and to train the employees who will use it. The tender for the defrosting vehicle ends on 15 August and the successful tenderer will have 180 days to deliver it.

Text by Sinisa Lukovic, on August 12th, 2019, read more at Vijesti

13 Aug 2019, 21:48 PM

13 August 2019 - There are several projects which are going to be carried out in Ulcinj, says President of the Municipality of Ulcinj Ljoro Nrekić. He announced the construction of salmon farming factory and said that they are currently looking for investors in the tourist complex on Mavrijan hill, near Valdanos, whose estimated value amounts to 1 billion EUR, as CdM reported.

Nrekić stated that he is proud of everything that has been achieved ever since he took over the president function. Financial consolidation was the most important task.

“We have settled all the debts we had,” said Nrkeić.

Numerous projects are set to be carried out in the southernmost Montenegrin municipality. One of them is the construction of a salmon factory. The preparation phase of the project is underway. The construction is expected to begin by the end of the year.

“This project is very important. The factory will be located in Port Milena. We also have the construction of an airport in Ulcinj. Cargo planes will be delivering salmon to Rome for distribution. Around 500 people would have jobs," stressed out Nrekić.

He firmly believes that local administration will find the investor in the construction of five-star tourist complex on Mavrijan hill.

“The complex will consist of bungalows, three hotels, and a casino hotel, marina with 147 berths. It would be a resort and it would definitely boost tourism in Ulcinj and Montenegro,” concluded Nrekić.

The tourist season brings satisfaction to the local administration in Ulcinj. Nrekić also added that there is no development without infrastructure. Works on the construction of water supply system will begin soon.

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

13 Aug 2019, 21:38 PM

13 August 2019 - The construction of the electric power infrastructure to power the future cable cars within the ski complex Cmiljača and Žarski began with the preparation for the installation of the 35/10 substation in Majstorovina in Bijelo Polje.

Prime Minister Duško Marković congratulated President of the Municipality Ranko Mišnić, President of the Municipal Assembly Dragomir Mrdak, members of the Municipal Assembly and citizens on the Municipality Day of Mojkovac - 12 August.

 "This year's holiday in Mojkovac is celebrated in the atmosphere of remarkable results of our country, both internally and externally. I am convinced that the citizens of Mojkovac recognise the efforts the Government is making to develop capital infrastructure and create the preconditions for more dynamic development and better quality of life for each individual. In addition to several other Government projects, the construction of the Žarski ski centre worth nearly 30 million euros will undoubtedly contribute to job creation and give impetus to the local economy," the Prime Minister's congratulatory message reads.

He added that the opportunity to emphasise that the special contribution to the success of our development vision is also provided by local management through a constructive relationship in addressing all outstanding issues in the best interests of citizens of Mojkovac.

"Recognising such efforts, the Government has increased the percentage of income tax concessions by amending the Law on Financing Local Self-Government, which will, among other things, increase the Mojkovac municipality's budget by more than half a million annually euros. I am sure that together we are on the path of overall progress which is quite obvious, I congratulate the citizens of Mojkovac once again on the municipal holiday," Prime Minister Duško Marković noted.

The construction of the electric power infrastructure to power the future cable cars within the ski complex Cmiljača and Žarski began with the preparation for the installation of the 35/10 substation in Majstorovina in Bijelo Polje.

Preliminary works include construction work, to construct a structure for future power equipment.

The value of this investment, which will be financed by the Government of Montenegro through the capital budget, amounts to more than 1.18 million EUR, and the contractor committed to finishing the works within six months from the beginning of the work, i.e. early next year.

The project is part of the activities that the Government is continuously implementing in order to valorise the tourism potential of the north of the country. The installation of cable cars at ski resorts Cmiljača and Žarski has already been contracted and the estimated value of complete investments in the two sites is more than 52 million EUR.

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

12 Aug 2019, 16:30 PM

The Ministry of Economy is launching a new phase of the Energy Efficient Home program aimed at reducing heating costs and increasing household comfort, achieving significant reductions in CO2 emissions, as well as developing a market for heating systems for modern biomass in Montenegro, as announced from the ministry.

The program entails an attractive and sustainable financial mechanism for the implementation of energy efficiency measures in households. For the purpose of this program, the Ministry of Economy has provided EUR 100,000 for subsidizing interest and fees for processing of loans to households in Montenegro that can be used to purchase and install heating systems for modern forms of biomass (pellets, briquettes), which include boilers/furnaces , piping and/or radiators, for the installation of thermal insulation on the facade of a residential building and for the installation of energy-efficient facade joinery.

Within the Program, citizens will be able to apply for interest-free loans up to a maximum amount of 10,000, with a repayment period of up to six (6) years, for the implementation of the above energy efficiency measures in their households, while the Ministry of Economy will subsidize interest and processing costs of loans for the entire loan repayment period. The Ministry of Economy stated that they are implementing this program in cooperation with partner companies that are the leading contractors Mikromont Bijelo Polje, Home Systems Podgorica, Plam Engineering Podgorica, Veneta Plamen Podgorica, Energos Podgorica and the consortium "LD gradnja-Cerovo" Niksic, as well as partner banks Hipotekarna and Lovcen Bank.“ The program foresees that a citizen should contact a qualified contractor to obtain more detailed information on an offer under the Energy Efficient Home program. Upon receiving the offer to perform the works, the citizen applies to the Ministry of Economy, with a request for confirmation that he or she is eligible to participate in the program, with supporting documentation proving that the object on which the works will be performed is legal, that is, in the process of legalization.

The request and supporting documentation can be submitted to the archives of the Ministry of Economy (Rimski trg 46, 81000 Podgorica) in person or by mail or email at This email address is being protected from spambots. You need JavaScript enabled to view it. ”, the Ministry of Economy said.

If the request is approved, the Ministry issues a certificate that the citizen is eligible to participate in the program, after which the citizen applies to the bank for a loan.


Procedures for the implementation of the program "Energy Efficient Home", contacts of partner companies and banks, unit prices of materials, equipment and services offered within the program, application form for obtaining a certificate for participation in the program can be downloaded at www.energetska-efikasnost.me

In the previous phase of the “Energy Efficient Home” program, energy efficiency measures were implemented in 93 households in Montenegro.

This program is a continuation of the earlier “Energy Wood” program, implemented by the Ministry of Economy through three phases since 2013, which has installed around 1,010 pellet and briquette heating systems throughout Montenegro.

Interested citizens can obtain all information regarding the said program by e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. or by calling 020 482 186.

Information on the dynamics of program implementation will be regularly published on the website www.energetska-efikasnost.me

Text by Goran Kapor, on August 7th, 2019, read more at Vijesti

12 Aug 2019, 11:45 AM

12 August 2019 - 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. 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 CdM reports.

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.

Priority section Smokovac-Uvač-Mateševo costs 809,57 million EUR. Chinese Exim bank has earmarked 688,16 million EUR and the remaining 121,44 million EUR has been earmarked in the state budget. China Road and Bridge Corporation has been paid almost 570 million EUR so far.

Representatives of the Ministry of Transport and Maritime Affairs stated that by the end of summer the emphasis will be put on the open-air works which can be influenced by weather conditions.

“Works will entail construction of embankment on all sections, that is, finishing works on embankments parts 1 and 2 and missing parts of the embankment in parts 3 and 4 which are conditioned by the weather,” said the representatives of the Ministry.

“In addition, works entail construction of a layer of special granulation as a finishing layer of embankment which serves as the starting point for the construction of road, construction of reinforced earth walls – a special type of supporting constructions consisting of embankments reinforced by special type of nets,” said the representatives of the Ministry.

CRBC will keep working on tunnels, construction of lining and installations which are not conditioned by the weather.

Total quantities of poured in bridges and tunnels exceed a million of cubic meters.

“Around 240.000 of cubic meters of concrete has been used for the construction of bridges,” pointed out the representatives of the Ministry.

Minister of Transport and Maritime affairs Osman Nurković said that works were expected to be finished in September next year.

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

11 Aug 2019, 12:44 PM

11 August 2019 - Based on the analysis carried out at the end of 2018, the total tax debt amounted to 397,4 million EUR, which is over 190 million EUR less compared to the last three years said Miomir M. Mugoša, head of the Montenegrin Tax Administration as Cafe del Montenegro reported.

“When it comes to the structure of tax debt, the largest part of due liabilities refers to liabilities from taxing salaries, accounting for 40 per cent. However, it is important to mention that a significant decrease in the amount of this tax debt was recorded last year, which points out to the fact that efforts of the Tax Administration and other services to improve tax discipline on the labor market are gradually giving results. Having in mind that over 200 million euros of tax debt refers to taxpayers who have been considered active according to the criteria of Ministry of Finance, the Tax Administration is doing everything it can to collect the largest part of tax claims. On the other hand, a significant part of tax debt belongs to taxpayers who have not been active at all for years and have not been generating income as well, so literally there is no way we can collect tax from this category,” Mugoša explained.

When asked how the Tax Administration is going to collect a 21 million EUR tax debt incurred by the national airline carrier, Montenegro Airlines, and if there is a possibility not to be able to collect it at all Mugoša said that Montenegro Airliner was paying tax liabilities during the whole period of accumulating tax debt.

“First of all, I have to stress that a taxpayer Montenegro Airlines was paying tax liabilities during the whole period of accumulating tax debt, as much as it could due to some business difficulties. However, in the period from 2012 to 2018, the Tax Administration managed to collect around 10 million euros and since then, the company has been regularly paying due liabilities. Taking into account the above-mentioned, as well as the data on the continuous increase in the number of passengers and revenues of this taxpayer thus pointing out to the certain financial potential, I believe it is in the interest of the State and our society to consider ways for ensuring the company’s survival, and that is why this matter will be resolved by the Ministry of Finance, i.e. the Government of Montenegro in due course,” concluded Mugoša.

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

09 Aug 2019, 19:37 PM

9 August 2019 - "Elena", a residential building in Porto Montenegro, named after the Montenegrin princess Jelena Petrovic-Elena of Savoy, will be inaugurated on August 15.

Following the opening of the Baia, the third wing of the Regent Porto Montenegro Hotel, a cocktail party will be organized on August 15 to mark the completion of Elena as another residential facility in this nautical resort.

The celebration is expected to be enlarged by the presence of Princess Jelena's granddaughter, according to Porto Montenegro.

Each of the residential buildings in the nautical settlement is named after a famous female person from Montenegrin history or a famous female toponym.

The Elena facility has 50 luxury apartments - studios, one-bedroom, two-bedroom and three bedroom areas, ranging from 44,37m2 to 565,52m2, with prices ranging from 278,000 euros for 47.47m2 to 5,094,875 euros for a 565.52m2 apartment.

About 20 million euros were invested in the project, and, according to the company, more than 20 Montenegrin companies and over 400 employees were involved in the construction.

"The building does not exceed five floors, the same as previously built residential buildings in the nautical resort. With its completion, a total connection of the main boulevard from Pine to the Synchro lift in the settlement was established. The aim was to enable communication from one side to the other,” said PR manager of Adriatic Marinas/Porto Montenegro, Danilo.Kalezic.

Within Elena there are seven business premises, the so-called kiosks, or smaller spaces in glass with attractive contents. Interesting tenants were selected as well as numerous fashion and home improvement brands.

Adriatic Marinas announces the continuation of construction. Currently, the preparation of the terrain in the northern parcel is going on. It is near the so-called Second gate of the former Arsenal, along the Adriatic Highway (Jadranska magistrala).

“It is about greening the plot, and as soon as the Detailed Site Study is adopted, the construction of a new part of the settlement with very interesting amenities and tenants will begin. The idea is to create a facility with office space as in the centre of the village, but with more affordable prices. The facility will be facing the highway so that when the Arsenal wall is removed, the space will be completely open,”Kalezic explained.

Source: Radio Tivat

08 Aug 2019, 16:59 PM

08 August 2019 - In 2019, the Government allocated over 22 million EUR in the capital budget for Northern Montenegro for the implementation of projects worth over 150 million EUR, whose implementation will continue in the coming period as their representatives announced, bearing in mind that those are predominantly multi-year projects.

The proposed List of Priority Capital Projects for Financing from the State Capital Budget in 2020, adopted by the Government at its 132nd session held on 1 August 2019, contains only the part of projects, that is, only those projects ranked by the criteria evaluation in accordance with the Decision on preparation of capital budget and determination and evaluation of criteria for selection of capital projects. The Decision establishes the basic and additional conditions that the candidate projects must satisfy in order to be considered for financing from the state capital budget, such as the drafted spatial planning documentation, feasibility study, minimum value depending on the type of project, etc.

The Decision also specifies criteria for project evaluation, such as: solved property-legal relations, drafted main project, provision of other sources of financing, contribution to balanced regional and economic development, contribution to the protection and valorisation of cultural heritage, positive impact on the environment, etc. , based on which projects were evaluated and ranked.

Of the 29 capital projects identified in the List Proposal for Northern Montenegro, multi-year projects with a total estimated value of 91 million EUR are predominantly present, and the projects identified in the Final List will be implemented in the following years.

"We emphasise that the proposal of the List of Priority Projects contains only new projects that will potentially be included in the state capital budget for the first time. Namely, according to the Decision, the List does not contain projects that have already been started, that is, included in the capital budget by the Law on a budget of Montenegro for 2019, bearing in mind that according to the Decision they are considered priority projects and their implementation continues in the next period," stated the representatives of the Government of Montenegro.

In addition, projects regarding Northern Montenegro regulated by a special regulation, that is, projects established by the Law on the Motorway and the Law on the Old Royal Capital, are not subject to evaluation criteria in accordance with the Decision, and they are not included in the proposed List of priority projects. Also, the List does not contain projects financed by EU funds through the pre-accession instrument, bearing in mind that IPA funds are earmarked for the purpose of signing an international financing agreement for specific projects, and are implemented in accordance with international procedures.

In this regard, bearing in mind that the Decision on Capital Budget Preparation and Determination and Evaluation of Criteria for Selection of Capital Projects, in accordance with the Law on Budget and Fiscal Responsibility and Determined Dynamics of State Capital Budget Preparation, has now been applied for the first time in practice, a significant number of candidate projects by state institutions and municipalities, namely 134 projects out of a total of 251 applicants, are projects that have already been identified in the capital budget in 2019 and their implementation continues in the future, while the remaining projects have been evaluated according to precisely defined criteria.

Accordingly, the Law on a budget of Montenegro for 2019, within the capital state budget, allocated funds for the beginning and continuation of development projects, which were not subject to the list of priority projects, but their implementation continues in the following period, in the municipalities: Andrijevica, Bar, Berane, Bijelo Polje, Cetinje, Danilovgrad, Gusinje, Herceg Novi, Kolašin, Kotor, Mojkovac, Nikšic, Petnjica, Plav, Pljevlja, Podgorica, Rožaje, Tivat, Tuzi, Šavnik, Ulcinj, Žabljak.

It is also important to emphasise the presence of a strong investment momentum in some municipalities in North Montenegro, which started and is being implemented in the current year, and which will continue in the coming period, given the developmental, multi-year character of these capital projects.

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