27 October 2019 - Marriott International, Inc. recently announced the signing of a milestone agreement with Northstar D.O.O. to bring The Ritz-Carlton brand to Montenegro. Under the plan funded by Al Yasra, The Ritz-Carlton, Montenegro and The Ritz-Carlton Residences, Montenegro is scheduled to bring the brand’s unrivalled elegance and legendary service to the country in 2023.

“With its striking views of the Adriatic coast, Montenegro has quickly become a favourite Mediterranean destination for global travellers,” said Carlton Ervin, Chief Development Officer – Europe, Marriott International. “The signing of The Ritz-Carlton, Montenegro, highlights the demand for our luxury brands in this exciting region. Combining the country’s serene, natural beauty, together with the brand’s legendary service, makes Montenegro the perfect destination for The Ritz-Carlton guest.”

Slated to rise in a prime position on the Western tip of the chic Luštica Peninsula, the hotel and residences are expected to boast panoramic views over the glittering Adriatic Sea. Planned to be accessible by car in 30 minutes from Tivat International Airport or two hours from Dubrovnik International Airport, the coastal property is expected to allow guests and residents to have an unforgettable entrance via the sea at a planned private jetty.

Design plans for the hotel’s 120 elegantly appointed guestrooms and suites envision relaxing sanctuaries for guests, with simple local design planned to merge discreetly with contemporary technology, all to enhance the natural beauty of the location. The project’s plans call for low-rise buildings that would blend into the terrain while maximizing sea and sunset views for guests, residents and visitors alike. The powerful backdrop of the Adriatic is expected to highlight planned recreational amenities, including the property’s main restaurant, two specialty restaurants, a beach bar, indoor and outdoor pools, a salt-water Lido pool, a world-class spa and fitness room, and well-equipped Ritz Kids and Teen clubs.

Plans call for expansive outdoor event spaces with unobstructed views to create ideal settings for hosting memorable gatherings, alongside creative pop-up activations offering seasonal bar and restaurant options. Adventurous activities, such as mountain biking and nature trail hikes, are also being planned for guests to enjoy. Ambassadors of the Environment, a hands-on, educational program developed by Jean-Michel Cousteau’s Ocean Futures Society in collaboration with The Ritz Carlton, is expected to offer programming that highlights the extraordinary natural reserves surrounding the property, striving to encourage guests of all ages to understand how their actions can help preserve natural resources for future generations.

“The success achieved on this project, bringing the legendary Ritz-Carlton brand to Montenegro, is a result of dedicated work by all parties involved, both from our company, Marriott International, and the Government of Montenegro,” said Mohamed Al Sager, Chairman, Al Yasra. “This is not only a business success, but a personal accomplishment as well. When I first visited Montenegro on holiday, I fell in love with the natural beauty of the country and knew I wanted to be a part of its future development. What began as just a dream has today become a great project on a clear path of execution."

The hotel and residences are planned as part of a mixed-use development that is poised to include sprawling villas, manicured gardens, a yacht club and a sparkling beach cove. The Ritz-Carlton Residences, Montenegro, is expected to offer 180 apartments and 48 villas and is scheduled to complete the first phase of construction in 2023, with the final phase scheduled for completion by 2028. Residential sales are slated to begin in 2020.

"Germany is ready to give Montenegro support and assistance in efforts to further improve the environment," it was concluded after a series of meetings were held in Berlin between the Minister of Sustainable Development and Tourism Pavle Radulovic with representatives of the Bundestag and the ministry.

At a meeting with the Federal Minister for the Environment, Nature Protection and Nuclear Safety, Radulovic requested expert assistance, especially for the projects related to the environment and sustainable development.

A ministry delegation led by Radulovic presented the results of the protection of Ulcinj's “Solana” (Salt Plant), and also discussed the conservation of protected sites such as Tara Canyon, Skadar Lake, and national parks.

There was a high degree of agreement on the above issues, with the decision to deepen further cooperation with operational meetings between the two countries' institutions. Radulovic and Minister Schulz noted with satisfaction that the Government's efforts so far have been fruitful and that since the opening of Chapter 27, there has been significant progress, among other things, that “Solana” is now protected both locally and internationally.

At a meeting with the Chairman of the Bundestag Tourism Committee Sebastian Mince Maker and the members of the committee, Radulovic presented the results of the tourism industry, which is improving year by year.

The German side is pleased that an increasing number of their tourists are visiting Montenegro, emphasizing their willingness to cooperate in tourism through the opening of new direct flights between the two countries.

The Minister also met with members of the Working Party on the Environment, Alliance 90 / Greens, as well as with President Zilvia Koting-Ul and members of the Committee on the Environment, Nature Conservation and Safety of the Bundestag Nuclear Reactors.

Text by Vijesti online, on October 24th, 2019, read more at Vijesti

Several construction companies from Cetinje will participate in a €34.5 million tender to build the part of the road that will connect Cetinje to Niksic.

The Traffic Administration has selected a bid from the company "Briv construction" from Kotor, including several subcontractors, out of the four bids received for the construction of the section from Cetinje to Cevo.

"The long-awaited road construction project that will connect Cetinje to Niksic should finally begin. This has particularly pleased Cetinje's business people because the construction of this road is of the utmost importance and is a prerequisite for a more dynamic development of the area. Some of them will engage in the construction by employing their own construction plant.

"Vectors"(Photo: "Vectors")

The companies 'Vectors', 'Krivokapicinvest' and other construction companies from Cetinje have agreed to cooperate with the selected contractor and believe that by their engagement, they will give their full contribution to this project," stated “Vectors”.

 "Vectors" will hire about 60 people, while other companies from Cetinje are expected to hire 40 more.

Illustration (Photo: "Vectors")

About 100 Cetinje citizens will be engaged in this project.

“Vectors” says that this will mean a lot to Cetinje and the whole of Katun Nahija in the further development.

The section of the road from Cetinje to Cevo should be completed in three years.

Text by Promo, on October 24th, 2019, read more at Vijesti

The government has approved a proposal for a concession contract for the construction of three small hydropower plants (SHPP) - Crnja, Ljubaštica and Crni potok - located on the Crnja watercourse in the municipality of Kolašin.

The concessionaire with whom the contract is to be signed is the company Dekar, represented by Momcilo Miranovic.

The contract proposal defines the concession to be granted for 29 years.

"The Concessionaire is obliged to pay to the Budget of Montenegro the concession fee established in the tender procedure, which amounts to 10 percent of the sales value of electricity produced annually. The municipality in whose territory the HPP is located shall pay an amount of two percent of the selling value of electricity produced annually for the improvement of the infrastructure, following the bid that is an integral part of this contract.

Text by Marija Mirjacic, on October 24th, 2019, read more at Vijesti

24 October 2019 - According to the new World Bank Report - Doing Business 2020, Montenegro took 50^th place on the list of 190 countries ranked using the “ ease of doing business ” criteria. Compared to last year's Report, Montenegro increased its rating for 1.07 points (from 72.73 to 73.8) and maintained the same rank.

Doing Business 2020 is the 17th in a series of annual studies investigating the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies— from Afghanistan to Zimbabwe—and over time.

The report covers indicators affecting 12 areas of the life of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, employing workers, and contracting with the government. The indicators are used to analyse economic outcomes and identify what reforms of business regulation have worked, where, and why. Data in Doing Business 2020 are current as of May 1, 2019.

In terms of Montenegro’s ranking, the most significant progress was made in the area of building permits, where Montenegro improved 35 places in the rankings in this area, now reaching the 40^th place on the ease of getting a building permit list. In comparison to last year, according to the methodology used by the World Bank, Montenegro significantly reduced the cost and time required to obtain a building permit.  Such progress is a confirmation that the World Bank recognizes continuous efforts that Montenegro makes in the area of getting building permits, and above all, the effort to establish a new legal framework in this area, which was achieved in 2017.

Montenegro’s progress has also been evident in the area of cross – border trade. This indicator treats the procedures for import and export. Montenegro has improved six places in the ranking by reducing the time and costs required for import and the costs of export.

In the area of obtaining connections for electricity, Montenegro reduced the necessary time and costs, but the rank remained unchanged.

For other indicators, there was no change in the ratings compared to last year, and corrections in the rank are the result of the intensive reform processes implemented by other countries.

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

Traders largely respected the legal norm on introducing non-working Sundays, as a total of three violators, that is, two companies and one entrepreneur, were found in the entire territory of Montenegro within 24 hours, the Inspection Directorate announced.

On Sunday, the Market Inspectorate conducted an inspection to enforce the agreed obligation under the Internal Trade Act that wholesale and retail trade cannot work on Sundays.

“In all three cases, the inspectors charged the company for a fine of EUR 1,000 and a responsible person in the company EUR 200 for the offense committed. For the two companies, the total amount of the fine was 2.4 thousand euros," the statement said.

The entrepreneur was fined 300 euros.

"In addition to the fine for the offense, the inspectors in all three cases closed the shops for the period during which the work was not allowed," the Administration said.

The supervision, they recalled, included all wholesale and retail facilities in all municipalities.

"The surveillance was organized throughout the day and began in the early hours of the night, that is, from Saturday to Sunday, from midnight and lasted 24 hours," the statement said.

All market inspectors were engaged in this supervision, who visited all the shops located on the terrain where they were in charge of.

"The work of the duty inspector was organized at the headquarters of the Market Inspectorate in Podgorica, which received phone reports and answered the citizens' questions during the day," the Administration said.

In Montenegro, October 20^th was the first non-working Sunday for employees in the trade sector.

On Sundays and public holidays, the wholesale and retail trade may be carried out in pharmacies, specialty shops or kiosks for the sale of bread, bakery products and cakes, flowers, souvenirs, press, plant protection products or funeral equipment, gas stations and retail stores within the gas stations.

Wholesale and retail trade can also be carried out at green markets, stands - counters, showcases and vending machines outside the markets and mobile shops, kiosks and vending machines located within closed areas of bus and train stations, airports and ports, stands and kiosks which sell goods during events, festivals and manifestations, fairs and during the public display of cinematographic works, as well as warehouses for the wholesale trade.

Specialty shops or kiosks are considered to be shops or kiosks where the sale of mainly one type of goods is carried out.

Text by MINA Business on October 22nd, 2019, read more at Vijesti

22 October 2019 - The Gvozd wind farm will be of even better quality than Krnovo, due to its great energy potential as the wind speed reaches 17 meters per second in that area. This wind farm will produce electricity enough to meet the needs of 25.000 households, said Krešimir Čondić, CEO of Austria’s IVICOM Holding GmbH.

Renewable energy resources, as strategic commitment of the Electric Power Company of Montenegro and the Gvozd wind farm project, were considered today in the meeting of the Committee on Energy and Mining.

Only one part of the wind potential of the Krnovo plateau has been used in the construction of the Krnovo wind farm.

Gvozd wind farm is expected to have 54,6 MW and to produce approximately 150 kWh of electricity.

The beginning of the construction is the spring of 2021. Works are expected to take 18 months and the wind farm is expected to become fully operational in autumn of 2022. This investment is worth around 60 million EUR, reports Cafe del Montenegro.

Individual wind generators will have 4230/4430 KW of nominal power.

The future wind farm will require the construction of infrastructure, reconstruction of the existing roads and construction of new ones, with the aim of connecting certain wind aggregates.

"Gvozd will be of great quality, even higher than Krnovo," said Čondić.

Director of the sector of Electricity transmission Jagoš Pupović said that they were considering variants for the optimal solution for connecting Krnovo to the energy system.

Head of development and engineering at Electric Power Company of Montenegro Ivan Mrvaljević acquainted members of the Committee with the renewable energy resources to be valued through some modernization projects and ecological reconstructions. He added that the modernization of hydropower plants represented a very important project. Reconstruction of the oldest plant "Perućica" will increase its installed power by 58,5 MW.

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