Business

05 Sep 2019, 18:36 PM

05 September 2019 - During his official visit to London, Minister of Transport and Maritime Affairs Osman Nurković took part in the two – day International conference on road safety on the topic of technology and innovation in the field of road safety with special emphasis on reducing the number of traffic accidents that result in serious injury or death cases and new systems of security that can be applied in order to achieve mentioned goal. Therefore, the conference presented new developments in the area of autonomous vehicles, electric and environmentally friendly forms of transport, as well as best practice and expertise related to global challenges in the road safety area. The conference was opened by Baroness Vere of Norbiton, British Parliamentary Under Secretary of State at the Department for Transport Charlotte Vere. 

During his stay in London, Minister Nurković met with representatives of the British companies that are interested in investing and doing business in Montenegro. Special attention is given to the meeting with representatives of the Bechtel, a company that for years has been operating successfully in the Western Balkans region. During the meeting with Minister Nurković, representatives of this company expressed interest in the project of the remaining shares construction of Bar – Boljare highway, the project to build a high speed road along the coastline of the Adriatic - Ionian corridor, furthermore, the meeting discussed the possibilities related to the reconstruction of the Bar – Vrbnica railway, reports Ministry of Transport and Maritime Affairs of Montenegro.

In addition to the Bechtel, Minister Nurković also met with six British companies that are interested in offering its advisory and consulting services on the projects of strategic priorities for the Government of Montenegro. Minister Nurković emphasised that for Montenegro, tourism promotion is significantly important, which is directly related to the investments and transport infrastructure construction. After discussion of the priority projects in the area of infrastructure in Montenegro, Minister Nurković invited all interested British companies to invest and do business in Montenegro. The meeting organised by British Expertise International (BEI) with the support of the British Embassy in Montenegro, in addition to the representatives of BEI, representatives of the companies the WYG, the Roughton International, the IMC Worldwide Limited, the Beckett Rankine and the Strategy International also attended the meeting.

During the bilateral meeting, Ministar Nurković and Baroness Vere signed an Agreement on international road traffic and the Agreement relating to the air transport. 

Ambassador Borislav Banović and independent consultant Bilsana Bibić also attended the meeting.

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

05 Sep 2019, 00:09 AM

04 September 2019 - Montenegro has done a good job and I congratulate you on the results achieved on the fiscal side and in the financial sector, Executive Director of the Belgian – Dutch Constituency in the International Monetary Fund (IMF) Anthony De Lannoy stated at the meeting with Prime Minister Duško Marković.

“You've been successful and we hope you will continue to have success”, Executive Director De Lannoy said.

Prime Minister Duško Marković thanked the IMF for the continued support and partnership, noting some of the Government's successes in the last two and a half years, namely high rates of economic growth, deficit and public debt reduction, income growth, financing current spending from source revenues, as well as an increase in the number of employees and a significant decrease in unemployment.

IMFs De Lannoy Montenegro Achieved Good Results in Financial Development and Fiscal Policy 2

"We are aware that the long – term sustainability of the economy is based on healthy finances. In the next period, we will continue with the activities in order to achieve this goal," PM Marković stated.

According to the report by the Government of Montenegro, the Prime Minister pointed to the strong commitment and activities of the Government in combating the grey economy in all areas and the close cooperation of the competent authorities and the Prosecutor's Office in the prosecution of criminal offences in the area of economic crime.

The Government has achieved good results in the areas of tourism, energy, agriculture, and it is committed to the overall infrastructure strengthening, particularly in the North, as a key precondition for the development and better life for citizens, Prime Minister Marković stressed.

Speaking about the challenges the Government has been tackling, the Prime Minister emphasised that the focus will be placed on overall reforms in the areas of public administration, social and pension policy, and that a set of laws and activities that are under preparation should contribute to achieving better results in these areas.

04 Sep 2019, 14:31 PM

Certified halal companies from Montenegro will participate in the International Halal Industry Fair in Sarajevo at the end of the month.

In Montenegro, halal certificates are held by two companies, while several restaurants, hotels and companies are in the process of obtaining the certificate.

 “The Montenegrin market is slowly opening up to halal, which is very interesting to us. Our agency is interested in holding a presentation of Halal companies in cooperation with the Chamber of Commerce and the Islamic Community, which are interested in doing business according to this standard," said Nermin Hadzic from the Halal Certification Agency at “Sarajevo Halal Fair” presentation.

Sarajevo Halal Fair is the largest specialized halal industry fair organized for the second time by Bosnia Bank International in cooperation with the Islamic Development Bank Group (IsDB) and the Islamic Community in Bosnia and Herzegovina.

The Chamber of Commerce of Montenegro said that halal tourism is increasingly developing and occupies an important place in the overall tourism industry.

"The development of halal tourism is also present in our region, which, by improving tourism infrastructure, strong promotion and coordinated activities of employees of this industry, can be more significantly integrated into the flows of this market," said the Vice President Ljiljana Filipovic.

She also added that the projection is that by 2020, the value of the halal tourism market will be $200 billion. Bosnia Bank International said that the total value of the world halal market is $ 6.5 trillion, out of which 4.5 belongs to the financial sector.

The Ministry of Agriculture and Rural Development supports the introduction of halal standards, covering 50 percent of consultancy costs, with a maximum value of €8,000.

The fair will be held from 26 to 28 September at “Skenderija” and will bring together representatives of the halal industry from almost every continent, as well as multinational companies that are present in the global market with this type of products. Last year, the fair featured more than 10,000 visitors, 600 business participants, companies, public and private institutions, orgnizations, associations from more than 30 countries, as well as 91 exhibitors from 13 countries.

Text by Damira Kalac, on September 2nd, 2019, read more at Vijesti

04 Sep 2019, 14:29 PM

The new owner of the hotel “Piva” in Pluzine, located on the shore of Piva Lake and the only facility of its kind in the municipality, Dragan Bogdanovic, said that if everything goes according to plan, the doors of the facility, which closed on August 1, 2011, will be reopened within two years.

Born in Piva, Bogdanovic lives and works in Belgrade and became the owner of the hotel in July.

"I bought the hotel, primarily for emotional reasons, because I grew up with it. I plan to renovate the facility as much as possible, to meet all the required standards and to be at an appropriate level," Bogdanovic told “Vijesti”.

He bought the hotel at a public auction for 200 thousand euros. The starting price of the sale was 152,000 euros, and, according to the government's Auction Commission, in addition to Bogdanovic, Veselin Ivanovic from Belgrade and Zeljko Bakrac from Pluzine also submitted applications.

 “I plan to expand the range of offerings, but first we should prepare everything and do it right. I have the support of the local government and I hope that in a year and a half or two, the hotel will be put into operation," Bogdanovic said.

Both the local government and the Nature Park Piva (NP) are pleased that the hotel has acquired a new owner.

 “I am sure that putting the hotel in operation will contribute to even faster and better development of tourism and tourist offer in the municipality of Pluzine. In addition to the importance of tourism development, it is not negligible to mention the job vacancies that this facility will generate. In any case, a critical moment for tourism in Piva”, said the director of NP "Piva”, Slobodan Delic.

The 550-square-meter hotel, with associated land totaling 1,451 square meters, was built in 1976. The property has a basement, ground floor, two floors and attic, restaurant and 44 accommodation units.

The Riviera Budva bought the hotel in 2012 for 300,000 euros and leased the property for one year.

Text by Svetlana Mandic, on September 4th 2019, read more at Vijesti

01 Sep 2019, 12:27 PM

01 September 2019 - Rada Mineral water factory from Bijelo Polje plans to start exporting products as of September, and it will soon begin the production of juices, flavored water and probably energy drinks.

Co-owner of Water group company from Kolašin Boris Rašković said that so far they had been focused on the domestic market only.

"We have planned some new products from the beginning. As for juices and flavored water, we expect that phase to begin next year. We are making plans for starting exporting next month. That is something new, we haven’t done that so far," said Rašković.

Water group bought last year Bjelasica Rada company from Bijelo Polje. It plans to cover the Montenegrin market with Rada products as much as possible, reported Cafe del Montenegro.

Water group co-owner says that they will have a lot of work to do in Montenegro.

"We are not very satisfied with what we have done so far because the market is much bigger and it could be covered better. The market is a living organism and must be dealt with in the long run," pointed out Rašković.

He also said they operated in accordance with plans.

"We were a little late, but we are satisfied anyway. It was not simple to enter the market. The very beginning of the season wasn’t very satisfactory, but we managed to go even beyond our expectations," stressed out Rašković.

Representatives of Water group point out that they are very satisfied with the reaction of buyers.

"They are happy and we are happy. We expect September and October to be strong," stated Rašković on this occasion.

The factory currently county 20 employees. The number is expected to increase with the market opening.

"Increasing production requires investments. I will not provide you with details now, and we have not made our decisions yet. But there will definitely be more investments in the factory, infrastructure, sale network," concluded Rašković.

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

31 Aug 2019, 19:35 PM
  1. August 2019 - Mayors of Tivat and Kotor, Sinisa Kusovac and Zeljko Aprcovic signed annex4A and annex3 contracts with the representative of the German company WTE Hubert Schuter, which created the necessary conditions for taking over the wastewater treatment plant. The two documents were also signed by the directors of the water utilities of Tivat and Kotor, Alen Krivokapić and Safet Luković. These documents specify that within 90 days it should be defined and specified that by February 28, 2020, the WTE should leave the wastewater treatment plant to Tivat and Kotor, said mayor Siniša Kusovac.

During this period, complete staff training will be conducted. 

"Under the WTE monitoring, another 42-day test should be carried out and the technical correctness of the water checked. During that period, the technical acceptance of the complete facility should be carried out. This is especially important because of the company Lustica Development and in the forthcoming period it is necessary to consider the modalities of delivery of technical water, its correctness and the possibility of water supply to the golf course", Kusovac explained.

The agreement between the two mayors and municipalities specified that the expropriation of land in Klačina and the costs on that basis were the obligations of the Municipality of Tivat. The municipality of Tivat and Kotor will specify the costs of management, ie what quantities of wastewater are coming from Kotor, and how much from Tivat and on that parity will be made the costs and obligations will be paid.

Kusovac stated that the members of the Board of Directors were also changed, the Statute was amended and, accordingly, competition and selection of staff would be announced in order to start training as soon as possible, so that the management structure should now only take care of that company, Kusovac said.

Wastewater treatment plant for Tivat and Kotor municipalities was put into operation in July 2016.

EUR 10.3 million has been invested in this investment.

Source Radio Tivat 

 

 

31 Aug 2019, 15:04 PM
  1. 31. August 2019 - Wines of the company 13. Jul - Plantaže continued with a gold string of medals at the world's largest competitions, announced the PRiSMA-corporate communications, authorized PR agency of „13. Jul Plantaze” company.

New international recognition for Montenegrin wines comes from the recently concluded China Wine & Spirits Awards, the largest and most prestigious competition in China. Plantaže had sent samples that won nine medals: seven gold, one silver and one bronze medal.

Malvasia wine 2017 has won Double gold. Gold was also awarded to Vranac 2015, Epoch 2013, Premier 2011, Vranac Barrique 2015 and Vranac Reserve 2013. The silver medal went to Vranac Pro Corde 2015, while Vladika 2015 won bronze in this prestigious Chinese competition.

Over 100 international judges, composed of distributors, trade wines, sommeliers of wines and spirits, blindly evaluated wines from 55 countries. The award-winning Plantaže products have received numerous awards all over the world so far, and this is just another confirmation of their superior quality, as concluded in the announcement.

Over half a century, the Montenegrin company 13. Jul - Plantaže represents one of the greatest and most important producers of grapes, wines and grape brandy in Southeast Europe. It owns a unique vineyard in a single complex, covering an impressive area of cc.2.300 ha. Nowadays, Plantaže produces cc.22 million kilos of grapes annually, selling more than 16 million bottled products in over 40 countries in the world. Plantaže is recognisable by the authentic products, made of the authentic grape varieties. Each wine is different because it has been made in a particular place and a single vineyard, as said on the official website of the company - https://www.plantaze.com/en/o-nama/

30 Aug 2019, 20:30 PM

30 August 2019 - Meeting of shareholders of Electric Power Company of Montenegro adopted at the session that recently took place in Nikšić decision on granting investment for joint construction of Gvozd win farm with Ivica Holding GmbH company from Austria. The investment is worth 58 million EUR.

It was stated that last year was one of the most successful years ever since the company was formed. Electric Power Company of Montenegro recorded an income of 60 million EUR.

"All companies within Electric Power Company of Montenegro record positive performance. Unifying thermal energy complex in Pljevlja was a good decision," said the representatives of the company

The net result of Electric Power Company of Montenegro in 2018 totals 44.076.758 EUR.

"Total electricity production in 2018 reached 3.484,2 GWh, by 59% more than the year before," said the representatives of Electric Power Company of Montenegro.

The hydro situation last year was more favorable than in 2017, leading to higher production in Hydro Power Plant Perućica which amounted to 1.042,3 GWh. Receivables from distributors were reduced in 2018. Shareholders accepted the decision on directing profits to retained earnings. Total retained earnings of the company total 48.602.081 EUR, reports Cafe del Montenegro.

Total capital investments in Electric Power Company of Montenegro reached 14.321.186 EUR in 2018.

"Investments mostly referred to the modernization and new projects," said the representatives of the company.

Mr Đoko Krivokapić, Mr Ranko Milović,Mr  Ljubo Knežević, Mr Samir Hodžić, Mr Vladan Radulović, Mr Srdjan Spaić and Mr Oreste Bramanti were elected members of the Board of Directors.

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

30 Aug 2019, 12:56 PM

The contract, signed two months ago between the Municipality Kolasin and the Ministry of Agriculture and Rural Development, was implemented with the opening of the Agribusiness Center office.

There will be two young agronomists working at the office, who will give explanations, among other things, and advice to farmers, but also help with project writing and documentation completion.

Agronomists Zana Mirkovic and Bojan Despotovic have already begun touring villages and katuni.

"We are presenting to the farmers what they can get and what they should ask from the Agribusiness Center. Also, in the field, we try to spot problems of cattle breeding and crop production, give expert advice, and suggestions. So far, we have visited the part of Sinjavina, Katun Osljak, and Potrk. Katun Bojic. We visited numerous farms, as well as Katun Vranjak on Bjelasica," said the employees in the Agribusiness Center.

For the first seven days of the Agribusiness Center’s opening, the attendance was, they claim, more than satisfactory.

Counseling services in the field of cattle breeding and plant production are most often sought.

"The Agribusiness Center will fill in all the necessary documentation for farmers of various types of premiums and public calls published by the Ministry of Agriculture and Rural Development. It will be required to allow farmers to register at the Agribusiness Center in the future, because so far they were forced to do in neighboring municipalities," explained the Agribusiness Center.

Text by Dragana Scepanovic, on August 25th, 2019, read more at Vijesti

29 Aug 2019, 23:19 PM

29 August 2019 - Prime Minister of Montenegro Duško Marković congratulated the local administration and citizens on the Municipality Day of Kolašin, pointing out that numerous activities to be undertaken will contribute to the accelerated development of Kolašin in the coming years.

At a recent meeting with the representatives of the local government, Prime Minister of Montenegro Duško Marković emphasised the importance of improving road and communal infrastructure, as key preconditions for the city's development and better life of citizens. The Prime Minister, in particular, referred to the construction of the motorway and Kolašin 1600 ski resorts, which create new value not only for this municipality but for the North and the whole of Montenegro. Contribution to improving the quality of infrastructure will also be made through the Capital Budget, which will include several projects related to Kolašin.

Prime Minister Marković praised the efforts of the local administration to stabilise public finances and encouraged them to continue and achieve even better results in that regard, reports his office.

Mayor of the town Milosav Bulatović informed Prime Minister of Montenegro Duško Marković about the investment momentum in Kolašin, highlighting that for successful implementation of major projects in tourism it is important to arrange the spatial planning documentation, for which the Government has created assumptions.

He added that the local administration has made progress in the field of agriculture, as well as that they have invested significantly in sports and culture in Kolašin.

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

28 Aug 2019, 20:10 PM

28 August 2019 - Preliminary data published by the Statistical Office of Montenegro shows that the average price of an apartment in Montenegro is higher by 11,6% compared with the same period last year. Economic analyst and professor in the Faculty of Management Herceg Novi Vasilije Kostić, cites reasons why the price of real estate has gone up so drastically.

He pointed out that the number of residential units in Montenegro exceeds the need for them. Besides, real estate purchase is a form of investing that offers specific advantages in comparison to other possibilities.

"By this, I mean poorly-developed securities market," stated Kostić as Cafe del Montenegro reports.

In his opinion, an increase in the price of an apartment square meter in Montenegro is impacted by the fact that our country is a very attractive tourist destination.

"As it is becoming even more attractive, the interest in real estate in Montenegro grows simultaneously," explained Kostić.

Increase in the real estate price is followed by an increase in economic activity, i.e., economic dynamics.

According to data published by the Statistical Office of Montenegro, the average price per square meter in new construction in Podgorica was 1.204 EUR in the second quarter of 2019. At Montenegrin coast, it amounted to 1.368 EUR, in the central region 677 EUR, whereas in the northern region it was 880 EUR.

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

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