May 16, 2017 - Twenty-five organizations and 150 participants from 22 countries will gather in Budva, Montenegro at the Digital Influencers in Action Forum, organized by the Digital Communication Network to be held 18-19 June.
15 May 2019 - Pavle Radulović, Minister of Sustainable Development and Tourism of Montenegro spoke at the opening of the tenth, Jubilee Festival of Real Estate and Investment - FREI in Budva, and highlighted that the preconditions for investments and development are constantly being created in Montenegro, resulting in record revenues in tourism. The number of investors from foreign countries is continuously growing, as some of the most prestigious companies in the world, especially in the catering industry, open their businesses in Montenegro.
The Minister presented the most important projects in Montenegro, stressing that investments are the key development resource, while tourism is the main driving force. Radulović explained that small countries, such as Montenegro, have to be extremely careful when allocating their resources and that skilled planning and thoughtful usage with the appropriate legal framework are a prerequisite for improvement.
The Minister reminded that the Government of Montenegro adopted new legal solutions that facilitate procedures and improve the investment environment. The adoption of new planning documents and significant investments in infrastructure created a good foundation for development.
"This is certainly a result of which we are very proud of. For the first time in its history, Montenegro achieved direct and indirect tourism revenues in the amount of more than 1 billion EUR! Also, our country was visited by 2,2 million tourists, and these tourists had almost 13 million overnight stays. We are constantly increasing our presence in the most important emitting markets in Europe. Montenegrin economy recorded growth at the rate of 5% last year, and the results achieved in tourism significantly contributed to this growth and stable credit rating," he said.
According to the Minister, the project of economic citizenship will also contribute to the overall business environment conditions in Montenegro. "By introducing economic citizenship, we want to buy excellence rather than “sell passports”. This project is intended for individuals and their families who have acquired money legally, and we want to impart knowledge and money into our country, "said Radulović.
The Minister reminded that the value of contracted investments on capital projects is estimated at around 3 billion EUR. He pointed out the biggest projects in Montenegro, which include Porto Montenegro in Tivat, Aman Sveti Stefan, Hotel Maestral and Queen's Beach in Miločer, and Hotel Durmitor, whose value is estimated at around 20 million EUR. Radulović also emphasize the complex Luštica Bay, Portonovi, Beyond Horizon, lease of Hotel and Tourism Enterprise Complex "Ulcinj Riviera" with Consortium "Karisma" etc.
Speaking about the projects in the north of Montenegro, Radulović emphasized the valorisation of some of the already existing ski centres and the construction of new ones, where the Government will invest around 100 million EUR through the Capital Budget between 2015 and 2023.
The Ministry of Sustainable Development and Tourism has already announced a project for economic citizenship, said the state secretary in that government, Damir Davidovic, adding that he was particularly pleased with the project in the north in Kolasin.
He reminded at the festival of investment FREI 2019 in Budva that a public call for projects for obtaining economic citizenship in the field of tourism was announced in February and is open until the end of 2021.
"The investor is expected to meet strict criteria, primarily the size of the investment, the number of jobs and the financial capacity to carry out the project. The business plan for such projects requires serious and extensive preparation, so we do not rush with the applications," Davidovic said.
The Ministry said that he explained that the realization of such projects does not mean just new investments, but new knowledge, ideas, investor partners, and perhaps offers in tourism.
Tourism projects can be hotels with at least five stars, 60 accommodation units and at least 80 new employees in the coastal region and Podgorica. In the north, it is necessary that the hotel has at least four stars, 35 accommodation units, and 25 new employees. The minimum project value on the coast and in Podgorica is 15 million euros, and in the north five million.
Secretary of the Secretariat for Development Projects, Dejan Medojevic, said he expected the program to accelerate economic and regional development and attract new foreign investments.
Also, through new tourist, agricultural, and processing capacities, new jobs will be opened, which will also affect the increase in living standards in the country. By realizing these projects, Montenegro will also meet demanding economic criteria from the European Agenda.
Medojevic added that there are two criteria for applicants. If investing in projects on the coast or in Podgorica, the minimum investment is 450 thousand euros, and in the north 250 thousand. In addition to investment in the project, applicants are required to pay 100,000 euros in donations to the state account, which will be used for the development of less developed areas.
He said that the first applicants are soon expected when agents for mediation and verification of international capabilities are granted licenses.
Director of the Directorate of Civil Status and Identity Documents at the Ministry of the Interior, Milanka Bakovic, stated that awarding citizenship is always reflected in the interests of Montenegro, namely scientific, cultural and sports. However, it is not enough when it comes to business and economic interest, so the criteria for economic citizenship was established.
She explained that the discretionary right of the Minister for Interior for approval to institute administrative proceedings for acquisition of Montenegrin citizenship by admission, that all conditions have to be met and the necessary opinions of the competent authorities have to be obtained when the Secretariat for Development Projects is informed as well.
"In order to ascertain whether the applicant fulfills the prescribed conditions, the persons concerned are being checked through the National Security Agency, Interpol and Europol. If it is established that the applicant or the agent has provided inaccurate information on the basis of that knowledge the procedure for the loss of economic citizenship will be initiated and the applicant has no right to be repaid with the funds already invested," Bakovic said.
She said that only adults gain citizenship and did not have to renounce their primary citizenship, but also those who are not welcome in EU countries will not be welcomed even in Montenegro.
Davidovic, speaking on the results in tourism, said that according to current results and projections, he believes that Montenegro will exceed last year's results and will be visited by some 2.5 million tourists who will realize over 14 million overnight stays.
He recalled that in the first quarter there was a growth in collective accommodation of 40 percent or about 35 thousand more guests than in the same period last year.
Text by MINA Business, on May 14th, 2019, read more at Vijesti
14 May 2019 - Montenegro, through the Agro Budget and European Union funds, has the financial resources that will enable the country to further agriculture development, it was noted during the public debate on Chapter 11 - Agriculture and Rural Development.
The Secretariat-General of the Government, within the EU-funded project EU4ME, implemented by UNDP, organised this public debate, bearing in mind the importance of EU support for producers and the stability of the market provided by the membership, in which it discussed the conditions that Montenegro has so far fulfilled in negotiations, but also the upcoming obligations in this demanding process.
Chief Negotiator Aleksandar Drljević pointed out that the common agricultural policy, as one of the most complex policies of the Union, aims to maintain the EU at the top of the most serious players in the field of production and processing of agricultural products, as well as a stable market characterized by high-quality and healthy products and facilitated placement and promotion for producers.
He reminded that Montenegro has 39 million EUR in EU funds through IPARD, and 52.4 million EUR through 2019 Agro Budget, urging all citizens of Montenegro to use the benefits of Montenegro and the available financial support to improve their business or to launch a business in agriculture.
Within the panel on "European standards for better quality of products", the Negotiator for chapters 11, 12 and 13 Radana Damjanović assessed that Montenegro has so far achieved good results when it comes to harmonizing Montenegrin legislation with Europe, stressing that the most demanding job is the establishment of administrative structures that will implement a common agricultural policy on the day of accession, which implies the establishment of the Payment Agency and the Integrated Administration and Control System.
Ružica Gelo, Negotiator for chapters 11, 12 and 13 from Croatia, presented Croatia's experience and challenges in the negotiations in this area. "Administrations of all small countries find it very difficult to bear the burden of the negotiation process and, unfortunately, it is only a small part of the story. The burden for administration starts only after joining," she said. Gelo said that the pre-accession years should be used to prepare the sector.
Nadia Kyuchukova of the EU Delegation to Montenegro expressed her satisfaction with the situation in this area.
"I see that the administration is aware of what it is supposed to do in this process, but also that the producers are aware and ready to work. These are young people, which is not always the case in other countries, and it is good that you have young people ready for investment, as this will have a positive impact on the process. However, the process of implementing legislation in this area needs to be strengthened," she added.
Agricultural producer Dejan Jovović, who has used pre-accession funds for the development of his business, presented his farm, which continues to develop thanks to the financial support from Agro Budget, MIDAS and IPARD.
Today, his entire family is involved in the development of the business, and they produce more than a million kilos of vegetables annually.
Vice President of the Chamber of Commerce of Montenegro Ljiljana Filipović said that the chamber is an active partner that contributes to the readiness of the economy to take advantage of the EU membership.
13 May 2019 - The Government of Montenegro wants to, in a short time, and in a sustainable manner, make the best use of the development potential, primarily in the north of the country, in order to provide better living standards for citizens, Prime Minister Duško Marković noted at the meeting with the delegation of the Austrian company Doppelmayr, headed by the Doppelmayr/Garaventa Group CEO Michael Doppelmayr.
"We have invested significant resources in the development of the overall infrastructure - transport, energy, digital... to create favourable conditions for business and job creation. The economy has grown at an average rate of 4.9 %, and in just two years we have increased the number of employees by over 17,000," Prime Minister Marković stated.
He stressed the country's strong commitment to the construction of ski resorts and highlighted the project of a ski centre that is being built on the territory of the five municipalities - Kolašin, Mojkovac, Bijelo Polje, Rožaje and Berane. Recalling that the procedure for building infrastructure in the area is in progress, the Prime Minister said he is hopeful that the works will be completed by 2020.
Both sides expressed satisfaction with the collaboration with Doppelmayr and the interest for long-term cooperation, given the reputation of the company and the fact that such investors provide both money and infrastructure, as well as knowledge and European standards of business.
Mr Doppelmayr said that the future of skiing is unquestionable, as well as the trend in the world to build ski resorts that can be used in the summer and in that way absolutely use the capacity of the resort. Doppelmayr/Garaventa Group has built and installed 15,000 cable cars on six continents. They have representative offices or agencies in 40 countries and close to 3,000 employees.
Most data subjects believe that women are discriminated against in the Montenegrin labor market and that men are more likely to obtain a job. This has been shown by field research on the position of women in the labor market in Montenegro, conducted by the Center for Monitoring and Research (CEMI) from December 2018 to February this year.
The research was carried out as part of the Project for Research Journalism in Montenegro (CIN-CG) "Research and Media Campaign: Women's Rights / Labor Rights".
CEMI has conducted 20 detailed interviews with women, out of which 13 are employed and seven are not.
The President of CIN - CG Milka Tadic Mijovic pointed out that research has shown that women, as well as in other spheres of life, are discriminated against in the labor market.
Executive Director of CEMI Nikoleta Djukanovic pointed out that several stakeholders, despite the efforts of the research team, did not answer the calls or refused to participate in the research. These are, as she explained, the Ministry of Economy, KIPS, NLB Bank, Codra Hospital, JPU "Ljubica Popovic", Sportina DOO.
"The employer asked a significant number of data subjects about planning and expanding their family," Djukanovic said.
As she said, respondents believe that in certain sectors or positions, such as trade, sales, tourism, and catering, the way a woman looks is very important to employers to offer them the job.
The Deputy of Human Rights and Freedoms, Sinisa Bjekovic, pointed out that the survey results match their data. He pointed out that women in the labor market in Montenegro are discriminated by the fact that they are given contracts on a definite period of time, and also in denying them benefits based on maternity leave.
"It is indicative that women are less employed," Bjekovic said. He stressed that women have much less trust in state institutions and are much less active in the job market because of many factors which makes them repellent to do so.
"The problem is how women are being perceived today in Montenegro, and men's consciousness in this matter needs to be changed as well," Bjekovic said.
Text by Borko Zdero, on May 13th, 2019, read more at Vijesti
12 May 2019 - Thirteen banks that operate in Montenegro (apart from Atlas and IBM that went bankrupt) were in the plus 14,3 million EUR at the end of the first quarter. Every bank has made profit except for Nova and Zirat. Universal Capital Bank had the biggest increase in profit. In comparison to the same period last year, its profit has increased by 13 times, writes “Pobjeda”.
Banks have earned a total of 33,4 million EUR based on interests and 8,3 million EUR based on fees and commissions. Erste Bank has made the highest profit in three months – 2,4 million EUR. It has earned 5,5 million EUR based on interests and 579.000 EUR based on fees and commissions.
The Montenegrin Commercial Bank comes next. It made a profit of 2,39 million EUR, 6,2 million EUR from interests and 1,6 million EUR from fees and commissions. The profit of Hipotekarna bank amounted 2,08 million EUR. They have earned 3,5 million EUR on the basis of interests and 2,06 million EUR on the basis of fees and commissions.
NLB Bank comes fourth with a profit of 1,9 million EUR, weaker than last year. This bank has earned 4,9 million EUR on the basis of interests and 794.000 EUR on the basis of fees and commissions. The profit of Societe Generale Bank amount 1,8 million EUR, 5,5 million EUR from interests and 436.000 EUR from fees and commissions.
Universal Capital Bank has made a profit 13 times higher than in the same period last year. The bank has earned 736.000 EUR based on interests and 1,15 million EUR based on fees and commissions.
Prva Bank has earned 403.000 EUR, while this bank gained 2,3 million EUR from interests and 425.000 EUR from fees and commissions.
Profit of Addiko Bank amounts to 1,17 million EUR. (2,4 million EUR based on interests and 561.000 EUR based on fees and commissions).
Profit of Lovćen Bank amounts 455.000 EUR. Commercial Bank Podgorica earned 211.000 EUR. Zapad Bank has made a profit of 117.000 EUR.
Loss of Nova Bank amounts 453.000 EUR. They have earned 169.000 EUR based on interests and they have lost 31.000 EUR based on fees and commissions. Zirat Bank has had negative profit too – 8.000 EUR.
Source: Cafe del Montenegro
11 May 2019 - The motorway, being the highest ranked road, represents the most secure road category, Veselin Salamadija, a specialist in traffic engineering and president of the Group for the transport of passengers and goods by road in the Chamber of Commerce of Montenegro, said in an interview for CdM.
Salamadija says the construction of the motorway would significantly reduce travel time, that is, people will travel 30-40 minutes from Podgorica to Kolašin instead of an hour and a half as they do now. Costs will be decreased as well. However, there are certain problems as well – more and more drivers seek to find a job in the EU member states. However, the relevant Ministry of Transport and Maritime Affairs somehow has managed to mitigate this problem.
He also believes that high-quality and secure roads can bolster road safety even though this issue has been quite complex in terms of factors that affect the level of safety.
“Having in mind that the priority Smokovac–Mateševo section represents an alternative to the route from Podgorica to Kolašin (the canyon Platije), the need for its construction is even greater,” said Salamadija.
When it comes to the benefits of the Bar–Boljare motorway in terms of passenger and goods traffic, as someone who has been involved in the area of passenger and goods transport for many years, Salamadija expresses his great satisfaction with the fact Montenegro has opted for the project of constructing the Bar-Boljare motorway.
By constructing the Smokovac–Mateševo section in Montenegro and the Surčin–Čačak section in Serbia, transport of passengers and goods will be realized in a more quality, reliable and secure way,” concluded Salamadija.
Source: Cafe del Montenegro
11 May 2019 - The Government of Montenegro is determined to support every spark of development in Montenegro, Prime Minister Duško Marković said at the opening of the 9th International Stock Market of Entrepreneurial Ideas, organized at the University of Donja Gorica.
The Prime Minister said that our society is still characterised by the dominant desire of the working population to gain employment in the public sector, which is often followed by the absence of creativity and innovation, which results in a state administration that is often part of the problem rather than the service to entrepreneurs as holders of economic development.
"That is why it is very important that we continue our efforts, which result in events like this, to strengthen the entrepreneurial culture in Montenegro. To build a system based on the values of creation, that is, the values of the entrepreneurial society. This is the best way for accelerated economic development! And the best way to improve the quality of life of all our citizens," PM Marković stressed.
In Montenegro, the Prime Minister noted, today we do not have a more important job but to improve the quality of life of all our citizens. We need new ideas, creativity, and much more work and a more responsible relationship towards the resources we have.
Prime Minister Marković said that the most important task of all our educational institutions is to help the future generations to liberate their creative energy: "The field does not matter - there is room for improvement in each of them."
"Organising the International Stock Market of Entrepreneurial Ideas is of particular importance. As an initiative of the University of Donja Gorica, it is an integral part of the vision and effort to develop an entrepreneurial attitude towards life and work among young people. It is a reflection of focused development and investment in young people," the Prime Minister emphasised.
He added that this is an opportunity for young entrepreneurs to be creators of new jobs, new products and services. The opening of the "Entrepreneurial Nest" at the University is a step forward, PM Marković noted.
Addressing the participants at the gathering, the Prime Minister said that they were able to give an actual contribution to our joint efforts to make the Montenegrin economy more competitive and help its economic growth and development.
"It is very encouraging and commendable that today we had a presentation of the extraordinary ideas of young people in the field of the digital economy, food technology, design, and social entrepreneurship," PM Marković said.
Commenting on the establishment of the "Entrepreneurial Nest", Prime Minister Marković said that he encourages the focus on the business in its wider sense. Apart from technological innovations and informatics, there will also be opportunities for research in biology, anthropology, health, education, social sphere, logistics and other fields.
Through the reforms it is implementing, the Government is working to improve the overall education system, greater flexibility of the labour market and the competitiveness of the tax system. We also work on the development of social policy in a way that motivates citizens to work and create rather than to expect from the State to solve all problems and provide lasting social assistance or livelihood through a secure job in the state administration.
"The Government recognised the importance of start-up companies as a form of accelerated growth in entrepreneurship, based on innovation and creativity through teamwork. We are focused on supporting young entrepreneurs, and we are also seeing the possibility of introducing an optimal tax relief model for their work," the Prime Minister highlighted.
Furthermore, he spoke about numerous possibilities and means for implementation of entrepreneurial ideas and their sustainability, increasing competitiveness and innovation in small and medium enterprises.
"Guidelines of the 2019-2024 Smart Specialisation Strategy identify the priority areas of development of our country: from energy transition, through agriculture and health tourism, with information and communication technology, as a horizontal platform. We will pay special attention to these areas in the coming period," the Prime Minister said.
He pointed to the parameters of a successful economic policy, but added that the reduction of current public spending and the strengthening of the role of the private sector are necessary to improve the standard of living of citizens further.
10 May 2019 - Bilateral relations between Montenegro and Finland are excellent, and strong and serious steps towards strengthening economic relations are especially encouraging, the meeting between Prime Minister of Montenegro Duško Marković and outgoing Ambassador of Finland Pertti Ikonen stressed.
"Montenegro wants to continue its strong political dialogue with Finland. For us, the EU has no alternative and we will be dedicated to working towards meeting the European agenda. Thank you for the support you have provided to our country in this field and I believe that we will make further progress during the Finnish presidency over the Council of the EU," said Prime Minister Marković.
Pointing out that he is safe in the knowledge that the trend of strong economic growth will continue in the coming years, Prime Minister Marković positively assessed the participation of the Finnish company Fortum in the construction of a solar power plant, hopeful that the Finnish companies will be strategic partners in the energy sector.
Ambassador Ikonen praised the progress in the implementation of reforms in Montenegro, reiterating Finland's support to the European perspective of Montenegro and the Western Balkans. In terms of bilateral cooperation, he agreed that it is important to strengthen the economic cooperation between the two countries further and welcomed the presence of the Finnish companies.
During mid-December 2018 the Prime Minister of Montenegro met with the Prime Minister of Finland Juha Sipilähe Prime Minister of Finland Juha Sipilä and they agreed at the working meeting, which took place in Helsinki, that Montenegro has made strong progress in the European integration process and that the process will be continued with the full support of Finland, which will take over the presidency of the Council of the European Union in the second half of 2019.
09 May 2019 - The Government of Montenegro will work to improve the business environment and enable foreign investors to have all the conditions for business, Prime Minister Duško Marković noted following the opening of the MAN Truck & Bus Centre in Danilovgrad.
The value of the investment is over 2.3 million EUR, and the building was built by MAN Truck & Bus AG Munich Germany, which has 260 years of tradition in industrial production and more than 100 years of experience in the production of commercial vehicles.
"First of all, I would like to express my satisfaction with the implementation of the project of the Germany-based MAN, which represents a significant impetus to the development of Danilovgrad and entire Montenegro. Having MAN in Montenegro and Danilovgrad is indeed not only a privilege, but a good indicator of the direction our economy is taking," Prime Minister Marković stressed.
He added that this sales and service centre would give an incentive to the sustainability of this investment, as well as the economy of the entire municipality of Danilovgrad.
The Prime Minister also referred to the development of the municipality and said that in the next few years over 30 million EUR would be invested in capital infrastructure in Danilovgrad. The reconstruction of the Danilovgrad - Podgorica road is planned to get a four-lane boulevard, as well as the completion of the old road between the capital city and this municipality, which will be a strong incentive for a new quality of life in Danilovgrad and investments.
"Our economy is growing. For the past two years, we have had average growth rates of 4.8%, which is among the top five growth rates in Europe. We do not want it to be a momentum, but continuity," PM Marković underscored.
The Prime Minister said that the indicators in the first quarter of this year show that Montenegro has significantly higher growth in all sectors compared to the fourth quarter of 2018, which means that this year will result in a high growth rate.
"This means new jobs, a better and more sustainable budget and a better life for citizens. The Government will work to maintain this tempo, improve the business environment and enable foreign investors to have all the conditions for business and maintenance of its operation," the Prime Minister of Montenegro concluded.