April 13, 2019 - Lufthansa landed a plane in Montenegro, at Tivat Airport, for the first time. On the occasion of the inaugural flight passengers and special guests were welcomed by representatives of the Airport of Montenegro, Tivat Municipality, management of the Lufthansa group and the ambassador of Germany in Montenegro H.E. Heinrich Robert Weber, as well as Vice President of Tivat Municipality, Dejan Maslovar.
April 13, 2019 - Continuing our look at the real estate opportunities in Montenegro, in association with RE/MAX, a trip to Herceg Novi.
It is a big year for tourism in Herceg Novi, as Portonovi will finally open its doors this summer. The luxury resort at Kumbor will eventually cost 900 million euro once complete, and the level of luxury will put Herceg Novi firmly on the map.
So it is not a bad neighbourhood to be in...
I had a drink with a regional property expert recently, whose opinion is that Portonovi will do wonders for land values in the region.
And if you don't fancy building, this week's property of the week might be the perfect solution.
Situated in the village of Djenovici, right next to Kumbor, the 2010 apartment of 109m2 is described as follows on the official RE/MAX listing:
This home screams ‘designer’ and will reflect the personality and taste of those accustomed to the best in quality design, finishes, and lifestyle.
Highly sophisticated in the choice of furniture, light colors, and design, this beautiful home is enveloped in light and comfort. Crisp white walls, light brown floors, and high ceilings create a style as timeless as the sparkling sea view. The calming sea vista and mountains, captured through the extensive use of glass, will help you forget city stress. It won’t be easy to click out of high-end holiday mode in this stylishly contemporary residence for the modern pleasure-seeker.
Asking price - 320,000 euro. For more photos, info, and to book a viewing, check out the original listing.
12 April 2019 - The Commission for the fight against the grey economy unanimously concluded at its first session held in an enlarged composition, in line with last week's decision of the Government, that competent authorities need to immediately increase the intensity and quality of the fight against all forms of the grey economy now that they are formally strengthened by the common position of representatives of the executive authority, inspection bodies, business community and trade unions.
The session, chaired by Chairman of the Commission, Deputy Prime Minister for Economic Policy and Financial System Milutin Simović, emphasised that the Commission, in its new composition covering the entire spectrum of relevant stakeholders, is sending a strong signal of common position, interest and synergy in overcoming challenges of grey economy in the interest of employees, business community and additional income for health and education funds, therefore, in the interest of all citizens of Montenegro.
"The Commission in this composition should be an alarm clock for some institutions that do not work properly, but also for individuals. Like the Commission, we will insist on rewarding those who do business in a high-quality and efficient manner and sanctioning those who fail to answer the tasks," he underscored.
At the session, reports from the competent authorities on the results of combating grey economy in the first quarter of 2019 were presented, as well as reports on the overall trends in the labour market and grey economy in tourism. In that regard, the Commission noted that the reports show that the grey labour market has been active throughout the year and that the focus of the competent authorities could not only be placed on the tourist season. In particular, the structure of employees in the economy is such that 53.5% of business entities have one employee, while in the field of tourism and catering one employee has 2.487 subjects or 42.50% of those engaged in this activity. Formally, one employee has 147 hotels; the session stressed. In that context, it was concluded that micro, small and medium enterprises are one of the key grey economy generators in Montenegro and that these economic entities will be subjected to rigorous controls by competent authorities in the immediate future. "The inspection bodies need to knock at their door urgently," the Chairman of the Commission underlined, adding that they have a choice - to report the employees before the arrival of inspections.
Representatives of the business community and trade unions expressed satisfaction with the fact that they are involved in the fight against gray economy, stressing that they fully share the interest of its suppression. The session emphasised the need to strengthen the capacities of the competent inspection services and deal with the lack of selectivity in their approach, thus enabling the consistent observance of the law, which should testifies to the principled policy of the State. The session emphasised the need to modernise certain solutions, announcing the issuing of a new excise stamp that will contain the highest level of protection.
The Commission, constituted last year by representatives of the Ministry of Finance, Police, Customs Administration, Public Revenue Administration and Inspectorate Administration, was amended last week upon the proposal of the Office of the Deputy Prime Minister for Economic Policy and Financial System, by representatives of the Ministry of Sustainable Development and Tourism, Ministry of Social Welfare - Directorate for Labour Market and Employment, as well as representatives of the Chamber of Commerce of Montenegro, Employers' Union, American Chamber of Commerce, Foreign Investors Council, Union of Trade Unions of Montenegro and Union of Free Trade Unions.
12 April 2019 - We consider the cooperation of the countries of Central and Eastern Europe with China within the 16+1 Mechanism as successful and significant and it has potentials that should be used, Prime Minister Duško Marković said in Dubrovnik.
At the Eighth Summit of Heads of Governments of Central and Eastern European Countries and the People's Republic of China, PM Marković pointed to significant economic parameters of development and stressed that Montenegro is committed to fulfilling the European agenda, adding that it is conducting advanced negotiations with the EU.
"As a country that joins the EU, we are following the strategic dialogue and cooperation between the EU and China with diligence and appreciation," the Prime Minister said.
He recalled that a significant part of Montenegro's development policy is based on the improvement of infrastructure and connectivity, direct foreign investments, development of energy based on renewable sources, tourism, agriculture, and the development of small and medium-sized enterprises.
"We consider cooperation in these fields within 16+1 as valuable and significant," Prime Minister Marković stressed.
Talking about infrastructure and connectivity, the Prime Minister emphasized the Port of Bar. The potential of this strategic resource of Montenegro should be used and available for trade exchange between Europe and Asia, i.e., the EU and China.
"This port represents a huge economic and investment opportunity and can be a very usable maritime and traffic hub in achieving goals in what we recognised in the "Dubrovnik Guidelines "- the importance of the "Belt and Road" initiative and the EU Strategy for Connecting Europe and Asia and increasing synergy among them," the Prime Minister of Montenegro emphasised.
Furthermore, he referred to the most important infrastructure project in Montenegro, the completion of the first section of the motorway, which we are implementing with Chinese partners. The Prime Minister said that we are in the final stage of construction of this segment and that the Government of Montenegro creates the preconditions for a quick continuation of the development of the motorway, towards the border with Serbia.
Alongside the current works on the priority section, PM Marković added, we intensified the activities to begin the implementation of the following two sections, for which, through the Investment Framework for the Western Balkans, grants have been provided for EUR 5.49 million. This money is intended for development of preliminary projects and report on accompanying environmental impacts, and the implementation of these activities is in progress.
"Let this be an invitation to companies from your countries to express their interest in the implementation of this project in partnership with the Government of Montenegro through the model of private-public partnership, as we have the interest of Chinese companies," the Prime Minister said.
He thanked the participating countries for supporting the initiative of the Ministry of Culture of Montenegro to discuss the possibility of opening 16+1 creative industries hub in Montenegro.
"The main goal of this initiative is to create conditions for the work and accommodation of artists from 16+1 countries, which will enable them to create new creative products within a kind of residential platform in one of the Montenegrin cities, in an inspiring atmosphere of exchanging ideas and cooperation," Prime Minister Marković said.
The Heads of the Governments of CEEC and China welcomed the cooperation achieved so far through the 16+1 Mechanism and expressed strong interest in continuing and strengthening mutual relations. Particular emphasis was placed on the importance of collaboration in the fields of energy, infrastructure, transport, tourism, as well as finance and digitization.
President of the State Council of the People's Republic of China Li Keqiang, with whom Prime Minister Marković will meet later today, said that the importance of cooperation within 16+1, and especially collaboration between the EU and China, was confirmed. He expressed the belief that cooperation within 16+1 will contribute to a greater balance of development in Europe and that a target of 100 billion dollars in trade exchange will be achieved by next year.
Greece was greeted at the gathering as a new full participant in the Mechanism of Cooperation between China and Central and Eastern Europe.
12 April 2019 - Crvena zvezda mts have made the first step towards achieving their desired goal – returning the ABA League trophy to their trophy cupboard. They have beaten Budućnost VOLI in Game 1 of the ABA League Finals and have taken a 1:0 lead in the series. In a game, that seemed to be able to go anybody’s way in the first half, the hosts dominated the court in the second part of the clash and deservedly took the lead in the Finals.
The third quarter was crucial for Crvena zvezda mts on their way towards the victory in the end. They won the third period of the game 20:10 and converted their 3-point lead at the halftime (45:42) to a 13-point lead after 30 minutes (65:52). This was enough for their victory, as Budućnost VOLI did not manage to bounce back in the final quarter.
Billy Baron demonstrated a fantastic performance, with which he led Crvena zvezda mts to the huge win over Budućnost VOLI. He ended the clash with game-high 19 points (4/4 for 3 points) while adding five assists, four rebounds, two steals and a valuation of 27 to his stats. He is our man of the match!
At the losing side American point guard, Norris Cole responded with 18 points and four assists and the other American import forward Coty Clarke scored 8 points and six rebounds. Both coaches used bench players which allowed the starters a little rest for the next games.
12 April 2019 - Around 2.267 employees worked in seven of the most important hotels and tour companies in Montenegro last year, and they made a profit of 151 million EUR.
Maestral hotel and casino in Budva generated the highest profit of 36,6 million EUR. Next comes Luštica Development, with 33,3 million EUR. Budvanska Rivijera made a profit of 21,5 million EUR, HG Montenegro Stars – 20,7 million EUR, HG Belvi – 14 million EUR, Adriatic Properties – 12,9 million EUR and Beppler and Jacobson Montenegro – 1,8 million EUR.
Five out of seven companies finished the last year with a positive performance. Maestral made the highest profit – 10,7 million EUR. Belvi Hotel Group from Budva ended last year with a gain of 4,64 million EUR. Budvanska Rivijera made a profit of 2,6 million EUR, while Beppler and Jacobson Montenegro made a net profit of 1,52 million EUR. The profit of Montenegro Stars amounted 342.738 EUR whereas the Adriatic Properties was at a loss – 5,72 million EUR. Luštica Development also operated at a loss of 475.545 EUR.
Montenegro Stars company had the highest number of employees last year – 650. Budvanska Rivijera counted 585 and Maestral 357 employees. Adriatic Properties had 280 employees and Belvi Group had 214. At the end of last year, Beppler and Jacobson had 93 employees, and Luštica Development – 88. Budvanska Rivijera has the highest capital – 190 million EUR. The capital of Montenegro Stars amounts 80,37 million EUR, Beppler and Jacobson – 36,2 million EUR. The capital of Belvi amounts to 28,2 million EUR and Maestral had the capital of 20,56 million EUR. Adriatic Properties had negative capital amounting to 49,5 million EUR.
Owner of the Maestral hotels and casinos company from Budva is Fasamo, a company from Podgorica. President of the Board of Directors is Georgios Lychnos, while Christos Tsemperas is the CEO.
This company manages Maestral hotel, which was reopened in July of 2017 after being reconstructed. Luštica Development is the branch of Swiss Orascom Development Holding. Samih Saviris is the President of the Board of Directors and Daren Gibson is the CEO. This company is carrying out the Luštica Bay project. Last year, the first phase of the marina with 176 berths was opened in Luštica Bay, along with the first ultra-luxurious Chedi hotel and marina settlement with around 220 residential units.
Budvanska Rivijera is still mostly state-owned. Saša Radović is the President of the Board of Directors of this company. Katarina Kažanegra is the CEO. Founders, that is, co-owners of Montenegro Stars hotel group are Žarko Radulović and Viktor Ivanenko. Milan Vuković is the CEO of this company. Splendid is within this company too. Owners of Belvi Hotel Group are Branko and Predrag Ćupić and Selim Kolar is the CEO. President of the Board of Directors of Adriatic Properties is Petros Statis and Goran Bencun is the CEO.
Founder of this company is Aidway Investments from British Virgin Islands. Adriatic Properties is the long-term tenant of Sveti Stefan hotel, Miločer villa, and Kraljičina plaža hotel. Founder of Beppler and Jacobosn company is Lawson Trading INC. This company manages Avala hotel in Budva and Bjanka hotel in Kolašin. Nikola Kasalo is the CEO and Alexander Safian is the president of the Board.
Source: Cafe del Montenegro
Podgorica will have an Argentina Square, Ankara boulevard, Kolovrat, and European street, it was decided by the members of the Assembly of the Capital City.
PG Bureau said that today's Assembly members adopted the Decision on determining the names of the squares and streets in Podgorica, on the proposal of the Council for the nomination of the name of settlements, streets, and squares.
This Decision defines that in the territory of the local community Nova Varos, the square located on the south side of the City Stadium and borders with Boulevard Ivan Crnojevic from the south and the street 19th December from the eastern side, is named Argentina Square.
"It's about a public space of 4.7 thousand square meters. Montenegrin emigrants began to settle in Argentina in the early 19th, and the most intense in the early 20th century," the statement said.
It is added that more than 40,000 Montenegrin emigrants and their descendants live in Argentina, that is, the second Montenegrin community in number in the world, and are mostly settled in the provinces of Chaco and General Madariaga.
The decision stipulates that in the area of 1. May, that the extension of Ljubljana street from the crossroads with Ljubomir Rasovic street to Cetinjska street, a 300 meters long area will be called Ankara boulevard, by the capital of Turkey and the administrative center of Ankara province in the region of Central Anadolia, where the elite part is placed on the street called Podgorica.
In the area of the local community "Dajbabe", a street that extends from Vojislavljevic boulevard near the bridge on Moraca, in the south and south-east, on the left bank of the Moraca river to the crossroads with the European street, in the length of about 450 meters, will be Kolovrat, according to the former name for the left and the right bank of Moraca river between Dajbabe and Donja Gorica.
The street extending from Boulevard Vojislavljevic to the south to Kolovrat Street, about 400 meters long, will be named European street.
A delegate l in the Municipal Assembly, Tijana Vidakovic, said that tradition and modern trends determined this proposal.
"It is because of all the differences that exist and create a coherent whole that I believe that this proposal is indirectly a form of preservation of national identity. This creates an inseparable blend of tradition and modern trends, but also of all the achievements that we are counting thanks to our policy and the steadfast European path," Vidakovic pointed out.
Text by MINA News, on April 11th, 2019, read more at Vijesti
The presentation of the tourist offer of Bar was held in the capital of Ukraine at the hotel "Opera" in Kiev, where a business workshop of tourist businesspeople of Montenegro and Ukraine was also held. The Tourist Association of Bar was one of the co-organizers of this event in cooperation with the Embassy of Montenegro in Ukraine, NTOCG and the Tourist Organization of Budva.
"The guests were greeted by the Ambassador of Montenegro to Ukraine Ljubomir Misurovic, and the director of NTOCG Zeljka Radak Kukavicic, and the representatives of the Ministry of Sustainable Development and Tourism and TO Bar and Budva presented the natural and cultural values of our climate, the offer for the upcoming summer tourist season and the airlines between the two countries. Then a business workshop was held where the Montenegrin representatives held meetings with Ukrainian tour operators and agencies in order to establish cooperation in the future," TO Bar said.
According to the same information, the presentation included Ukrainian tour operators Alf, TUI Ukraine, Kompas Travel, Join UP, Orbita, Siesta, Coral, Pilon, Wind Rose, Sky Up, Allianz, Pegas, Annex, Pan Ukraine, TEZ Tours and more.
Text by Radomir Petric, on April 11th, 2019, read more at Vijesti
The Central Bank announced that it made a profit of about 3.57 million euros last year, which is 37 percent more than in the previous year.
"CBCG Council made a decision on the distribution of profits for 2018 and the decision to increase the bank's core capital," it was announced by the Supreme Monetary Institute, but details of these two decisions are not specified. On Friday, the Council adopted the CBCG financial report for the past year with a report from an independent auditor that provided a positive opinion on the business.
"The independent auditor assessed that the financial statements present a true and objective financial position of the CBCG, as well as the results of its operations and cash flows in accordance with international standards. The external auditor had no recommendations in the part of the CBCG's financial operations that would address the shortcomings in the internal control system," the CBCG said.
According to the financial statements, the total realized revenues of the CBCG were EUR 16.7 million and 17% higher than the plan. The CBCG said that in the previous two years it did not increase the tariffs it charges for its services, which confirms that the financial performance for 2018 was successful. They claim that operating costs confirm rational business and that total staff costs kept the same level of 2017.
Text by Marija Mirjacic, on April 9th, 2019, read more at Vijesti
April 12, 2019 - Activists of the Odupri Se 97,000 Movement held a performance yesterday, 11 April, in front of the State Prosecutor's Office building in Podgorica to protest after Wednesday's blockade of CEDIS and EPCG buildings when strangers faced some of the protesters.
April 12, 2019 - In 1989 he was one of the youngest leaders in Europe. Thirty years later, Milo Djukanovic, Montenegro's president, still young at just 57 years of age, was in power as president, prime minister or head of the ruling party, longer than anyone in Europe. The British magazine "The Economist," writes "Montenegrin monarch: Why Milo Djukanovic is Europe's Most Durable Ruler" on April 11.
Montenegrins born in the 40s remember the time before Djukanovic. Other European leaders want to know what the secret of his success is, but he says there is no simple explanation.
On his wall is the portrait of King Nicholas, who was abolished in 1918 after 58 years. Djukanovic does not want to be compared to him, though there may be no choice.
Over the last nine Sundays, thousands of people went to the streets of Podgorica asking for Djukanovic's resignation. The president of Montenegro is, however, not anxious.
In 2016, there was a conspiracy target, which was financed by Russia, in the desire to kill him, and now the Russians are making problems again.
"This is ordinary nonsense," Dejan Mijovic, an opposition politician, said through laughter.
"Democracy in Montenegro is fake, and Djukanovic holds all the levers of power, and now he has to go," Mijovic said.
The Montenegrin united opposition received additional energy thanks to the accusations of the former tycoon who now resides in London.
Since January, Duško Knežević, a former friend of Djukanovic, published information that he hopes to overthrow President of Montenegro.
He described the pattern of corruption throughout the state, and he even released a video that shows that he contributes illegally to Djukanovic's electoral campaign (the Envelope Affair).
Djukanovic said that the case was solved, but that everything else Knezevic is telling is lies of a fugitive from justice (Knežević is suspected of "money laundering").
Knezevic admitted that he violated the law on campaign contributions, but added that it was the only way for someone to deal with a business in a country where Djukanovic recruited and kept everything under control.
However, the affair of Duško Knežević and opposition demonstrations take place, Djukanovic's political survival is remarkable.
In 1989, Djukanovic was a protégé of Slobodan Milosevic, then a Serb leader. But as Milosevic faced a defeat in the war over Kosovo, Djukanovic turned to advocate the reconstruction of Montenegro's independence, lost in 1918 when Yugoslavia was created.
It started in 2006 when it managed to create a rarity in the Balkans - a multiethnic state.
Djukanovic said that he was trying to withdraw from power, but that a new assignment would always be dropped.
Montenegro joined NATO alliances in 2017. In Montenegro, there has never been a change of power in the elections.
Fearing the influence of Russia, Western leaders seem not to be in the mood to try to kill the "cunning" Djukanovic to retreat.
Between 1696 and 1918, Montenegro had seven leaders, who ruled for 32 years on average. One of the secrets of their success was a good balance between opposing clans.
Asked whether the situation in the Montenegrin society is the same, Djukanovic has briskly responded that, unlike previous leaders, he was elected by the citizens.
A recent survey has shown that as many as 71 percent of Montenegrin citizens want the leader to be "strong and determined".
The secret of Djukanovic's success is clientelism.
One official of the ruling party claimed in 2012 that in a snapshot (the "Snimak" affair - an example of the news section of the "Vijesti" portal) four votes in the elections for the ruling party were secured on every single employee in the public sector.
Still, the last demonstrations show that many people are saturated with Đukanović.
"There has been a change of political atmosphere in recent years," analyst Daliborka Uljarević said. Anyone who dares to criticize the work of the Government risks being labeled as an enemy of the state by pro-government media, just as it was the case of Uljarevic.
The political atmosphere is poisonous, and the ruling party and its allies control only 42 out of 81 seats in parliament.
The tycoons from Azerbaijan, Russia, Malaysia, and the UAE have purchased properties and developed a luxury coastal resorts, but many in the country feel that only a small group of people around Djukanovic has been enriched, while the rest are living with low income and poor public services.
Writer Somerset Mogam once called the French Riviera a "sunny place for suspect people". According to “The Economist,” this could be said for Montenegro.