15 July 2019 - The owner of Uniprom KAP Veselin Pejović and Prime Minister Duško Marković put into operation a new silumin factory, noting that every new product in Montenegro is a step forward to a new workplace, and each new workplace strengthens and increases the quality of life for citizens.

"When we were visiting the entire complex in late March, we saw that a new modern industrial centre is practically developing here. Unfortunately, we had to keep in mind that the rise of the new Aluminium Plant (KAP) was followed by, I would say, a hysterical wish for this project to fail. But the new factory that will make products that can go directly to the halls of the automobile or avian giants, defies the skeptics and opponents of modern development. Every new product in Montenegro is a step towards a new workplace, and every new workplace is strength and an increase in quality on the path to the European quality of life of our citizens," the Prime Minister underlined.

The Prime Minister said that this investment and everything that has been done so far, including new development programmes, deserves respect and unquestionable institutional support.

"But for me, the resistance of Mr Pejović and his team to destruction, propaganda and defamation to withstand the rise of the KAP with domestic brains, energy and determination are equally important and worthy of respect. That is why we need more of these practices in order to quickly develop our economy, of course with the help of the Government's determination and planning," said Prime Minister Duško Marković at the opening the new silumin factory.

The project of the new factory for the production of aluminum alloys in the form of small ingots is worth more than 10 million EUR and involves the opening of dozens of new jobs.

The Prime Minister said that Montenegro should be encouraged by the fact that after decades of lagging, it changed the direction of the country’s industry and took the step forward with industrial production to the extent of the economy's needs.

"The modern way from natural resource to finalised product is long and it is not rational to cultivate ambition that it can be rounded up in national frameworks. Even much more powerful economy than ours cannot do it. But it is the duty of all of us, at least in certain areas such as the aluminium industry, to do as much as we can on our own. From today on, with a new factory within the Uniprom KAP, we can take a step further," Prime Minister Duško Marković concluded.

In April 2019, marking the start of construction works on the factory of aluminum billets/logs within the Uniprom KAP , Minister of Economy of Montenegro Dragica Sekulić said that continuation of aluminium production is of great importance for the overall economic development of Montenegro, and through announced investments "Uniprom" will continue to strengthen its position on the aluminium market, which will greatly contribute to strengthening the Montenegrin economy. Within the same timeframe, Veselin Pejović said that in addition to the already installed silumin factory, which will produce 30,000 tons of special alloys of an outstanding foreign market value of 75 million USD, the company is starting to implement the next project, which includes the construction of a new factory of aluminium billets/logs.

14 July 2019 - According to the latest available data for 13 banks in the system, that is, data by the end of May 2019, key components of the Balance Sheet of Central Bank of Montenegro over the one-year period records growth: assets (8.51%), loans (8.95%), deposits (6.16%) and capital (11.42%), Governor of the Central Bank of Montenegro Radoje Žugić told in an interview with Dnevne Novine daily.

Governor Žugić indicated that the Central Bank has been implementing activities referring to further improvement of the capacities for carrying out supervision over banks, as well as the activities for an adequate implementation of the regulatory framework that is in its drafting phase. He also underlined he was extremely satisfied after the meeting held with the IMF (International Monetary Fund) delegation, as they assessed the CBM was doing well and moving in the right direction. Governor Žugić was especially glad to hear the IMF’s statement that “there were no adverse effects from the two non-systemic banks on broader banking sector”.

According to Žugić, apart from positive assessments when it comes to the economic growth of Montenegro and fiscal consolidation that the Government has been effectively implementing which significantly contributes to the improvement of Montenegro’s public finances, the representatives of IMF, during their previous mission, analysed the situation in the country’s financial system as well. The general opinion is that the CBM is trending in the right direction in terms of the activities on improving the structure, instruments and processes of the banking supervision and the prevention of money laundering. In addition, IMF representatives share the CBM opinion that it’s extremely important to implement the planned audit over the quality of total assets of the banking sector (AQR). “We jointly noted that AQR would contribute to the adequate collateral valuation process in the asset classification and the allocation of share for potential bank loan losses, which would make the overall banking sector even more stable and resistant to potential unforeseen losses,” said the Governor of the Central Bank of Montenegro.

“It is true that the CBM was in the focus of the public from the introduction of bankruptcy at IBM and Atlas Bank and that it has often been heard that these two events "have shaken" the stability of the banking system. To argue with such claims, with the ultimate goal of stabilizing the depositors and preserving the stability of the financial system, in the past months we have had very frequent communication with the public. We regularly published information on the status of the main banking indicators at the system level, which confirmed that there are no risks for depositors of other banks,” said Žugić, denying all claims that stability of the banking system of Montenegro is jeopardised.

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13 July 2019 - President of Montenegro Milo Đukanović, at the invitation of Ahmet Erentok, President of the Board of Directors of Azmont Investments, visited the works at the Portonovi resort in Herceg Novi.

On this occasion, the preliminary works of the first phase of the construction, contents and activities, which will be available to the local and international public from 1st of August this year, were shown for the first time.

When Azmont Investments entered the Montenegrin market in 2012, its contractual obligation was to invest 52 million EUR in the first four years, or 258 million EUR in eight years. By the end of June this year, Portonovi’s investor invested 469 million EUR, while the total investment after all works would be close to 1 billion EUR, the company stated. In all segments of the project, an average of 1,560 workers are now engaged.

Đukanović said that he is impressed with what he saw in Portonovi, adding that the implementation of the project from the first day to the present seemed almost unbelievable. A lot of works have been completed already and everything was done according to what were the most optimistic expectations.

"This is a serious chance to solve key economic and social problems in the country and a key opportunity for Montenegro's development, primarily in these activities that really represent the best development opportunity for our country," noted Đukanović according to the report of the Cabinet of the President of Montenegro.

The Resort spans over 26 acres and consists of 1.8 kilometers of an exclusive coastal area with 214 residences. World brands, such as the first One & Only hotel in Europe with the Espace Chenot Health Wellness Spa Center, and D-Marine with 238 berths and the ability to receive boats up to 120 meters long, are part of the Portonovi’s resort offer. Within the marina, a border crossing is also envisaged.

Portonovi settlement is designed in a traditional Mediterranean style with a combination of bohemian and Venetian architecture, concerning Montenegrin history, tradition and culture of life and construction. With its completion, the quality and standards of Montenegro's tourist offer will significantly increase.

"I am pleased to note that in the final I can see that through the realization of the resort such as Portonovi, Porto Montenegro, Lustica and many other venues that are in preparation, we realize the vision of Montenegro as a European prestigious tourist destination where many people from Europe and beyond Europe recognize something that is truly the most valuable quality of our space and our people," concluded Đukanović.

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13 July 2019 - The Communication Team of the Interdepartmental Commission of the Council for NATO launched a media campaign aimed at improving providing information to the public about all the aspects of Montenegro's membership in the North Atlantic Alliance, as Government of Montenegro reported.

A multi-month campaign has been created in line with the Communication Strategy - Montenegro NATO member for the period until 2020, adopted by the Government of Montenegro on 28 June last year and in partnership with NATO and the experts of the Government of the United Kingdom, with whom the Government Montenegro developed its first Communication Strategy.

During the campaign, the Communication Team will, in partnership with the interested media and NGOs, open up topics related to NATO membership that are of interest to the public.

A public opinion poll conducted prior to the development of the Communication Strategy Montenegro NATO member for the period until 2020, as well as research carried out during the preparation of the campaign, commissioned by two specialised agencies, showed that most citizens of Montenegro feel safe in their environment, and Montenegro in general.

Furthermore, more citizens of Montenegro today feel more secure than they felt before the country became a member of NATO.

Although citizens are divided in their opinion about the sense of security, a slightly higher proportion of the Montenegrin citizens believe that Montenegro is safer today than it was ten years ago.

The Montenegrin citizens who are against NATO say that the country "should be neutral". However, almost half of them (45%) cannot name any neutral state in Europe. They consider some of the countries neutral that are founders of NATO (Norway) or that are members (Slovenia).

Both advocates and opponents of Montenegro's membership in NATO share the view that the key aspect of membership is the security of the country.

According to the research, more citizens believe that Montenegro’s membership in NATO has contributed to regional security. The number of citizens of Montenegro who consider that Montenegro’s membership in NATO does not contribute to regional security has declined.

12 July 2019 - Prime Minister Duško Marković visited the newly built 9 km long and 3,9 million EUR worth section of the Cetinje - Ivanova Korita road from Lovćen to Krstac.

"This road is built according to all standards beyond the usual standards for local roads. It has all the characteristics of a regional road. Congratulations to the Directorate of Transport and the Contractor on excellent job," said the Prime Minister.

This is the way, the Prime Minister added, to continue our policy of development of road infrastructure as a fundamental support or precondition for the overall development of Montenegro.

"There is no development of Montenegro, there is no development and exploitation of its potential without high-quality transport, energy and digital infrastructure. Today we are witnessing a project that confirms the vision of the development of a new and modern Montenegro. Today Cetinje is getting an infrastructure facility, a road enabling not only tourist, but overall Cetinje social, cultural and identity potential to become available not only to the citizens of Montenegro, but also to all those who come to Montenegro," Prime Minister Mrković pointed out.

The Prime Minister recalled that this is only one of the investments that has been completed and that other projects are underway.

"The public has already been informed that a tender has been invited for the construction of a new road from Cetinje through Čevo to Nikšić worth 37 million euros. At the same time, the Transport Directorate is working on finding a project solution for a new road from Krstac to Kotor and Radanovići, which will further link Cetinje with the Montenegrin coast," said the Prime Minister.

Prime Minister Duško Marković said he is safe in the knowledge that all this will make Cetinje get a completely new physiognomy that will be stimulating not only for Cetinje but also for the entire Montenegrin economy.

"This is a good policy that gives young people new opportunities to work, earn, form their families, and not to leave Montenegro," Prime Minister DuŠko Marković concluded.

Construction works began in March 2018 and finished on 8 July 2019 and according to the report of the Public Relations Service within the Government of Montenegro, the total value of the works is 3.892.192,45 EUR.

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

12 July 2019 - The world’s tallest building Burj Khalifa was emblazoned with the colors of the Montenegrin flag in celebration of the Statehood Day of Montenegro.

The flag-inspired projection was the result of cooperation between the Embassy of Montenegro to the United Arab Emirates and the company ‘Emaar’ owned by Burj Khalifa.

“The event confirms friendly relations and good cooperation between the two countries and having in mind Burj Khalifa is one of the most popular attractions in Dubai, this was a wonderful opportunity for the promotion of our country,” Ambassador of Montenegro to the United Arab Emirates, Dušanka Jeknić, stated, according to CdM's report.

Minister of Culture of Montenegro Aleksandar Bogdanović recently participated in the Culture Summit Abu Dhabi 2019, at the invitation of United Arab Emirates Minister of Culture and Knowledge Development Noura Al Kaabi. This year's Summit discussed the role of culture in global challenges and the impact of creativity and technology on positive changes in the world.

At this Summit, Minister of Culture of Montenegro Aleksandar Bogdanović talked with the representatives of the participating countries about similar experiences in the areas of development of cultural and artistic creativity and creative industries and the preservation and protection of cultural heritage. Opportunities for cooperation on joint projects of creative industries, promotion of cultural diversity, protection and conservation of cultural heritage and digitization were also discussed. 

On the occasion of the Statehood Day of Montenegro, the flag-raising ceremony was held in Toronto in front of the City Council.

Branko Aleksić, one of the founders of the Toronto-based Montenegrin Cultural Society, hoisted the Montenegrin flag this year. This ceremony has been traditional since 2017 and it’s held every year right in front of the City Council, Toronto, where most Montenegrin immigrants live.

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

12 July 2019 - NLB Bank is the winner of the Best Bank in Montenegro 2019 Award, granted by the renowned financial magazine Euromoney. Lucy Fitz George-Parker, Emerging Europe Editor, handed over the award to Martin Leberle, Chief Executive Officer of NLB Bank, at a ceremony held on July 10 in London.

During its several decades of business in Montenegro, NLB Bank, as a system bank, has built the position of a reliable and responsible partner with a distinctive quality of service.

The prestigious award for the Bank of the Year confirms that NLB Bank is recognized as a credible financial partner to citizens and the economy even outside of Montenegro’s borders, providing strong support in the development of the environment in which it operates.

Despite its tiny size, Montenegro remains a profitable and highly competitive banking market. The Balkan state’s largest lenders all posted strong results last year, with subsidiaries of both Société Générale and Slovenia’s NLB Group notching record net profits. However, it is NLB Banka that wins the award for best bank in Montenegro thanks to its impressive growth, superior efficiency and progress on innovation; it is said in the official statement by Euromoney.

“Ranked fifth in Montenegro by total assets, with a market share of 11.1%, NLB Bank more than doubled its return on equity to 14.9%. This was driven partly by lower net impairments and provisions – non-performing loans fell 2.8 percentage points during the year to 5.2% – but also by rising revenues. Net interest income rose by 9.9% thanks to double-digit growth in retail lending, while non-interest income was up 12.9%. A new ‘super-fast cash loan’ product, offering five-minute decision-making in-branch or via Viber, proved particularly popular with Montenegro’s retail borrowers,” explain Euromoney’s experts.

On the corporate side, NLB Bank coordinated the first joint cross-border financing with its parent group for a real estate development project on the Montenegrin coast. Combined with a 0.6% reduction in operating costs, the jump in net profit brought NLB Bank’s cost-to-income ratio down to a sector-beating 51.8%. Capitalization meanwhile remained comfortable, with the overall capital adequacy ratio increasing by 1.3 percentage points in the 12 months to the end of December to 16.2%.

"We are proud of this significant recognition that confirms our long-term goal - to be the best bank in Montenegro. We have worked hard to achieve this goal by focusing on the process optimization and sales channels of the bank in order to provide a unique user experience and customer satisfaction. All that we did contributed to the achievement of the best financial result in 2018, and the trend of positive business is recorded for the fifth consecutive year. A good result has enabled us to keep the leading position in the market and remain a respected brand in Montenegro. This result would not have been possible without the great commitment of all employees in NLB Bank, but also without the support of a strong NLB Group, which is dedicated to building its position as a financial, banking expert in Southeast Europe, "said Martin Leberle, on behalf of the Management Board of NLB Banka, on the occasion of winning the prize, reports CdM.

London-based Euromoney Magazine belongs to the group of the world's most influential financial magazines, which publishes global information for financial experts and top managers since 1969. Since 1992, Euromoney has been granting the Awards for Excellence, and this year it received nearly 1,000 applications from banks in a reward program covering 20 global, 50 regional awards and best bank awards in almost 100 countries.

The "Bank of the Year" award, which this magazine awards, is considered one of the most prestigious international awards in the field of finance and banking.

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12 July 2019 - The conclusions after the twenty-third Smell of Linden and Honey Festival recently organised in Cetinje are that due to the high quality to which domestic producers pay great attention, but also because of all the measures that are being taken to market original and safe products, traditional, autochthonous, quality Montenegrin honey can be considered as a national brand.

At the Smell of Linden and Honey Festival, all visitors could find honey from Mount Lovćen, sage’s honey, honey from Ljubotinj, mead, propolis, propolis drops, propolis spray, propolis balm, honey with black chocolate, bee wax etc.

Deputy Prime Minister Milutin Simović visited the manifestation at the Balšići market, which gathered 50 exhibitors from Montenegro and the region. During his visit to the Festival, Mr Simović concluded that he believes that by working together, Montenegrins can make an extra step in the production and placement of larger quantities of honey and honey products on the market. "The manifestation Smell of Linden and Honey Festival is the work of hardworking hosts - beekeepers who successfully connect their business with generous gifts of nature of this area, traditional, autochthonous, quality Montenegrin honey. This business is our chance and the opportunity we are trying to valorize, the joint efforts of the beekeepers, the Old Royal Capital of Cetinje, as well as other local governments, beekeeping associations and the Federation of Beekeeping Organizations and the Government, which has been creating more and more support to the agriculture sector, especially beekeeping for a number of years,” assessed Simović.

Opening the manifestation, the Mayor of the Old Royal Capital Cetinje, Aleksandar Kašćelan, estimated that thanks to the proactive policies and incentives of the Government of Montenegro, beekeeping is becoming more and more popular and more profitable. He assessed that in Montenegro, honey can be rightfully referred to as a national brand. "First of all, because of the quality to which domestic producers pay great attention, but also because of all the measures that are being taken to market the original and safe products. This is especially because of the good prospects for the placement of large quantities of the honey produced in Cetinje and generally Montenegro on European and other markets, which highly value brand and good image,” said Kašćelan.

The smell of Linden and Honey Festival 2019 was organized by the Association of beekeepers Cetinje, with the support of the Cetinje Municipality, the Tourist Organization of the Old Royal Capital and the Ministry of Agriculture and Rural Development.

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11 July 2019 - President of the Parliament of Montenegro, Ivan Brajović, handed out 13 July awards for 2019 to Dragan B. Perović, for the author TV series  “Crnogorci sentom po svijetu”, cycles of TW shows “Myth exorcist” and his book “Stefan Perović Cuca – orepak bića”, Božidar Šekularac for the book “Montenegro in the time of Crnojevići” and to Pavle Goranović for the book under the title “Poetry”.

Brajović pointed out that the 13 July Uprising was one of the noblest historical books of Montenegro, whose old pages had been printed in the oldest state printing shop in the world.

“This book echoed the freedom of our homeland. It is the book that is being written even nowadays and it must not ever be finished as it would be the end of Montenegro. Histories are written, and states live along with their people,” said Brajović, as CdM reported.

If there had not been 13 July, contemporary Montenegro would not exist, he continued.

“That day in 1878, when our independence was confirmed at the Congress in Berlin; or that day in 1941 when a new, liberated Montenegro was born. That is what we are celebrating. We are celebrating the Statehood Day in an independent Montenegro and we are presenting 13 July awards,” Mr Brajović.

He said we lived in the time when a word, uttered or written, given or taken, started to devalue. Instead of uniting, a word divides, foils, it targets and makes everything relative.

“In such times, only wisdom can outlive the interest and the spite, just like rationality can outlive anemia and lethargy. Therefore, we must be wise and patient, because the truth will always find its way. We are here to keep our word and do what we had decided. For all these reasons, it is my pleasure to be here today and present our creators with awards,” said Mr Brajović.

He said that today “we are reaping what our ancestors had sowed”. Everything that survived many decade-long droughts and floods, snows and winds; everything that outlived ideological, religious and other differences and conflicts; everything that reinforced the sparkle of Montenegrin statehood and weaved Montenegrin sky into the civilization constellation.

"Today, we are worshipping Montenegrin victims who fought against the greatest evil of humanity – fascism. And you, dear award winners, thank you for your work and dedication. Your success and your achievements are the success and achievements of Montenegro,” stated Brajović.

Dragan B. Perović said that the award was the crown of many-decade long work, effort and desire to make a contribution to the Montenegrin cultural milieu.

“Montenegro is above us. It’s been immersed into the misfortunes and troubles of others for so long, letting them make up for their lack of history using its own values. We must come back to our own selves and render of decisions on your own, relying on our own striving and bright traditions,” said Perović.

The decision on granting 13 July awards was reasoned by the president of the Jury, Rajko Todorović Todor, who said that the works of the laureates represented the durable value of the Montenegrin culture and science.

Speaking about the works of Božidar Šekularac, president of the Jury said that 28 publications testified to his continuous commitment to scientific and pedagogical works and represented a significant contribution to Montenegrin historiography.

He said that Pavle Goranović is one of the most prominent Montenegrin poets, whose poetry is filled with numerous philosophical associations and implications. His book, “Poetry”, is characterized by the maturity of the expression and language, a connection of space and worlds, making this author one of the most important figures at the Montenegrin literary scene.

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

10 July 2019 - Minister of Culture Aleksandar Bogdanović made a national statement at the Global Conference for Media Freedom in London, sponsored by the governments of the United Kingdom and Canada, stressing that for the Government of Montenegro, freedom of the media is the basis of democratic life.

"All legal and institutional mechanisms, responsibility and trust the Government of Montenegro has among citizens are directed at establishing a society in which credible media affirm a credible public. We are committed to the prevalence of public interest over any particular, political or corporate one. In that regard, we learn from your best democratic practices and experiences, from your suggestions and good recommendations, because the struggle for the media freedom is ultimately the fight for the widest freedom of both the media and society," he said.

Minister Bogdanović recalled that the current normative environment in the regular annual reports of the European Commission noted on several occasions as "a good level of legal compliance". Ministry of Culture of Montenegro reported that he also reminded of the words of the Ambassador of Great Britain in Montenegro, who recently said that "Montenegrin press is the freest in the region and usually expresses a wide range of opinions".

"The Government of Montenegro, with the previous financial support activities and the envisaged measures of the future Fund for Pluralism of the Media, financial support for self-regulation and fostering public awareness of the importance of media literacy as a critical understanding of content analysis, wants to continuously encourage and promote the media as a controlling, social and critical corrective of all phenomena in society," Minister Bogdanović emphasised.

He pointed out that the obstacles facing Montenegro are not related to freedom of the media and freedom of expression, but to challenges of stronger implementation of the rule of law.

During his activities in London, Minister Bogdanović signed the Final Document on Media Freedom.

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