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.

14 May 2019 - By signing the contract on the construction of electricity infrastructure for the needs of supplying the Đalovića Cave complex with the Public Works Directorate and Budva-based Elektro Tim, the Government of Montenegro is continuing activities aimed at the tourist valorisation of this location.

The government has allocated 989.433 EUR from the capital budget for this investment, and the deadline for the completion of works is five months from the introduction of the contractor into the business.

The construction of the electricity infrastructure will create conditions for further development of the Đalovića Cave complex itself and its contents. To this end, the Public Works Directorate also signed a contract with the Elektro Tim on equipping the 35 kV cell in the Nedakusi substation in Bijelo Polje, worth 29.766 EUR. Recently, it signed a contract with the Danilovgrad-based company Eurozox on the construction of the primary electricity infrastructure for this area, for which 700.000 EUR will be allocated from the capital budget.

The planned investments in the electricity infrastructure, in addition to ensuring the supply of the future complex of the Podvrh monastery, the cable car and the Đalović Cave itself, will also contribute significantly to more reliable and better power supply of households in this part of the Bijelo Polje municipality.

Đalovića Cave and the entire area in its surroundings belong to the most promising locations for the improvement of the tourist offer of Montenegro. The Government of Montenegro will invest about 20 million EUR in the construction of this complex, and if the demanding construction works on the ground take place with the planned dynamics, it is expected that it will be ready for visitors by the end of the next year.

13 May 2019 - In an interview with the Luxury Collection Montenegro Magazine, Prime Minister Duško Marković invited investors to invest in Montenegro, especially in our northern region, saying that this is an archetype of a country in which people of different faiths and nations live in harmony, a state that raised the level of security by joining NATO and a country where the most prestigious world tourism brands already operate.

"There are Aman, Chedi, Sheraton, Regent, Hilton, Melia, Iberostar, Karisma, Falkensteiner, and the first One & Only in Europe will be opening in Montenegro next year… In 2008, Montenegro adopted the Tourism Development Strategy by 2020, deciding to become a destination for upscale guests. This decision was supported by the report of the World Travel and the Tourism Council which placed Montenegro at the top of the list of destinations according to the growth rate of tourism, which amounted to 8.8%, said Prime Minister in the interview with Luxury Collection Montenegro Magazine.

He also added that the country could nowadays see that it's succeeded. Prime Minister listed the prestigious tourism brands that are present in Montenegro, which had not existed before this strategy. Similarly, after developing the Montenegrin coastal region, the country has started to valorise the resources in our Northern region strategically.

"I have stated many times that this is where our key resources lie. The Government did something that had never been done before: the capital budget for this year amounts to 320 million EUR, which is the biggest capital budget so far. More than 70 percent has been allocated to the Northern region. The Government, therefore, sent a clear message to the citizens and investors: this is what we are focusing on right now, stressed out Prime Minister Marković.

He continued that Montenegro is interested in investments, which will contribute to economic growth and increased employment, particularly in the Northern region, which is less developed. The programme “Economic Citizenship” is the concept of investing in projects of special importance for the economic interest of Montenegro, and should also be understood from the same point of view.

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.

12 May 2019 - National Parks of Montenegro, on the occasion of the European Day of the Parks, will organize a promotional ride by a new tourist train to NP Biogradska gora and educational workshops at Visitor Centers in NP Lovćen and NP Durmitor.

"For many years, the National Parks of Montenegro has marked the European Day of the Parks with educational and ecological activities to raise public awareness of the importance of their preservation and protection, as well as to promote their natural and cultural values ​​that stand out from other European protected areas," said the director of National Parks of Montenegro, Elvir Klica.

According to the representatives of National Parks of Montenegro statement, the European Day of the Parks is also an opportunity to point out the challenges that Montenegro faces in the process of their management, seeking optimal solutions in cooperation with relevant entities, as well as promoting the tourist offer based on active holidays.

"National Parks of Montenegro will organize, on May 24th, a promotional ride by a tourist train to NP Biogradska Gora for representatives of competent institutions that contribute to the management and promotion of protected areas. On the same day, after a cultural and artistic program, the activity of walking along the educational path is planned at Biogradsko Lake accompanied by an expert guide, as well as a tasting of autochthonous products from the area of ​​Bjelasica and Northern Montenegro," emphasized Klica.

Also, under the slogan "Nature, Our Treasure", which was proposed this year by the Europark Federation, there will be educational workshops in NP Lovćen and NP Durmitor.

On the occasion of the European Day of the Parks, on May 24th, following the Decision on the number of fees, the entrance fee for all visitors of National Parks of Montenegro is free.

12 May 2019 - President of Montenegro Milo Đukanović opened the Montenegrin Pavilion at the 58th Venice Biennale in Italy. Besides the President, the Honorary Consul of Montenegro in Italy, the Ambassador of Great Britain in Montenegro, Alison Kemp, numerous artists, benefactors and friends of Montenegro also attended the ceremony.

At this year's sixth independent participation at the Venice Biennale, Montenegro will be presented with the project "Odyssey (Flying Objects)",  by artist Vesko Gagović. The curator Petrica Duletić made the decision, and the commissioner of the Montenegrin pavilion is Nenad Šoškić.

"Here in Venice, in the Montenegrin Pavilion at Malipiero Palace, in the year when with Italy we celebrate 140 years from establishing diplomatic relations, the opportunity is to recall the strong and fruitful cultural connection between our countries. And one curiosity. It was here in Venice, where at the First Art World Exhibition in 1895, Prince Victor Emmanuel and Princess Jelena Petrovic, the future respected Italian queen met, which made ties between Montenegro and Italy marked with a unique interstate friendship," said President of Montenegro Milo Đukanović.

He also added that Montenegro, as well as Venice and Italy, belong to the Mediterranean circle in which culture was born and where artistic heritage was created, on which Europe is based to a great extent.

"With the Renaissance, Montenegro has also entered a great cultural revival. On the borders of eastern and western civilization and their permeation, the then Montenegro was especially developing construction and church painting on frescoes and icons. Immediately after the invention of the press, with which the world stepped in the new era, our first printer on the Latin alphabet Andrija Paltasic man from Kotor was working in Venice. Already in 1494, in Cetinje, the Cyrillic printing press of Crnojevic family began to work with printing machines delivered from Venice," said Đukanović at 58th Venice Biennale.

Đukanović concluded by saying that Montenegro believes in the power and strength of artistic activity that defines the authentic Montenegrin mark of belonging to European cultural society of diversity, a society of freedom, peace, and progress.

The theme of this year's Biennale edition is "May you live in interesting times".

The Art Director of the 58th Venice Biennale, which will be open until November 24th, is Ralph Rugoff.

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

12 May 2019 - Minister of Foreign Affairs Srđan Darmanović delivered a speech at a ceremony marking Europe Day in Podgorica.

"Montenegro, which we have built together on the principles of civil society, its history and culture, the ideals of justice, equality and freedom, has long since belonged to Europe," Minister Darmanović said, adding that membership in the club of the most developed democracies today is the primary foreign policy priority of Montenegro.

"In the process in which we work patiently to achieve the standards of the European legal system and high principles of the rule of law - the process of European integration, our entire society takes part. By providing strong and convincing majority support to Montenegro's accession to the European Union, citizens show that this process is their choice and the way they want to go," said the head of Montenegrin diplomacy.

Head of the EU Delegation to Montenegro Aivo Orav also spoke at the celebration in Podgorica. He said that Europe Day is celebrated each year in memory of the declaration of French Foreign Minister Robert Schuman, which announced the project of reconciliation and unification in Europe, and a new form of political cooperation.

Within today's celebration, the Foreign Minister also played a chess game with President of the European Chess Union Zarub Azmaiparashvili.

11 May 2019 - At its latest session, the Government of Montenegro adopted the Report on the perception of employers on the relevance of higher education in Montenegro.

In order to obtain information from the labour market on the needs of employers and to better understand the level of compliance of higher educational programmes with the needs of the labour market, the Ministry of Education conducted two surveys in 2013 and 2019 within the project "Higher Education and Research for Innovation and Competitiveness - INVO". The results of the research from the current year shows that there are significant and positive changes in the quality of higher education.

Most employers think that university graduates are sufficiently trained for the job they have been educated and are ready to respond immediately to job requirements. On the other hand, the importance of practice, that is, practical teaching as a compulsory part of the study programmes, is particularly emphasised, both for professional development and for finding employment easier.

At the end of the discussion, it was concluded that this research provides useful data for line ministries or the Government, which are very important for further consideration of enrollment policy at higher education institutions and the improvement of study programmes, to establish a balance between supply and demand in the labour market.

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