18 April 2019 - Credit rating agency Moody's confirmed in its new report the assessment of the credit rating B1 for Montenegro while retaining a "positive" outlook. The last available credit rating for Montenegro was also B1.

This credit rating is primarily due to the high GDP growth per capita, the institutional strengthening supported by the perspective of EU accession, attractiveness for foreign direct investment, as well as significant investment projects in transport, tourism, and energy. In parallel, the positive outlook with the B1 rating reflects the favourable mid-term prospects of the country, supported by adequate structural reforms, as well as the consolidation measures the Government has continuously implemented, which contribute to strengthening the fiscal position of Montenegro. Furthermore, the Government has taken adequate measures to reduce the risk of medium-term debt refinancing significantly.

The report states that the growth of GDP in 2018 of 4.9% was primarily driven by investments, but also another year of a record-breaking tourist season. In addition, positive trends in the labour market supported growth in household consumption, with an increase in employment, while the FDI inflow was slightly lower than in the previous year, but with a still high 9% of GDP.

According to the Report, the weaker global economic outlook will contribute to lower growth rates. Despite this, Montenegro foresees a healthy business cycle, with growth rates at 3.0% in 2019 and 3.2% in 2020, that is, above the 10-year historical average of 1.9%.

As a major backbone of the future development of Montenegro and further improvement of the credit rating, it is stated that strengthening of the competitive position will be achieved through the implementation of projects in the sectors of tourism and energy, as well as mitigation of external risks.

In this year's report, Moody's has highlighted that Montenegro is the forerunner in the process of EU accession among the Balkan countries, which represents a further impetus for the improvement of the rule of law and institutional capacities in the coming years. Since the start of EU accession talks in June 2012, Montenegro has opened 32 out of the 33 negotiating chapters and has three temporarily closed chapters.

18 April 2019 - Numerous environmental campaigns, with an emphasis on climate change and environmental protection, will be held in Montenegro on April 22 - Earth Day.

On this occasion, Montenegrin Olympic Committee (MOC), Montenegrin Ministry of Sustainable Development and Tourism and representatives of the United Nations Development Programme will sign a Cooperation Agreement on the realization of the Games of the Small States of Europe, which will be hosted by Montenegro from May 27 to June 1.

As announced by UNDP, with the slogan “Be fair by nature”, Montenegro 2019 is part of the Programme “Green Games”, supported by Olympic Solidarity, whose goal is to create a sustainable sport event. It consists of 3 phases: the creation of the environmental standards related to the organisation of sporting events, education, and promotion.

The project of the Montenegrin Olympic Committee "Not just a field game – be fair by nature", which promoted sport and its role in environmental protection was rated as one of the best projects in this area within the Olympic solidarity of the International Olympic Committee.

For the organization of Games MNE2019, the Montenegrin Olympic Committee, as the leading carrier of this project, will employ more than 500 volunteers, over 250 members of associations and clubs as well as 50 employees from five Montenegrin municipalities working in sports, that will all undergo training which integral part will be a GREEN aspect of the MNE2019 Games.

The goal of education, but the complete project as well, is that all national associations and their technical staff pass training and adopt these solutions and recommendations, and implement them when organizing all future events in Montenegro.

"More than five thousand people from all over the world have applied to participate as one of 450 volunteers who will contribute to the organization of Games and help the organizers to present Montenegro as a good host," the statement said.

The UNDP said that Montenegro would host competitors from Liechtenstein, Cyprus, Iceland, Monaco, Luxembourg, Andorra, Malta and San Marino.

After the signing of the Agreement on Cooperation, as announced, a tree planting project is planned in front of the Morača Sports Centre in Podgorica, with the participation of the Mayor and officials of UNDP, the Ministry of Sustainable Development and Tourism and the MOC.

"The tree planting will be organized simultaneously in Budva, Tivat and Cetinje in the presence of the city’s Mayors and representatives of the organizers of the Games of Small European Countries - Montenegro 2019," said the official announcement.

18 April 2019 - During the past week, President of Montenegro Milo Đukanović received the President of the Parliament of Iceland Steingrimur Sigfusson, who was on an official visit to Montenegro.

The President of Montenegro expressed his satisfaction with the visit of the Icelandic Parliament President, which represents an opportunity for further improvement of relations between the two countries.

"With the exceptionally positive emotion and the relationship that Montenegro has towards Iceland, the country that first recognized our independence and ratified the NATO accession protocol, the dynamics of the meeting at the high and highest level opens up the impression that the relations of the two countries will continue to go only as an upward line," said the President of Montenegro.

He particularly pointed out the possibilities of cooperation in the field of agriculture and fisheries, as well as the exchange of experiences in tourism, investment, and trade. Referring to the achievements of Montenegro in the period since the renewal of independence, Đukanović briefed the interlocutor on the priorities of state policy after joining NATO, integration into the EU and the continuation of dynamic economic growth.

"The date of admission to the EU does not burden us; we are committed to this process primarily because we want to be part of the European value system. That is why we are strongly committed to implementing institutional and structural reforms and creating a stable investment environment," he said.

The President recalled the reasons for the decades-long lag of the Western Balkans for a developed Europe that warns that there is no alternative for this region and that it is important to catch the connection with European development and thus strengthen the stability of the Western Balkans. 

The President of the Icelandic Parliament highly assessed the relations of the two countries with excellent predispositions for strengthening cooperation. In addition to fishing and trade tourism, he pointed out the possibility of joint action in the field of energy. President Sigfusson expressed full support for Montenegro's integration aspirations, recognizing that integration is an optimal framework for improving the quality of life of citizens in this region. European relations for Montenegro can only bring good, he stressed.

"It is jointly estimated that Montenegro and Iceland as small countries through intensive dialogue and cooperation can further affirm their positions on the international scene and through the principles of multilateralism. We must work as small countries together, and this is why we are more and more wondering among big players," said the Parliament President in Iceland, adding that international cooperation of small countries is vital.

17 April 2019 - Prime Minister Duško Marković met with the ambassadors of the EU member states in Brussels, within the continuation of the dialogue on the process of Montenegro's accession to the European Union, its results and challenges as well as European perspective. 

The Prime Minister informed the ambassadors about political and economic developments in Montenegro, pointing out that Montenegro sees no alternative to its future in the Euro-Atlantic and European space. 

"As a country in transition, we are aware of our weaknesses, challenges, but we do not hide them, we do not yield to them and we strongly use the experience, support and consultations of our partners. We are a candidate country that does not want membership in the EU until we are fully prepared for it. We do not want to be a new problem in the EU, but a quality, we do not want to jeopardize the value of the EU, but to contribute to it," Prime Minister Duško Marković said at the meeting. 

Informing the ambassadors about the Government's successful economic policy, the Prime Minister said that the deficit has been halved and that there is no fear for the sustainability Montenegrin public finances, noting that Montenegro recorded very high economic growth rates - 4.7% in 2017 and 4.9% in 2018. In this regard, the Prime Minister said, growth was recorded in all sectors - tourism, energy, agriculture, industry, trade.

PM Marković pointed out that Montenegro is successfully fighting organized crime, stressing that in the past year the State carried out decisive actions to break up the strongest criminal organizations. 

"It is evident that organized crime loses the battle with the State. Institutions are getting stronger and more efficient. This fight in the country we are building cannot and will not be equal," the Prime Minister told the highest diplomatic representatives of the EU member states in Brussels. 

Prime Minister Marković highlighted the EU's investment in the region of the Western Balkans, which in the past ten years amounted to more than EUR eight billion, and the trade in the recent years amounted almost EUR 50 billion, with a growing trend in favour of the region. "The citizens of the region should know and be aware of the EU's direct participation in the development of our region," Prime Minister Duško Marković said. 

The ambassadors emphasised that the region of the Western Balkans has a European perspective and emphasised the fact that Montenegro is undoubtedly the leader of the integration process. In terms of European integration of Montenegro, they praised the fact that Montenegro has fully harmonized its foreign and security policy with the common European Union policy.

Montenegro's attitude towards other countries in the region and country's policy of good neighbourly relations and dialogue are highlighted as a positive example, with the assessment that Montenegro represents a stabilising factor in the Western Balkans. 

Furthermore, the meeting discussed the political situation in our region. PM Marković took the opportunity to reiterate Montenegro's full support to the historic agreement of North Macedonia and Greece. 

Chief Negotiator with the European Union Aleksandar Drljević also attended the meeting, organised by Romania which is currently holding the Presidency of the Council of the European Union. 

16 April 2019 - On April 16, Prime Minister Duško Marković hosted the President of the European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti who is on an official visit to Montenegro. During the meeting, it was noted that Montenegro has achieved excellent results in economic policy, has a good development prospect and numerous opportunities for progress and investments with the support of the European Bank for Reconstruction and Development.

"My compliments for the accession of Montenegro to NATO as well as for the progress made in relations to the accession to the EU. Our job is to help, to invest in the region, to bring it closer. Montenegro is ahead of other countries in these aspects," said Sir Chakrabarti. The EBRD President also pointed out that in many projects the EBRD partners with the EU as well as in policy reform and the improvement of the investment climate.

He congratulated Prime Minister Marković on the results in economic policy - achieved growth, revenue growth, and pointed out that foreign financial markets look positively at the developments in Montenegro, which was shown when the Eurobonds were issued last year.

Sir Chakrabarti said that Montenegro plays a special role in the Western Balkans and it has a special place within the EBRD as a whole, for it is in Montenegro that the EBRD has its highest per capita investment.

"And we have a good reason for this - we have good investment conditions," Chakrabarti said, adding that there are fantastic opportunities for new investments in Montenegro and support from the EBRD.

PM Marković said that the Government is focused on the economy, creation of new jobs and providing a better standard of living. He pointed to the importance of previous EBRD support to state institutions and enterprises, as well as the private sector. The meeting discussed further strengthening of cooperation in the field of tourism, energy and infrastructure, without whose improvement there is no dynamic development.

Both sides agreed that it is important to continue structural reforms, reducing the grey economy, strengthening competitiveness and the business environment.

14 April 2019 - Lipa Cave, the first cave adventure in Montenegro that offers a fascinating diversity of karst features to provide visitors with a unique experience of the underground world, officially opened for visitors on April 1.

Located near Cetinje and visited by more than 20 thousand people per year, the cave traditionally opened its beautiful and wild system of 2.5 km of passages and halls for visitors this April.

The representatives of tourist company Lipa Cave recently announced that the ticket prices remained the same as last year. The ticket price for adults is 10.9 EUR, for children up to five years 1 EUR, and for children from 5-15 years old 6.9 EUR. The family package costs 29.9 EUR and includes two adults and two or three children up to 15 years of age. The price includes parking, a train drive to the cave and back, a tour of the cave, a guide and insurance.

All the tours of the cave begin with a train ride that departs from the Lipska Cave parking lot and arrives at the cave entrance where all the visitors get off and eagerly await the start of their tour.

Each year, Lipa Cave offers two types of tours, so visitors have the opportunity to choose The Cave Tour that is accessible to everyone and has the length of 600 meters and The Extreme Tour aimed at adventurers. "Aside from the regular tours, additional services such as wine tasting and a mini-concert of classical music in the cave will be organised," said the company's representatives.

As explained by the tourist organisation Lipa Cave, the cave was open for tours since 2015. All visitors of the cave are accompanied by local guides who are kind, helpful, and well-trained. Cave tours are easily accessible as Lipa Cave is located only 33 km from Budva, 35 km from Podgorica, and 5 km from Cetinje. Its built-in trails and modern lighting make it even more attractive and perfectly safe. The cave is preserved in line with high environmental conservation standards. Only a year later from its opening websites like Montenegro Travel, Trip Advisor, as well as many others recommended Lipa Cave as one of the best places to visit in Montenegro. All the efforts of the TO are focused on providing an unforgettable cave adventure to the cave’s visitors, which has placed it on the list of the attractions you must see in Cetinje.

13 April 2019 -  Italian Air Force Eurofighter aircraft were launched for the first time to execute a NATO Air Policing mission over Montenegro.

In the morning of 9 April 2019 Italian Air Force Eurofighter based at Gioia del Colle Air Base some 20 km south of Bari, Italy, was launched by NATO's Combined Air Operations Centre at Torrejon, Spain. The mission was to intercept a civilian airliner that lost communications with civilian air traffic control over Croatia and was heading south towards Montenegro and Albania.

Two Eurofighter aircraft who are on alert to protect NATO airspace over Italy, Albania and Montenegro under the auspices of the Alliance, successfully intercepted the aircraft only a few minutes later. The Eurofighter pilots a visual check of the aircraft to rule out illegal action, technical or any other issues. 

It was established that the loss of communications was related to a misunderstanding between civilian air traffic control and the airliner crew. After resuming regular contact with the civilian controllers, the airliner continued to proceed to its destination in Hurghada, Egypt.

Allied Air Command is in charge of all Air and Space matters from northern Norway to southern Italy and from the Azores to eastern Turkey. All missions support NATO’s strategic concepts of Collective Defence, Crisis Management and Cooperative Security.

Source: NATO Allied Air Command

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

11 April 2019 - Prime Minister Duško Marković met with Prime Minister of Croatia Andrej Plenković in Dubrovnik for talks on bilateral relations and boosting economic cooperation.

"We discussed how to further improve bilateral relations, maintain a high level of political dialogue, but also upgrade economic cooperation within the region," said Prime Minister Marković, who is taking part in the Eighth Summit of Heads of Governments of Central and Eastern Europe Countries and the People's Republic of China, taking place in Dubrovnik.

The Prime Minister stressed that he agreed with the Croatian Prime Minister that during this year, within the preparation for taking over the presidency of the Council of the European Union, Prime Minister Plenković will visit Montenegro and that all the options related to the Western Balkans and its progress towards the EU, which Croatia could have in its agenda during the presidency, will be discussed.

"We also discussed some conditionally outstanding issues. We agreed that these are not issues that are unsolvable, but that we need to tackle them in the short term and show the ability to be responsible and able to solve outstanding issues and not archive them," the Prime Minister told the press following his meeting with Prime Minister Plenković, adding that in the future he expects further progress in bilateral relations in all fields.

When asked by reporters about his expectations of the 16+1 Summit, Prime Minister Marković said that Montenegro's position was based on very good political relations with China.

"Within this process, we also discuss cooperation in the field of economy and infrastructure development. You know that we are almost in the final phase of the construction of the first section of the motorway in Montenegro. I will emphasise during my meeting with Prime Minister Li Keqiang on the following day the importance of this project and the significance of completing this project by mid-2020," the Prime Minister of Montenegro noted.

"The continuation of cooperation on the motorway construction, as we have already received an offer from the CRBC, according to the model of private-public partnership, will be discussed as well," PM Marković stated.

"It is my great pleasure that within this Summit, and supported by other Summit participants, we will be able to discuss the establishment of a creative hub in Montenegro for all members, which is very important in terms of cultural cooperation, innovation," Prime Minister Marković noted.

He added that these are all issues that will be part of the Summit agenda, stressing that he has significant expectations of the Summit.

11 April 2019 - Expert for the integration of post-communist countries into NATO and president of the Project on Transitional Democracies, one of the leading NGOs in Washington, Bruce Jackson, points out that there will be more and more American investors as Montenegro is getting closer to the EU.

No country has ever moved so fast towards the West like Montenegro has – ever since the Cold War. Not only the government, that is, presidents, prime ministers and ministers of foreign affairs should take credit for such results, but also exceptional men and women in Montenegro who have been working with commitment in ministries and overseas embassies. And, of course, Brussels, that has accelerated the integration, says Bruce Jackson.

He remembers numerous meetings that have been held with Milo Đukanović and Milan Roćen in the last twenty years. Each time, the future of Montenegro in NATO and the EU was the main topic.

“Milo Đukanović has always emphasized the Montenegrin way towards NATO. 2006 was the turning point when Montenegro became an independent state, and the door of the EU and NATO opened wide. Ever since the Cold War, no country has made such great progress towards its way towards the West”, says Jackson.

He agrees with the accession to the EU being Montenegro's top priority.

“All the values that brought Montenegro into NATO will be the same ones that will bring it to the EU. However, insisting on some artificial dates is senseless. It only hinders the entire process. The accession process is like studying. It doesn’t matter how long you study, as long as you learn something. It’s important that Montenegro keeps closing the chapters”, said the American expert.

Asked how Montenegro could attract American investors, he took Croatia as a positive example.

“Once the Montenegrin story is spread, and once it gets closer to becoming an EU Member State, you can expect just the same economic expansion in Montenegro as well”, said Jackson.

He also spoke about the case of terrorism and the trial that is almost over.

“We are all working hard on stopping Russia’s intervention in the elections in other countries. We must hope in the forthcoming decade that the Russian-Ukrainian war will finish and that the relations between the EU and Russia will normalize”, said Jackson.

Source: Cafe del Montenegro