14 October 2019 - According to the preliminary data on foreign trade exchange from the Statistical Office of Montenegro, in the first eight months of 2019, Montenegro has exported goods worth 263,4 million EUR.

Compared with the same period last year, the export remained at the same level. The data shows that this year, Montenegro mostly exports aluminium, electricity and bauxite.

Ms Jadranka Kaluđerović, economic analyst and director of the Institute for Strategic Studies and Projections, said to Pobjeda daily that the structure of Montenegro’s export “clearly indicates that it relies on natural and not human resources”.

"Montenegrin exports still rely more on what nature has given us, rather than on our knowledge," Kaluđerovic said. In order to achieve the goal – to rely on knowledge, Montenegro must, first of all, invest in the knowledge of children.

“Only the market can show what will dominate in the future. I hope new products, the result of our youth’s ideas, will take over: new applications, software, new organizational solutions, new platforms to connect and more”, said Ms Kaluđerović.

In the structure of exports, the most represented products are classified by material in the amount of 66,5 million EUR, which are made of non-ferrous metals, that is, primarily aluminium with a share of 42.7 million EUR and iron and steel with 13.75 million EUR. This shows that products by Aluminijski kombinat and Toščelik are still dominant in the export structure.

The export of aluminium has declined by 19% in the first eight months of 2019.

In the same period, iron and steel export have increased by 5,2%. The value of total exported electricity amounted to 42,17 million EUR, by 11% more than in the same period last year.

MONSTAT shows that the export of mineral ore, bauxite primarily, amounted to 31,6 million EUR.

Total Montenegro’s foreign trade exchange amounted to 1,99 billion EUR, by 2,1% more compared with the same period last year.

Imports amounted to 15,3%, less than in the same period last year.

The biggest foreign trading partners in export were Serbia (63,2 million EUR), Hungary (31,5 million EUR) and Bosnia and Herzegovina (20,6 million EUR).

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

13 October 2019 - Amendments to the Internal Trade Act will begin on Monday, which stipulates that wholesale and retail trade in Montenegro cannot be performed on Sundays and public holidays.

The first non-working Sunday is October 20th. The law was adopted on June 20, and the largest Montenegrin retail chains support this legal solution, although some expect that traffic in their stores will be reduced, given that Sunday and public holidays are the most significant in terms of sales volume, writes Pobjeda daily.

Representatives of trading companies in Montenegro announced that by applying the law, their workers would be more satisfied, and consumers are expected to change their buying habits and adapt to changes and make weekly and daily purchases on other days of the week.

The representatives of the company Voli said they would obey the law but expect others to do so. Commenting on changes to the Internal Trade Act, which introduces a non-working Sunday in trade, the company recalled that they adjusted their business to market requirements and have been working on Sundays since opening the first market. “In any case, we supported the law because we believe it will have a beneficial effect on our employees. When it comes to Voli, a non-working Sunday will make it easier for us to organize our days off, there will be no job streamlining," the representatives of the company said.

The company Merkator CG, which operates Idea stores, said that the company operates following legal regulations, and will do so when it comes to amendments to the Law on Internal Trade, which stipulate that retail shopping facilities in Montenegro cannot operate on Sundays and public holiday days.

"Merkator CG is a socially responsible company and as such, welcomes the Government's measures, that will allow our colleagues from retail stores to have a free Sunday, which they will be able to spend in the family," said Mercator representatives. The management of this trading company believes that its consumers will understand these measures and that they will purchase the products they need on other days of the week.

"Mercator CG expects that these measures will change consumers' purchasing habits and that the purchases made so far on Sundays will be carried out on other days," said Mercator representatives.

Still, they warned that losses in terms of volume sales could result in even more significant losses during the tourist season. "This could adversely affect the business of commerce as a whole, but it remains to be seen in the future," said Mercator CG representatives.

The representatives of Domaća trgovina company also say that in all Aroma and Conto markets, the Law on Internal Trade will be respected so that Sunday will be a non-working day. "All organizational and structural changes in the operation of our markets and discounts have been made in order to harmonize the business with the new legal solution," said the company’s management.

The Inspection Directorate has called on businesses this week to comply with the obligation to contribute to the full implementation of the Internal Trade Act, which introduces a non-working Sunday in commerce.

The Directorate reminded all wholesale and retail trade companies of the prescribed provision of the article of the Law on Internal Trade, which will be enforced from tomorrow, which means that the first non-working Sunday is October 20.

"We warn and appeal to all companies subject to the prescribed restriction to comply with this obligation, so as not to get into the situation that the Market Inspection Directorate through market inspectors takes the prescribed administrative measures and actions and imposes fines," the statement said.

For non-compliance with this obligation, in addition to fines, an administrative measure has been prescribed, which stipulates that if the inspector determines that the trader works on Sundays and public holidays, he will close the shop or other outlets for a period during which work is not allowed. The law provides for a fine of 1,000 EUR to 10,000 EUR for the company and 200 EUR to 500 EUR for the responsible person.

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

13 October 2019 - The Airports of Montenegro will establish a Podgorica – Bari – Podgorica line as part of the cross-border On Cloud Nine project, announced the PR Service of the company.

The representatives of the Airports of Montenegro said the project On Cloud Nine, “cONnecting CLOse and Unexplored Destinations with New INter-Adriatic transport sErvices” aims to establish air links between the Italian region of Pula and Montenegro, as well as Pula and Albania, through the testing of the Brindisi - Tirana and Bari – Podgorica air routes. "This initiative will contribute to the promotion of mobility, trade and tourism in the Montenegro-Italy-Albania region by developing and improving the quality of new cross-border, sustainable and integrated passenger transport opportunities," the statement said.

At the end of September, the representatives of the Airports of Montenegro participated in a kick-off meeting of the transnational On Cloud Nine project in Bari (Italy) at the premises of Airports of Puglia.

"The meeting presented the current accomplishments related to the project, analysis of the market for passenger traffic and services of Podgorica Airport and the possibilities for the development of intermodal urban transport. In the coming period, in addition to the introduction of the airline, transnational routes will be established in cooperation with the tourism sector, "the statement added.

The airport explained that the project was co-financed under the trilateral Interreg - IPA cross-border cooperation program for Italy, Albania and Montenegro, with a total budget of 1,44 million EUR.

Get more information on travelling to and through Montenegro at TMN's dedicated page.

13 October 2019 - The situation in the banking sector in Montenegro has strengthened after addressing issues related to vulnerable banks, as evidenced by excellent indicators of key balance sheet positions with 13 banks operating in Montenegro, Central Bank (CBM) Governor Radoje Žugic said at a high-level dialogue meeting with the European Central Bank (ECB), held in Frankfurt.

Žugić explained that banks' assets of 4,6 billion EUR are at a historical maximum, while the stability of the system is confirmed by an extremely high coefficient solvency ratio of 19,5 per cent, reports Vijesti daily.

"Non-performing loans are steadily declining and currently amount to 4.75 percent of purchases, which is a significant drop from 2011, when their level was 25.9 percent," said Žugic.

Interest rates, he said, continue the decreasing tendency. "Despite low-interest rates, deposits are growing, which is a testament to the confidence in the banking system," Žugic said.

The CBM said that ECB representatives were presented with new data reflecting the situation in the Montenegrin economy, with particular emphasis on the situation in the banking sector. “The Montenegrin economy has been continuously growing for the last six years. According to official data from Monstat, last year saw a 5,1 per cent growth rate, thanks primarily to strong investment activity in the public and private sectors, as well as an increase in domestic demand and private consumption, "said Žugic.

He highlighted that there were positive trends in the fiscal sphere owing to the fiscal consolidation measures implemented by the Government of Montenegro and added that, according to the Ministry of Finance projections, public debt would have a downward trend this year.

The meeting also discussed activities undertaken by the CBM to implement the planned asset quality audit of the banking system (AQR), further strengthen supervision, especially in the segment of money laundering prevention, and modernization of the payment system.

The CBM Vice Governors, Nikola Fabris and Miodrag Radonjić, presented macroeconomic trends in Montenegro, the status of negotiations with the EU, as well as the management of international reserves and the effects of the CBM's monetary policy.

The meeting also discussed the economic situation and development of the euro area banking sector, as well as the ECB's monetary policy. The ECB, they said, offered all forms of support to the CBM in the monetary policy area, especially in the area of ​​supervision.

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

13 October 2019 - According to the latest updated data from the Civil Aviation Agency of Montenegro, 454 drones - uncrewed aerial vehicles (UAV) are registered in Montenegro, reports CdM.

In order to introduce as many drone operators as possible into regulatory frameworks, the Civil Aviation Agency launched an educational campaign this year on how to safely manage drones.

Through the conduct of this campaign, the Agency insists on the observance of regulatory frameworks in the field of civil aviation by drone operators, so as not to endanger the safety of air traffic or endanger persons and property on the ground.

Drones are experiencing real expansion, not only for aerial photography, but also prove to be very useful in controlling infrastructure, forests, agricultural goods, road traffic and the like.

"However, it is important that everyone operating the drone adheres to certain rules to avoid adverse events, such as an aircraft drone crash or dropping a drone to the ground, which can endanger people's lives and property," the representatives of the Agency explained.

In order to combat the illegal use of drones, the Civil Aviation Agency signed an agreement with the Police Directorate. This creates the conditions for joint activities to carry out more effective drone control measures. In Montenegro, the Ordinance on the requirements for the use of unmanned aerial vehicles and aeronautical models adopted by the Civil Aviation Agency in 2016 defines the conditions for the use of unmanned aerial vehicles and aeronautical models (drones) with an operating mass up to and including 20 kilograms.

The basic regulatory requirements that are placed before drone operators:

1. All operators whose drones have a mass of more than half a kilogram with a range of over 15 meters and height over 10 meters, should be registered with the Agency;

2. The registration of the drones is free of charge;

3. The approval of the Agency for carrying out an operation using drones is only necessary when it comes to heavyweight drones and if they fly closer to urban areas or gatherings of people;

4. It is forbidden to operate a drone at night;

5. It is forbidden to operate a drone near the airport;

6. It is forbidden to throw objects to the ground during the flight.

Additional rules include the fact that "the drone must be within the field of vision of the operator and within 500 meters of the horizontal distance and up to 150 meters above ground or water. Also, the drone must be at a distance more than 150 meters from people’s gathering of and more than 30 meters from people, animals, facilities, vehicles, vessels, other aircraft, roads, railways, transmission lines and similar objects. In the event of illegal use of drones, there is the possibility of fines and court proceedings for violating public order and peace, "the Agency said.

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

12 October 2019 - Moody's credit rating agency has affirmed the B1 credit rating for Montenegro, while retaining a "positive" outlook.

The credit rating is the result of high GDP per capita, optimistic prospects for EU accession, and a strong investment trend with a focus on foreign direct investment. The latest Moody's report welcomes significant investment projects implemented in the transport, tourism and energy sectors.

Furthermore, the B1 credit rating justifies the strong middle-term growth potential, supported by the implementation of adequate structural reforms, as well as the implementation of the Government's effective measures that contribute to strengthening Montenegro's fiscal position. In addition, specific Government activities have been identified that have reduced the medium-term refinancing risks in Montenegro.

The main drivers of growth are evident in the construction, transport, tourism and energy sectors. The growth was also stimulated by public investment, above all, by the construction of the priority section of the Bar-Boljare motorway, reports Government of Montenegro. On the other hand, a significant contribution to the growth was also made by household consumption, fueled by a record-breaking tourist season and positive developments in the labour market, where in the second quarter of 2019, the unemployment rate was at a historically low level of 14,3%.

The report states that 2019 will be another record-breaking year in the tourism sector, in line with an increase in arrivals for the period January - August of 17.2% and overnight stays of 9.2%, compared to the same period last year.

Finally, the report praises the legal and administrative reforms that are being implemented, especially in the context of accession to the European Union, which is a further impetus for the advancement of the rule of law while continuing to strengthen the capacities of the institutions in the coming years.

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

12 October 2019 - Influential United Kingdom’s daily newspaper, The Guardian recently listed the Morača region and Kolašin as “one of the best small ski resorts in Europe”.

On October 10, The Guardian, one of the United Kingdom's leading newspapers, posted an article on the advantages of small ski resorts, providing travel tips to its readers. The article explains that smaller resorts often offer benefits such as smaller prices, easier routes, less crowded slopes, great scenery, or unspoilt character. “From Spain to Greece, these less-obvious ski areas offer great value and a more local feel than the big, busy Alps resorts,” states the article.

The Guardian provided its readers with a detailed explanation from an individual who visited the Morača region and Kolašin. According to Ralph, due to small height variations and different tracks, the Kolašin ski resort is perfect for beginners and intermediate skiers alike. Still, experienced skiers can also find the resort interesting with freestyle tracks and unbroken snow. Kolašin offers unique natural beauties of which this whole region is famous for.

“Kolašin in central Montenegro is the most underrated mountain resort in Europe. It is a small town surrounded by the Bjelasica and Sinjajevina mountains, which rise to above 2,000 metres. Skiing costs from €30 a day including lift pass, and there are also children’s slopes with instructors. My seven-year-old loved it. The great-value Balkan cuisine is delicious and accommodation ranges from upmarket Hotel Bianca to reasonably priced log cabins. The ski slopes are 7km away and accessible by bus. For a winter holiday without queues and high prices, I’d really recommend the area,” says Ralph for The Guardian.

Aside from Kolašin, the list of “10 of the best small ski resorts in Europe” included Port Aine (Spain), Kranjska Gora (Slovenia), Champex-Lac (Switzerland), Garmisch-Partenkirchen (Germany), Sierra Nevada (Spain), La Mongie (France), Levi (Finland), Hania (Greece) and Roccaraso (Italy).

The news that The Guardian recognised the beauty of Montenegro and Kolašin was quickly noted by the Ambassador of Great Britain to Montenegro, Her Excellency Ms Alison Camp, who congratulated the representatives of the country’s tourism offer and to the representatives of the Ski Resort Kolašin 1450 as well.

“We appreciate when Montenegro is reported on in this matter incredible world newsletters. Our commitment to build new ski resorts in Kolašin and other municipalities in the North is confirmed,” said Prime Minister of Montenegro Duško Marković as a comment on the country’s accomplishment.

Read more travel advice at TMN's dedicated page.

12 October 2019 - Renowned Chinese company UTour is interested in investing in Northern Montenegro, primarily in Žabljak, where it wants to build a 100-room hotel according to the standards of the Marriott hotel chain, it was noted at the yesterday’s meeting between Prime Minister of Montenegro Duško Marković's and U-Tour Group Chairman Bin Feng.

"The Chinese tourism industry is very interested in Northern Montenegro, and given the number of the Chinese tourists visiting your country, we think it is a smart idea to have hotels in this part of the country," Mr Feng stressed, adding that the Chinese are increasingly appreciative of Montenegro’s beauty, and that when it comes to the north of the country, they find the Đurđevića Tara Bridge particularly interesting.

Noting that there have been no direct Chinese investments in Montenegro so far, that Chinese companies are present as contractors for the motorway project, Prime Minister Marković welcomed the interest and intention to invest in tourism. He added that the Government of Montenegro would create legal precondition to enable the realisation of the UTour's intention to build a hotel in Žabljak.

UTour is the largest private tour company in China, and in addition to tourism, they are engaged in international financing, as well as investment in hotel facilities. The group has invested in hotels in Japan, Norway, Switzerland, and they own a large number of travel agencies across Europe. According to Mr Feng, nearly 50,000 Chinese tourists come to Montenegro annually, and the number is expected to quadruple in the next five years.

“My Government's agenda is focused primarily on the North, which is a major construction site today. Through the Capital Budget, we have invested a lot in road, energy, utility and social infrastructure," said Prime Minister Marković.

The meeting also discussed opportunities for investment in other sectors, notably in energy, renewable energy and agriculture. Both sides assessed the good interstate relations between Montenegro and China as significant and positive.

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

11 October 2019 - Prime Minister of the Government of Montenegro Duško Marković recently paid a visit to Moračica Bridge, and on that occasion he expressed satisfaction with connecting the span structure on the largest construction project of the first section of the Motorway, highlighting that only the motorway opening will be more important than this moment. 

"I would say that this is the most important day for this entire project. Not maybe, but certainly the only moment more important from this one, is the completion of the whole motorway section and its commissioning," the Prime Minister stated. 

Prime Minister Marković took this opportunity to thank all those who contributed to the largest single construction is at this phase.

"They tell me that this is the third-largest rate bridge in Europe and among the top ten in the world, you can imagine what kind of construction project it is… This is a special day for Montenegro, a special day for all of us who are committed and follow the implementation of this project; this is a confirmation of capability and credibility not only the contractors, but also the entire team involved in this project. This is a confirmation that Montenegro can tackle these project challenges to the benefit of citizens, the state and the population standard of living," pointed out PM Marković, writes his Office.

Prime Minister Marković recalled that it is an investment worth over 70 million EUR and expressed his belief that the Bridge will be fully completed until March next year to be in optimum position function with the Motorway commissioning. 

Moračica Bridge, the most massive single structure on the priority section of the Bar – Boljare motorway, is 175 m high (from the bottom bed of Morača to the roadway of 205 m), 23,4 m wide and 960 m long. 

In addition to Prime Minister Duško Marković, Minister of Transport and Maritime Affairs Osman Nurković, chief engineer of the Bridge Duško Rondović, Ambassador of the People's Republic of China Liu Jin and CRBS General Manager in Montenegro Hei Shiqiang also attended the visit to the Bridge Moračica.

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

11 October 2019 - German public service Norddeutscher Rundfunk recently broadcasted a report on Montenegro entitled "Montenegro - From the Black Mountains to the sea" (Montenegro - von den schwarzen bergen zum meer).

The author of the show, Torben Schmidt, began his journey by night train on the border with Serbia. From Bijelo Polje, a small town with socialist charm, Schmidt goes on a journey through the mountains to the sea. “The railroad through the Dinaric Mountains, over serpentines and bridges to the coastal town of Bar, is considered to be the most beautiful railway in the Balkans. As the so-called Tito’s Railway, it was the pride of Yugoslavian railway architecture," says the author.

The show states that Montenegro owes its name to the Black Mountains. "In the country, you can find steep cliffs, deep gorges, picturesque lakes, Orthodox monasteries, Venetian architecture, sandy beaches and even a fjord like in Norway. Three climatic zones pass through the Adriatic, as large as the German region of Schleswig Holstein. Residents still have to find their way between the challenges of the post-socialist squad, the lavish Balkan sentiment and the chance of a still undiscovered tourist destination in Europe," says Schmidt.

After the railroad trip segment, the film presents a passionate mountaineer, Milan Radović, who, as the first Montenegrin to climb an eight thousand meters peak, still proclaims Montenegro the most beautiful country in the world.

In the rock monastery Ostrog, which was a refuge for the locals during the Ottoman siege, the author talks with a young pilgrim; and on Lake Skadar, he interviews an ornithologist who has devoted himself to the protection of the pelicans. Finally, the Schmidt reaches the Montenegrin coast and gains insight into the lives of Montenegrin fire-fighters and a local water polo coach.

The National Tourism Organization of Montenegro supported this project of the German production company Elbmotion pictures from Hamburg, whose representatives visited Montenegro last year.

Get more information on why and when you should visit Montenegro at TMN's dedicated page.