News

15 Sep 2019, 15:05 PM

15 September 2019 - Seventy-one individuals have well more than 1 million EUR on deposit at the end of August, the Central Bank of Montenegro (CBCG) told Dan daily. This data refers to both residents and non-residents.

The representatives of Central Bank also explained that the largest amount of money deposited was 31.9 million EUR, adding that the central bank didn’t collect data about the clients’ jobs.

At the end of 2018, as CdM reports, the number of individuals who had over a million euros on deposit was 69, which is by 2 per cent less compared to the situation in August 2019. "The total amount of the 10 largest deposits of individuals in Montenegro (residents and non-residents) amounted to 88,2 million EUR at the end of August this year, while the total amount of the 10 largest deposits of residents amounts to 32.4 million EUR," said the representatives of the Central Bank of Montenegro.

According to the data of CBM, the number of millionaires in Montenegro is increasing each year. In 2017, Montenegro boasted 64 millionaires, while in 2016 there were 54.

The CBM data also shows that in 2017, the largest amount of cash kept on deposit was 63.3 million EUR, while now it amounts to €31.9 million.

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

15 Sep 2019, 14:12 PM

15 September 2019 - The wastewater treatment plant in the capital will be completed in late 2022 or early 2023, Podgorica Water Supply Director Filip Makrid announced for Nova M.

In addition to building the collector, according to Director Makrid, around one and a half million euros will be spent on capital investment this year.

“We were able to secure a financial structure of around 45-46 million EUR. This financial structure consists of 11 million grants and 35 million funds received as a loan from Kfe Bank. We launched the implementation of this major project. What I can tell you now is that we did the preliminary reports as the first phase of consulting services,” Makrid said. According to him, the contractor for the wastewater treatment plant will be selected early next year.

“From now on, we hope that the project will be completed in about 30 months as planned, i.e. the contractor will have an obligation to build the main project or project documentation following the tender procedure and then to execute the project within 24 months. We expect that between the end of 2022 and the beginning of 2023, the citizens of Podgorica should have a new facility and that the facility will be ready to service the capital's services within the next 25 years, ”he added.

As CdM reports, Makrid also announced that, with the help of the Government of Montenegro, as well as with the funds of Podgorica Water Supply Enterprise, one and a half million euros will be spent on capital investments this year.

“We have launched the activities on realization of the project in Lješanska nahija, where we have contracted about 250 thousand euros, in the villages of Bigor, Brežine, on the rehabilitation of primary and secondary network. On the other hand, in the next seven days, a tender will be opened for the construction of the Kaluđerovo oko and Kamenica primary pipeline. The estimated value is around 300 thousand euros and we hope that in this way we will look at some 500-550 thousand euros to invest in some continuity in the area of ​​Lješanska nahija," he said.

The company is continuously working on expanding the sewage network and building atmospheric sewage. However, activities in the municipality of Golubovci are also not missing.

“With the construction of the water supply network for Breislavci settlement, we are actually completing activities on the construction of water supply network in Mahala settlement. Water Supply Podgorica has also reconstructed several rural waterworks that were technically defective. In doing so, they ensured that the water reached the outermost village. About four million euros have been invested in the past for these purposes. In the entire rural area, we have regular water supply starting from Bioče, Piperi, Vranjine, and Komani. Construction work for the building for the employees of the company is going on as planned. Eighty-two employees will receive keys to the apartment in early October," Makrid concluded.

15 Sep 2019, 13:15 PM

15 September 2019 - The summer parties on the Budva Riviera are not over, confirm the organisers of the Beach Fest (Montenegrin: Fešta na plaži), which will be held on Sunday, September 15, in Rafailovići, organized by the Tourism Organization of the Municipality of Budva and the Local Community of Bečići.

Budva’s Beach Fest was held for the first time two years ago at the initiative of the locals that inhabit Rafailovići. Each year, the festival offers a rich entertainment program to citizens and tourists, and it improves their stay on the Budva Riviera at the end of the summer months. Just as the organisers aimed at the very beginning when they first put great efforts into organising the festival, “Fešta na plaži“ has now become a tradition.

This year’s program of Budva’s Beach Fest begins at 7 pm with the performance of the ensemble Toć, a local band from Tivat and Kotor. From 8.30 pm the audience will be entertained by the acoustic band Trio Gušt, and after them, at 10 pm, the guests will be able to enjoy the performance of the regional star Željko Vasić.

For this occasion, local caterers will prepare delicacies for all visitors, and a particularly interesting part of the program will be the sailing of decorated local boats.

The charm of this small fishing village and the quality program of the event make the Beach Fest perfect end of summer event, so the organisers invite all locals and tourists to join them tonight, on Sunday, September 15th in Rafailovići and have a great time.

15 Sep 2019, 12:39 PM

15 September 2019 - The credit rating agency Standard and Poor’s recently published a new Report for Montenegro, which confirmed the previous outlook of the country that has been marked as "stable", while preserving the B + / B rating, reports Montenegrin Ministry of Finance.

Credit analysts of this agency confirmed that Montenegro is on the right track of development.

Assessing the trends in Montenegro’s economy, the Standard and Poor's emphasized the significant results achieved in the sectors of tourism and energy and the considerable inflow of Foreign Direct Investments (FDI). The strong performance of the tourism sector supported the real growth of almost 5% in 2018, which is the highest growth that Montenegro recorded in the past decade. This trend is continued in 2019 because tourist arrivals for the first six months increased by 20 % compared to the same period last year.

Significant foreign investments provide a great contribution to the rating. According to the projections of the Agency, the FDI will amount to an average of 10% of GDP per year in the next four years, and they are mainly concentrated in the real estate sector, hospitality, and the energy. The on-going projects in the hospitality sector include several high category coastal resorts and hotels for tourists with preferences in the area of mountain tourism.

At the same time, the representatives of this credit agency welcome the completion of several significant projects in the energy sector, such as the reconstruction and upgrading of power plants, the new capacities for the production of electricity and the Montenegro – Italy submarine cable that will enable Montenegro to export electricity. According to the report, the aforementioned sectors represent the base for further growth of Montenegro’s economy and the potential to boost Montenegro’s credit rating.

Furthermore, the Agency considers that the construction of the highway, as a public investment encouraged growth as well. After completion, the Government expects that the highway will connect the coast of the port of Bar and the border with Serbia, bringing together remote regions and improving road safety.

Standard and Poor's welcomes the Montenegro’s EU path as a candidate country, highlighting the important potential in the implementation of the reforms, which harmonise with the EU acquis and a large part of the population support to the EU integration, in addition to the stating that Montenegro has built relatively strong institutional frame in the regional context.

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

14 Sep 2019, 19:10 PM

14 September 2019 - Prime Minister of Montenegro Duško Marković hosted Director-General for Neigbourhood and Enlargement Negotiations at the European Commission Christian Danielsson. 

The meeting expressed satisfaction with the appointment of candidates as members of the European Commission, noting that the proposal to appoint more people from the region of Southeastern Europe to significant positions is a confirmation of the European perspective of the Western Balkan countries and an encouragement for further affirmation of European policies and values.

"I believe we will also take this opportunity. There is no dilemma that Montenegro, as a responsible state and leader of integration and reforms in the region, will further strengthen the integration process as a whole and will strengthen its commitment and efficiency in fulfilling its obligations, which must produce good results," Prime Minister of Montenegro Duško Marković noted in the announcement provided by his office.

Prime Minister of Montenegro Duško Marković pointed out that the success of the integration process depends not only on motivation and commitment but also on evaluating the results.

PM Marković informed Mr. Danielsson that the implementation of the Government's policies in the field of anti-corruption, rule of law and media freedom resulted in the corruption investigations within the system, a new Council of the Anti-Corruption Agency, termination of attacks on journalists and the media and the proposed set of media laws that were harmonized with the European Commission.

Furthermore, the Prime Minister and the Director-General for Neigbourhood and Enlargement Negotiations discussed issues of economic cooperation in the region and aspects of attracting European investment in specific Montenegrin strategic infrastructure projects. 

Head of the Delegation of the European Union to Montenegro, Ambassador Aivo Orav, and Head of the Mission of Montenegro to the EU, Ambassador Bojan Šarkić also attended the meeting.

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

14 Sep 2019, 11:34 AM
September 14, 2019 - Camp Mamula - the fascist concentration camp on the island of Lastavica was disbanded 76 years ago. Traditionally, September 14 is marked to commemorate the suffering of our ascendants. 
 
The Association of National Liberation War Veterans of 1941-1945 for Boka and the Luštica Local Community are organizing today a gathering in the fortress Mamula on Lastavica Island to commemorate the inmates who darkened and lost their lives in this casemate from 1942 to September 14, 1943, when the last detained and tortured patriots came out of Mamula.
 
Veterans 'associations, delegations from other cities, victims' families will this year lay flowers and evoke memories of the time of the suffering of Bokelians and patriots from other parts of ex-Yugoslavia, who paid the price of their fight against fascism on Mamula by famine, hardships, and their lives.
 
Beside Bokelians, representatives of the Trebinje Municipality have joined the descendants and worshipers of the victims of our anti-fascists from Budva, Kotor, Tivat, and Herceg Novi, as there were a large number of detainees from Eastern Herzegovina in the camp. The organizers of the commemoration also sent a call to 'veterans' organizations from the cities of South Dalmatia this year, because the victims of Mamula were also from that area in large numbers, but no organization responded to the invitation.
 
Representatives of OHM Mamula, which leased the island for 49 years to transform the former concentration camp, with the full support of the Government of Montenegro, into a luxury tourist complex, will also lay flowers.
 
Former Mamula prisoners, Ivo Markovic from Budva and Nada Lucic Seferovic from Morinj, as well as guests from Sopot near Belgrade, joined the commemorative rally today.
 
The Mamula Fortress is in the process of being transformed into a 33-room high-class hotel and spa resort. The complex will house a 96-square-foot memorial gallery, four catering establishments, and a water sports club. Access to the island and the fort will be free on completion of the works; OHM Mamula representatives have repeatedly said.
 
Veterans' organizations, families of Mamula victims, anti-fascists and guests have today been granted a two-hour stay on the island for the commemorative rally.
 
The event is attended by representatives of the War Veterans Association 1941-1945. , the Municipalities of Herceg Novi, Veterans' Organizations of Cities in the Region, Consul of the Republic of Serbia in Herceg Novi, Zoran Dojčinović, representatives of the Municipality of Trebinje and Sopot near Belgrade, as well as several non-governmental organizations, including the Center for Civic Education.
 
Today, the famous Novi Sad journalist and director Aleksandar Reljic is also present in Mamula. He deals with the topic of anti-fascism in his documentary films. Reljic is in a commemoration for the second time to film "Mamula All-Inclusive," a project that was presented and highly rated at the Sarajevo Film Festival this year.
13 Sep 2019, 21:29 PM

Herceg Novi Municipality has formalised its friendship with the Portuguese city of Estarreja with a memorandum signed by the mayors of the two municipalities, Stevan Katić and Diamatino Sabina. As announced after the signing, the Memorandum of Friendship and Cooperation aims to deepen and strengthen ties, with the intention of a future twinning between the two municipalities.

According to the mayor’s office, friendly relations between Estarreja and Herceg Novi have been ongoing for several years, and were established under the auspices of the cross-border project “TIPS4EU”. Partnership in the project enabled the two municipalities to gain insight into spatial and socio-economic specificities, as well as an affinity with each other. The partners then decided to sign the Memorandum, bearing in mind the significance of fostering cooperation and friendship between European municipalities, with an emphasis on exchanging experiences in various areas of development and promotion of intercultural dialogue.

“As city leaders, we need to develop international cooperation, we have an obligation to be open towards other cities and foster friendship. We always have a lot to learn from each other,” stated the Mayor of Estarreja Municipality, Diamantino Sabina.

Estareja potpisivanje memoranduma 1

Signing of Memorandum - Herceg Novi Municipality

 

As he stated, Herceg Novi and Estarreja have many geographical and cultural differences, but also have similarities. Both are coastal cities, and their people share the same mentality - open-minded and hospitable.

We are all the same if our heart is in the same place. I am certain that our cooperation will be very fruitful and, despite our linguistic differences, we will understand each other very well,” announced Sabina.

Estareja potpisivanje memoranduma 2 e1568361073646

Signing of memorandum Herceg Novi Estarreja - Herceg Novi Municipality

 

He called on the leaders of Herceg Novi to make a return visit, in order to better understand the possibilities in the areas where links could be established.

There is significant space for cooperation in the area of culture, bearing in mind that the two cities are quite similar when it comes to what they offer culturally.

“Estarreja also holds a carnival, similar in some ways to our Mimosa, and also has a street art festival. It is interesting that both cities have houses belonging to Nobel Laureates, in Estarreja belonging to António Egas Moniz who received the prize for medicine, and in Herceg Novi belonging to writer Ivo Andrić,” stated the Mayor of Herceg Novi Municipality Stevan Katić.

He added that they planned to apply jointly for financing from international funds, through which both cities would aim to secure financial support for a range of projects. 

The local authorities state that the signing of the Memorandum with Estarreja is just the start of active cooperation between Herceg Novi and numerous local governments. Over the past two years, friendship and twinning agreements have been signed with cities in China, Russia, Western Europe and the region. The ultimate goal is to make better use of opportunities for cooperation, that is the development of cultural, economic, tourism and scientific cooperation, and cooperation in the area of environmental protection and promotion, as well as for exchanging ideas and experiences, and better understanding of cultural, ethnographic and social values. 

 

Source - radiojadran.com

13 Sep 2019, 15:11 PM

13 September 2019 - Minister of Foreign Affairs Srđan Darmanović paid his first official visit to the Republic of Turkey recently, at the invitation of Foreign Minister Mevlüt Çavuşoğlu. 

Both sides assessed that the two countries cherish friendly and comprehensive relations, which are further strengthened by the alliance in NATO, and strongly connected through economic cooperation and numerous potentials for their further improvement.

The meeting emphasised the importance of further intensification of the political dialogue between the two countries, as well as intensive economic cooperation and continuous increase in trade in goods and an increase in the number of foreign direct investments.

The officials agreed that the two countries are cooperating well within NATO with a view to a more stable and secure environment.

Minister Darmanović said that the opening of the Consulate General of Montenegro in Istanbul, as well as the Turkish Consulate in Bijelo Polje, will contribute to the improvement of bilateral relations. He also stressed the continued contribution of the Turkish Cooperation and Coordination Agency (TIKA), adding that the country sees the scholarship of Montenegrin students as a valuable support in upgrading knowledge and development.

Minister Çavuşoğlu said the visit was a continuation of intense dialogue, which resulted in a high degree of mutual understanding and cooperation. He reiterated Turkey's commitment to strengthening relations between the two countries, agreeing that economic cooperation and trade were recognised as priority areas.

Foreign Minister Çavuşoğlu said that Turkey and Montenegro are intensively cooperating in the field of defence, culture and transport, and stressed the importance of its further improvement, both in the mentioned fields and in the field of health and education, reported the Ministry of Foreign Affairs of Montenegro.

Minister Darmanović also met with Speaker of the Grand National Assembly Mustafa Şentop and Vice President of Turkey Fuat Oktay. The interlocutors pointed to the importance of the multi-ethnic harmony by which Montenegro was recognised and discussed relations in the Western Balkans region, economic and parliamentary cooperation.

During his official visit to Turkey, the Minister laid a wreath on the eternal house of Mustafa Kemal Atatürk, and visited the mausoleum dedicated to the founder of the Republic of Turkey.

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

13 Sep 2019, 10:48 AM
September 13, 2019 - The seventh edition of the Big Game Fishing Competition in Herceg Novi is scheduled for September 18-21. At the end of the high tourist season, 12 miles from the Boka Bay entrance, 20 teams with more than 100 participants will compete in one of the most popular sport fishing disciplines.
 
Big Game Fishing, which gathers lovers of fishing for big fish, extends the season in Herceg Novi. The competition has an international character and many visitors are coming to Herceg Novi, so all apartments are sold out in the area of the city port of Škver, said the president of Big Game Fishing Club Herceg Novi, Radojica Raco Gardašević.
 
"This year's edition will be the biggest tournament so far, with over 20 teams already registered. Participants come from Germany, Russia, France, Poland, Switzerland, and Serbia. Twelve teams from Montenegro were reported. Teams typically have 2 to 5 members, among them are experienced fishers and celebrities. Like every year, we expect famous faces from the world of business and public life to be among the participants," Gardasevic told Radio Jadran.
The ships will sail every morning from Škver City Harbor at 8 am, returning, all hoping for a good catch, around 6 pm.
 
The youngest fishermen have not been forgotten this year either, so the "Little Game Fishing" - a competition for the ages of seven to fourteen - was announced for September 21, from 10 am to 1 pm. A boat will take the children to Rose, where the competition will be held. For this purpose, hooks, hers, instructors, and sandwiches and refreshments will be provided. Parents are invited to join.
 
During the Big Game Fishing event, at the Jadran Restaurant, participants and guests have the opportunity to enjoy a music program each night, performed by musicians from the cities of Boka. On the first night, the Tivat ensemble Toć performs. The following evening, the acoustic duo of Đurđa and Kristijan from Kotor will take care of the good mood. The Low Voltage duo performs at the awards ceremony and the closing of the 7th Big Game Fishing.
 
The Herceg Novi City Music and Majorettes will celebrate the award ceremony at the Škver. All visitors will have the opportunity to observe the weighing of the catch and the announcement of the winners. That night dinner will traditionally be served not only for the participants of the tournament but also for all those who find themselves in Škver.
 
The tuna, swordfish, lampoon and albacore fishing competition is organized by the Big game fishing club Herceg Novi, the Montenegrin Sport Fishing Association and the Tourist Organization of Herceg Novi.
 
Source: Radio Jadran
12 Sep 2019, 19:51 PM

12 September 2019 - Montenegro will establish two centres of excellence in the field of food science and biomedicine, worth 2,5 million EUR, of which the state will co-finance 1,8 million EUR in three years.

The Government of Montenegro has adopted the Information on Support for the Establishment of New Centres of Excellence, which elaborates the results of a new competition conducted this year. The competition resulted in two very high-quality proposals, according to which the Ministry of Science will enter into funding negotiations. The total value of the two projects is about 2,5 million EUR, of which co-financing from the state budget is 1,8 million EUR for three years.

The first-ranked centre is in the field of food science called: Centre of Excellence for Digitization in the Field of Food Safety and Food Authenticity – FoodHub by Prof. dr Aleksandra Martinović, reports the PR service of the Government of Montenegro.

The second-ranked centre refers to research in biomedicine. It is headed by Dr Vjeroslava Slavić.

The main features of this instrument of support of the Ministry of Science are:

- creating strong cores of the scientific and innovation ecosystem, bringing together researchers and experts who focus on full-scale research, recruiting and scholarships for young researchers;

- creating or significantly improving products or services for a well-defined industry that can help existing Montenegrin businesses improve their international competitiveness by integrating advanced knowledge, technology and innovation into traditional sectors of the economy and

- establishing international cooperation, which is a very important factor in the operation of the centres, as they should be the hubs through which we more effectively connect with Europe and the world.

Minister of Science, Sanja Damjanović congratulated the teams of both top-ranked projects on extremely well-prepared applications, but also praised other proposals through this competition which showed that there are many quality ideas in our community, that people are willing to work on implementing complex programs that can bring visible improvement in to our society and especially to the economy, with the expectation that negotiations with the two first-ranked teams will be successfully completed by the end of this year when their realization will begin.

12 Sep 2019, 16:56 PM

12 September 2019 - Minister of Sports and Youth of Montenegro Nikola Janović opened the Regional Capacity Building Training for the winners of the projects under the RYCO Second Call for Proposals for project financing. Minister of Sports and Youth of Montenegro Nikola Janović expressed satisfaction with the fact that the regional training was being organised in Montenegro and emphasised that in this way it is confirmed that the regional cooperation is a priority of Montenegro, particularly in the area of youth policy.

"The Government of Montenegro and the Ministry of Sports and Youth from the beginning provide unambiguous support for the functioning of the Regional Office for the cooperation of young people, as so far the most visible product of the Berlin process. In the non-governmental and educational sector, we see a strong partner and we can influence the creation of enabling environmental activism and mobility of young people necessarily by joint efforts," Minister Janović pointed out.

The Minister of Sports and Youth of Montenegro Nikola Janović pointed to the significance of organising a five-day training that represents great opportunity to strengthen the professional capacities of youth organisations and secondary schools with the aim of better implementation of youth projects.

"I am convinced that through this training you will get the chance to join forces, boost mutual cooperation and partnership trough the policy of reconciliation, interculturalism, participation and social inclusion of young people throughout the region," Minister Nikola Janović said reports Ministry of Sports and Youth of Montenegro.

Minister of Sports and Youth of Montenegro Nikola Janović congratulated youth organisations and secondary schools on the obtained financial support for the implementation of the project and thanked the Regional office and the OSCE Mission for the strong support to the youth sector in the Western Balkans countries. 

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

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