Mba Business Directory 2015

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BUSINESSDIRECTORY 2 0

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AGRICULTURE

IT ANDTELECOMUNICATIONS

TRADE

TRANSPORTATIONCATERING

AND TOURISMPRODUCTIONAND INDUSTRY

SERVICES

ENERGETICS


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S E R V I C E S

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Obala 13. jula


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M E M B E R S H I P

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KREDITI

ZA BOGATUBUDUĆNOSTCRNE GOREB E S P L AT A NC A L L C E N TA R 080 012 012

www.irfcg.me


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Welcome to Business Directory 2014 ............ page 8

MBA Staff ........................................................ page 10

Montenegro Outlook ....................................... page 11

Directory ......................................................... page 20

Agriculture .............................................. page 22

Banking and Finance ............................. page 23

Catering and Tourism ............................. page 26

IT and Telecommunications ................... page 36

Production and Industry ......................... page 42

Services ................................................. page 65

Trade ...................................................... page 84

Transportation ................................................ page 91

MBA Membership ........................................... page 93


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W E L C O M E T O B U S I N E S S D

I R E C T O R Y

International Recognition ASAE

American Society of Association Executives (ASAE)within its program “Associations make a better world”announced Montenegro Business Alliance as thewinner for 2004 in the category of advocacy, among28,000 contestants, for its Business Agenda and itscontributions in advocating for policy change.

ATLAS Foundation award

Montenegro Business Alliance was awarded the prizeMontenegro Business Alliance was awarded the prizeby Atlas Foundation, within the ceremony of awards tothe best organizations and associations in the world inthe area of advocating for better conditions for doingbusiness and an increase of economic freedom.

The prize was awarded for campaign “10% forMontenegro” which was conducted by the MontenegroBusiness Alliance from April 2004 to December2006. The goal of the campaign was to introduce a

proportional system of taxation and reduce all taxrates to a level of 10% or lower. As a result of MBAadvocacy, Montenegro today has the lowest tax rateon corporate pro t in Europe, which is 9%, and thetax rate on wages is 9% with. MBA plan to continueits efforts in order to introduce even lower at rates inMontenegro.

Contact Info is a publication meant for businesspeople, who contain all necessary contact informationfor Government, Ministries, Consulates, domestic andforeign organizations, institutions, and media.

Business Insider is a bimonthly publication publishedby MBA to inform its members about relevant events in

the country and abroad as well as about MBA activitieswithin that period.

MBA provides these publications free of charge toits members, relevant institutions in the country andinternational organizations.

Montenegro Business Alliance also regularly updatesits web site, in order to present its activities andactivities of its members in an easily accessiblemanner. The web site address is: www.visit-mba.org

We are certain that MBA Business Directory willassist you to nd the appropriate company, product orservice that you seek.

We must give special thanks to all of our MBAmembers who provided the information necessary forthis publication, and to our sponsors who contributedto the printing of this Directory.

Your comments and suggestions may be sent to thefollowing e-mail address: [email protected]

Sincerely,

Zoran Vulević Slobodan Radović KrušoExecutive Director President

WELCOME TO BUSINESS DIRECTORY

Dear Readers,

Welcome to the twelfth edition of the MontenegroBusiness Alliance Business Directory for 2015. Whenwe started this publication in 2003, our main goal wasto gather an offer of Montenegrin companies and MBAmembers on one place. The years have shown thevalidity of this promotional approach through bene tswhich this publication is bringing to members andwhole economy of Montenegro since this publicationis a unique one.

Why a Business Directory?

The primary intention of this publication is to promotemembers of the Montenegro Business Allianceoutside the borders of Montenegro, but also to connectbusinesses at three levels: local, regional and global.

Emulating developed countries and their best practices;we have approached creation of this Directory. As anintroduction general information about Montenegrois provided. The directory, itself, contains companypro les presented within the sectors in which theyoperate. In this way clearer and easier usage whensearching Directory information is provided.

We bealive that our publication is also important at thetime of economic crisis that Montenegro and the wholeWorld are currently facing with.

How everything started?

Montenegro Business Alliance (MBA) was founded

in September 2001 with the purpose to facilitate thedevelopment of the private sector in Montenegro.It began with 10 individual members, and todayMontenegro Business Alliance is the leading voiceof business in Montenegro. MBA gathers more than500 of the most successful companies which createmore than 42% of Montenegrin GDP, employ over25,000 workers and which have paid, through varioustaxes, contributions, fees, customs, excises, and 1/3of the budget of the Montenegro in the previous year.All activities undertaken so far were focused on thecreation of more favorable business environment atall levils, promotion of Montenegrin companies andcreation of conditions for improvement of privatesector development in Montenegro.

Written documents are more lasting than spokenwords! We have had that in mind since the verybeginning, and that is why we publish all so that theycan be visible and accessible to other, and, of course,encouraging for bussiness. By publishing the BusinessAgenda, MBA operates as the most transparentbusiness organization in Montenegro.

MBA’s Business Agenda is serving as a mid-termdocument and plan for the action. Since the Agendaderives from the views of our members, it trulyrepresents the business viewpoint on economicsituation in Montenegro and offer solution for existingproblems. Due to that fact MBA’s Agenda won prestigeinternational awards.


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I R E C T O R Y

Montenegro Business Alliance (MBA) is a modernbusiness association that gathers entrepreneurs,companies, and domestic and foreign investors.Since its establishment MBA has been working onthe promotion of private sector development andidentifying problems in the current laws, with theintention of contributing to the elimination of existingbarriers and to improving the general ambientoffered. Montenegro Business Alliance encompassesmore than 500 of the most successful companies inMontenegro.

The MBA’s Mission is to provide a greater in uence bythe private sector on decision makers in Montenegro,to lobby for the interests of its members, to provide itsfull assistance to the creation of better conditions fordoing business in Montenegro, and to contribute to thegrowth of employment and wealth. MBA establishesstrategic partnerships with all who wish to work uponthe realization of a.m. mission in order to achievefaster growth and development of the Montenegrineconomy.

Long -term goals of th e MBA are:

▪ to help the creation of a healthy businessenvironment for private business owners, whorepresent the main pillar of development of theMontenegrin economy;

▪ to improve the ambient for investments;▪ to provide greater participation of the private

sector in creation of a new legal framework;▪ to participate in implementation of reform laws;▪ to be a leader in achieving a national consensus

on the priorities of the future economic development of Montenegro;▪ to continuously expand the spectrum of services

to its members;▪ to build private-public partnership; and▪ to continue to increase its membership.

Montenegro Business Alliance is actively creatingan improved business environment in Montenegrothrough numerous programs:

▪ Changes of laws and regulations: In it’s workto date, MBA has proposed changes andamendments of the current laws, adopted newlaws, and submitted initiatives for the adoption orchange of regulations;

▪ Special Interest Groups: These groups are formedin order to identify problems that bother particulargroups within the MBA and are connected bymutual interest/activity, and to formulate solutionproposals for those problems.

The organizational structure is as fo llows:

▪ Prizes: In order to promote entrepreneurship andto promote the best initiatives, MBA organizesannual awards in the category of “Entrepreneur ofthe year“ and “Enterprise of the year“;

▪ International Contacts: MBA provides its memberswith contacts with foreign companies andassociations and therefore creates possibilities forcooperation;

▪ MBA Assembly: MBA organizes an annualassembly of its members;

▪ B2B Forum: MBA organizes meetings ofenterprises from Montenegro with enterprisesfrom the European region, with the purpose toimprove their business opportunities and to makenew business deals;

▪ Business Forums: MBA provides the possibilityto discuss topics such as corporate governanceor the signi cance of advocating for the businesscommunity;

▪ MBA Business Luncheon: MBA organizesbusiness luncheons with the purpose of informallyconnecting the members of the Alliance. There isalways a guest speaker (person from politics orbusiness) at the luncheon, and members have theopportunity to interact with the guest speaker;

▪ Round tables, Workshops, Presentations: MBAorganizes such gatherings in order to inform andeducate MBA members, as well as to establishbusiness relationships;

▪ Publishing: In order to promote its activities andto represent its members appropriately, MBApublishes the following publications: AnnualReport, Business Agenda, Contact Info, BusinessInsider and Business Directory.

The work of the Montenegro Business Alliance is

organized through the Assembly (consisting of allmembers), the Board of Directors (15 members),the Executive Director and MBA employees. Thebasic activities of MBA are organized through thefollowing Commissions:

▪ Commission for Membership▪ Commission for Budget▪ Commission for Education and Research▪ Commission for Accounting and Auditing▪ Commission for Banking▪ Commission for Trade▪ Commission for Wood Processing▪ Commission for Tourism and Catering▪ Commission for Transport▪ Commission for Construction▪ Commission for Media, Marketing and PR


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Name: BojanaLast name: KalezicFunction: Manager Town: Podgorica

Address: Kralja Nikole 27a/4, Poslovni centar Celebic, Sahat kulaPhone/Fax: +382 20 622 728; 622 928Cell phone: +382 67 530 876E-mail: [email protected] site: www.visit-mba.me

Name: MinaLast name: RaicevicFunction: Manager Town: Podgorica


Name: MilanLast name: DragicFunction: InternTown: Podgorica


Name: VesnaLast name: DakovicFunction: Economic advisor Town: Podgorica

Address: Kralja Nikole 27a/4, Poslovni centar Celebic, Sahat kulaPhone/Fax: +382 20 622 728; 622 928

Cell phone: +382 69 345 903E-mail: [email protected] site: www.visit-mba.me

Name: ZoranLast name: VulevicFunction: Executive Director Town: Podgorica


M B A S T A F F


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O U T L O O K

Geographic position

By its geographical position, Montenegro belongsto the central Mediterranean (Southern Europe). Itsnorthern neighbour is Serbia and at the southeast,it borders with Kosovo and Albania. On the south, itis separated from Italy by the Adriatic Sea, whereasits western neighbours are Croatia and Bosnia andHerzegovina.

Montenegro is located between 41°52’-43°42’north latitude and 18°26’-20°22’ east longitude.Montenegro’s territory spreads on 13,812 squarekm, and its terrain ranges from high mountains in thenorthern part of the country, through karst segment incentral and western part, to a narrow coastal plain.

The length of the coastline is 293.5 km, out of which 52km are beaches. The Montenegrin seaside is a verynarrow strip of land (2-10 km wide), separated fromthe inland by high and steep limestone mountains ofRumija, Sutorman, Orjen, and Lovcen. The coast isvery indented with numerous bays and coves. Thelargest and most impressive is the Bay of Kotor,which is the world’s southernmost fjord. Montenegrohas several ports and piers: Bar, Herceg Novi, Tivat,Zelenika, Budva and Kotor and two airports (Podgoricaand Tivat).

There are 40 lakes in Montenegro, and eightypercent of the territory is comprised of forests, naturalpasturelands and meadows. There are 2,833 plantspecies and sub-species growing on mere 0.14 %of the total surface area of Europe which belongs toMontenegro, which makes almost a quarter of theEuropean ora. In addition, Montenegro, on rather

small space, has even ve great National Parks(Skadar Lake, Lovcen, Biogradsko Lake, Prokletijeand Durmitor).

Geographic position of Montenegro

The capital Podgorica lies in the central part of thecountry. The distance between the Montenegrincapital Podgorica and Rome is around 500 km byair, from Paris and Berlin it is around 1,500 km, fromMoscow almost 2,000 km.

The geographic position of the country providesfavourable conditions for speci c economic activities,primarily: transport (due to traf c ow), and tourism

(because of the seaside position on the northernMediterranean).

Population

According to the Census of 20111, there are 620.029inhabitants living in Montenegro. The vast majority(over 90%) of the population of Montenegro is of Slavicorigin. Albanians make up 5 percent of the population(4.9% at the 2011 census), while there is also a smallRomani minority (0.8% at the 2011 census). The datacollected by the National Statistics Of ce (Monstat)show that in the last eight years, there were nosigni cant changes regarding numbers of inhabitantsbut migration of the population from the Northern tothe Southern and Central regions is noticeable. Thenumber of Montenegrin citizens living and workingabroad in 2011, slightly increased in comparison tothe last Census (54,816), and amounts to 56.516.

The capital of Montenegro (Podgorica) is the mostpopulated town with 187,085 inhabitants, whichrepresents 30% of the total population. The secondand third most populated municipalities are Niksic andBijelo Polje. Around 50% of the total population livesin the named municipalities.

On the other hand, Montenegrin municipalitieswith the lowest number of inhabitants are Šavnik2.077, Plužine 3.286 and Žabljak (3.599). Thosemunicipalities also have the lowest population density(less than 10 inhabitants per km ²). The municipalityof Tivat has the highest population density 307/km²,then follows Budva 157/km², Herceg Novi 132/km² andPodgorica with 130/km² inhabitants per km².

Governmental structure and internationalrelations

The referendum for Montenegrin independencewas held on May 21, 2006 where 55.5 per cent ofMontenegro’s voters chose independence. Althoughin itself one of the most signi cant political events ofthe region, Montenegrin independency also had animpact on many crucial economic decisions.

Montenegro is a democratic, welfare and ecologicalstate, which is founded on the rule of law and isgoverned in conformity with its Constitution andLaws. The government of Montenegro is based onthe principle of a division of powers into legislative,executive and judicial. Legislative power is vestedto the Parliament, the executive power to the

Government, and the judicial to the courts of law.According to the Constitution of Montenegro, its81-member Parliament holds the state’s legislativepower. Representatives are elected through directvoting by means of a secret ballot, on the basis ofa universal and equal right to vote. The Parliamenthas a President, one or more Vice Presidents, andworking bodies and commissions. The term of of ceof the Parliament is four years.

The President of the State represents Montenegro.The citizens, through direct and secret ballot, elect thePresident of the State for a period of ve years on the

basis of a general and equal voting right. Presidentialelections are called by Parliament.1 Source: Monstat


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The Government formulates and conducts foreign anddomestic policies, implements laws, adopts decreesand other regulations, concludes international treaties,and is responsible to the Parliament for its work. TheGovernment is composed of the Prime Minister, oneor more Vice Prime Minister(s) and Ministers. Thecandidate for the Prime Minister presents his programsto the Parliament and proposes the composition of theGovernment.The current members of the cabinet were elected on 4December 2012 by the majority vote in the Parliamentof Montenegro. Milo Đukanović is the current PrimeMinister of Montenegro and Head of Government.

Montenegro enjoys good relations with its neighboursand is involved in a complex process of integrationinto the Balkans. Montenegro, as a part of FRY joinedthe Stability Pact for South-eastern Europe in 1999.The crucial signi cance of this agreement is thatthrough its concluding Cooperation and AssociationAgreements, it offers the prospect of membership inthe European Union for all countries in the region. Alsoin 2007, Montenegro joined the World Bank and IMFand in 2011, Montenegro became the 156th memberof World Trade Organization. The European Council(EC) granted candidate country status to Montenegroat the December 2010 session Montenegro begannegotiations to join the EC in June 2012, having metthe conditions set down by the European Council.According to the Progress Report 2014, the EuropeanCommission concluded that Montenegro continuesto suf ciently meet the political criteria, made furtherprogress in establishing a functioning market economyand has improved its ability to take on the obligationsof EU membership. During the reporting period, tennegotiating chapters were opened, including therule of law chapters, 23 – Judiciary and fundamentalrights and 24 – Justice, freedom and security. Thesechapters were opened on the basis of Action Planssubmitted by Montenegro.Montenegro is characterized by both political stabilityand multi-ethnic harmony. It is developing goodrelations with our neighbours, and it is trying topromote the rule of law as much as possible. Theconcept of open market economy is bringing big andpositive impulses to our country. Also, the integrationprocess of joining the NATO is going forward at fastpace. In December 2009, Montenegro was granteda Membership Action Plan, which is the nal step in

an application for membership in the organization.Montenegro is considered number one candidate formembership in NATO. NATO Secretary General JensStoltenberg during his visit to Podgorica in June 2015stated that NATO Allies has decided to open a periodof intensi ed and focused talks with Montenegro andForeign Ministers of the Alliance, which will assessprogress in December. They will decide whetherenough progress has been made to invite Montenegroto join the Alliance.

EconomyIn the past few years, Montenegro has shownstrong commitment to establishing a modern marketeconomy and entering European markets. Substantial

reforms have been initiated, particularly in termsof creating business-friendly environment. Theseinclude legal and economic reforms in all areas,aimed at ensuring legal security and harmonisationwith EU legislation and economic policies. Changesin the existing economic structure and the adoption ofinternational standards are perceived as key factorsin the process of achieving Montenegro’s acceptanceinto the international community.

Montenegro became an independent state after thereferendum held on 21 May 2006. Independence wascon rmed by adopting the Declaration of Independencein the Parliament on 3 June 2006. The internationallegal status of the independent state was recognisedimmediately after that occasion by admission to themembership in the United Nations. After adopting anew Constitution in October 2007, Montenegro hastaken the rst step toward the EU membership bysigning the Stabilisation and Association Agreementwith the European Union. Montenegro formally appliedfor EU membership in December 2008. Montenegrowas awarded EU candidate status in December 2010,while in June 2012 the General Affairs Council of theEuropean Union decided to recommend the openingaccession negotiations with Montenegro. Montenegroopened accession negotiations in 2012 and has so farprovisionally closed two of the 35 EU acquis chaptersover the past year. Under the new enlargement rulesMontenegro will have to begin work on the moredif cult chapters related to the judiciary and justiceearly in the accession process.In 2002, Montenegro adopted the Euro (EUR) asits of cial currency. Montenegro became the 156th member of World Trade Organization in April 2012. Theobligations arising from the World Trade Organizationmembership will favourably impact not only the tradesystem in Montenegro, but also the overall investmentenvironment. Montenegro joined the IMF and WorldBank on January 18, 2007.

Montenegro’s economic freedom score is 64.7, makingits economy the 66th freest in the 2015 Index. Its scoreis 1.1 points higher than last year, with gains in half ofthe 10 economic freedoms, including labour freedom,freedom from corruption, and trade freedom, slightlyoffset by declines in the management of governmentspending and business freedom. Montenegro isranked 31st out of 43 countries in the Europe region,and its overall score is above the world average butbelow the regional average.

Economic freedom in Montenegro has expanded by2.2 points during the past ve years and has reachedits highest level ever in the 2015 Index. 2

Business environmentThe overall business environment in Montenegro,during the last few years, has been signi cantlyimproved by adopting strategic documents and set oflaws harmonized with the EU standards, as well as byimplementing the institutional reforms in scal system,

nancial sector, payment system and other key areas.

http://www.heritage.org/index/country/montenegro


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Montenegro’s ongoing transition to a free marketeconomy has been facilitated by structural reformsand an increasingly vibrant private sector. Along withpolicies that open the country to global commerce andtrade, competitively low at tax rates and an evolvingregulatory system have contributed to a more dynamiceconomic expansion. The existing tax regime isappraised as very favourable and one of the mostcompetitive in Europe, with proportional corporatepro t tax set at 9% with various tax incentives.

What are tax incentives in Montenegro?

• Corporate Income Tax : Newly establishedlegal entity in an economically underdevelopedmunicipality conducting a production activity shallhave the pro t tax holiday for the period of the rsteight years as of the day of the commencement ofthe activity. This does not refer to primary agricultureproduction, transport and shipyards, shery norsteel production.

• Personal Income Tax : The taxpayer thatgenerates pro t in a newly established businessunit conducting the production activity in theunderdeveloped municipality shall be entitled to apersonal income tax deduction for the duration ofeight years, except in the area of primary agricultureproduction, shipyards, shery and steel production.

• Additional incentives are introduced for hiringpeople in certain categories (i.e. long-termunemployed, disabled, etc.) in terms of socialsecurity taxes and contributions.

The tax regime for foreign investors is an additionalstimulus. Therefore, companies operating inMontenegro enjoy not only a business friendlyenvironment, but also a low tax burden.

Taxes in Montenegro

Types of tax Tax rate (%)

Income tax 9Corporate tax 9Value Added Tax 17Real Estate Transfer Tax 3Tax on used vehicle transfer/trade 5

Tax on Automobile LiabilityInsurance Premiums 6

Tax on Casco InsurancePremiums 3

Source: Tax Administration of Montenegro

Registering bu siness in Montenegro

Business procedure registration in our country isvery easy. According to the World Bank Report 2015,among 189 countries, Montenegro is ranked 36th, i.e.six places higher than in the previous year. In startingbusiness, Montenegro was ranked at 56 th place.

It takes only up to 4 working days to register abusiness. The minimum nancial requirement for aLimited Liability Company (LLC) is 1 Euro. Institution

in charge of business registration is Central Registerof the Commercial Court. It has an electronic databaseof registered business entities contracts on nancialleasing and pledges.

Only three documents are required to register a LLCin Montenegro: founding decision, bylaws and a copyof the passport - if you intend to found a company asan individual, or registration form for the speci c typeof company. Samples of all documents can be foundon the website of Central Register of the CommercialCourt at www.crps.me.Montenegrin law permits the establishment of sixtypes of companies: Entrepreneur, Limited LiabilityCompany (d.o.o.), Joint Stock Company (a.d.),General partnership (o.d.), Limited partnership (k.d),and Part of a foreign company.

Macroeconomic environment in Montenegro GDP

Gross domestic product of Montenegro in 2013amounted in total € 3.350 million, and for 2012 was

€ 3.149 million, according to the latest available dataReal growth rate of gross domestic product for 2013was 3.5%3. A moderate growth was recorded in allsectors except manufacturing sector and the realestate sector.

Graph 1: Gross Domestic Product

Source: MONSTAT and Ministry of Finance

The European Commission (EC) in its latestprojections of economic developments in the EU, theworld’s major economies and the countries that arecandidates for EU membership has increased thegrowth forecasts for the Montenegrin economy for2014th and 2015th with growth rates of 2.9 and 3.6%.Projections has been based on certain assumptionssuch as beginning of a strong investment cycle.The latest projections of the Ministry of Finance haspredicted growth of GDP by 3.5% for the next twoyears. EC has slightly revised projection of GDPgrowth for the EU and the euro area in relation tothe winter projections, with growth rates of 1.7% and1.2% in 2014.

In ation

Starting from January 2009 the in ation is measuredusing CPI (Consumer Price Index), while in the past itwas measured by CLI (Cost of Living Index).

3 Monstat – preliminary results


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After December 2012 when in ation in Montenegrorecorded an increase of 5.1%, the annual in ation ratein 2013 had a declining trend and was signi cantlylower than the previous year. In ation in 2013 waspredominantly determined by the growth in foodprices, electricity, excise taxes on tobacco, increasein the basic rate of VAT from 17% to 19%, and thedrop in fuel prices and accommodation services. Theannual rate of in ation measured by the consumerprice index in December was 0.3%.

In March 2014, prices increased by 0.1% in relation tothe previous month, while the annual in ation rate inMarch was negative (-0.9%), as well as in Decemberwhen the in ation rate was -0.3%.

Graph: Monthly CPI growth rate for year 2013

Source: Central Bank of Montenegro, MONSTAT

Employment

Basic features and trends of the labour market inMontenegro may be summarized as follows: highlong-term unemployment; high youth unemployment;marked discrepancy between supply, demand

and employment; seasonal nature of employment;signi cant increase in the number of unemployeduniversity graduates; relatively large number of foreignworkers who are employed in Montenegro; largeregional differences in unemployment and the largenumber of unemployed persons who are consideredhard to employ.

According to the Employment Agency of Montenegro,the total number of unemployed at the end of 2013amounted to 34.514, representing an increase of7.5% compared to 32.106 unemployed at the endof 2010. The unemployment rate, taken as the ratioof the number of registered unemployed and theworking population has been constantly increasingsince 2009, with the exception of 2011 when itrecorded a slight decline. At the end of 2013, theunemployment rate reached 14.88%, which was thehighest unemployment rate in the last eight years.The long-term unemployment at the end of 2013was 55.7%, which means that it was 0.8 percentagepoints lower compared to the same period in 2012.The unemployment rate, at 30 th June 2014 was13.61%., in comparison to 30th June the year before,the number of unemployed has increased by 1.198persons or 3.94%.

Source: Employment Agency of Montenegro, Monstat

Salaries

According to available data, the highest averagesalaries without taxes and contributions are recordedin the sector of nancial and insurance activities (€869), followed by the sector of electricity, gas steamand air conditioning activities (€ 807), information andcommunication (€ 709) and mining and quarrying (€673).

In the rst eleven months, the average salary inMontenegro amounted to €722 and was lower by 0.4%compared to the same period last year. The averagesalary, without taxes and contributions, amounted to

€476, which is 0.6% lower than in the same periodlast year. The average salary in November 2014 was

€723, while the average net salary was € 477. In theperiod from January to November 2014 comparedto the same period in 2013, the gross salaries werereduced by 0.3% and net by 0.4%.

Foreign Direct Investments (FDI)

The highest FDI in ow was reached in 2009 andamounted to € 1071 million. After 2009, FDI startedto decline, from € 1.066,5 million to € 323.9 millionin 2013, due to deterioration of macroeconomicenvironment, which resulted in lower GDP growthrate, trade and unemployment as well as due to manyother political factors related to the crisis in the Eurozone, scal misbalance and changes in governmentsof biggest economies.

Foreign investors are coming from more than 107countries. There is no domination of any foreigninvestor while major investors (based on the valueinvested) are coming from Luxemburg, Azerbaijan,Russia, Austria, Norway, Slovenia, Hungary, Turkey

etc.Financial Sector

The reform of nancial sector in Montenegro startedwith the introduction of the Deutsche mark, as legaltended at the end of 1999. Two years later, on March2001, the Central Bank of Montenegro was established.On January 1, 2002, the EURO was introduces rst asa dual currency and from the end of March 2002, as theonly legal tender in Montenegro. The advantages of astable currency were recognized by many investors,as transaction costs associated with the internationaltrade were reduced and political risks were low aftereuro adoption. However, the unilateral adoption ofthe euro also implies that Montenegro is not able


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to improve or adjust its economic competitivenessthrough currency devaluation.

Banking Sector

The banking sector of Montenegro is fully privatizedand it consisted of 121 banks. The following bankscurrently operate in Montenegro: MontenegrinCommercial Bank, Hipotekarna Bank, SocieteGenerale Montenegro, Universal Capital Bank,Invest Bank Montenegro, Prva Banka Crne Gore,Erste Bank, Atlasmont Bank, NLB Montenegro Bank,Commercial Bank Budva and Hypo-Alpe-Adria Bank,Lovcen Bank. It is expected that Turkish Ziraat bankstart the operations in Montenegro in 2015.

Banking sector in Montenegro is characterized by highlevel of interest rates. In particular, In September 2013,banks’ weighted effective lending nominal interest rate(WALNIR) on total loans granted amounted to 9.31%,while in the same period the weighted average depositeffective interest rate (WADEIR) on total deposits was

2.73%Capital market

The only one and sole stock exchange in Montenegrobegan to operate in January 2011 after a technicalmerger with the NEX Stock Exchange and theMontenegro stock exchange at the end of December2010. Following this event, the NEX Stock Exchangeceased to exist as a legal entity. The merging of thesetwo stock exchanges will enable increased levels ofliquidity and ef ciency in the capital markets, andforeign investors are expected to positively react onthis news. At the end of 2013, Istanbul Stock Exchangepurchased 24.38% of Montenegro Stock Exchange4.

Three types of securities are traded: shares ofcompanies, shares of investment funds and bonds(old currency savings bonds, Pension fund bonds andbonds from restitution). The most tradeable shares inthe period January 1 st 2014–June30 th 2014 are listedin the table below.

Company Turnover(EUR)Number o ftransactions

HG BudvanskaRiviera (BUDR) 4.306.237 155Crnogorski TelekomAD 2.156.440 362

CrnogorskiElektroprenosniSistem (PREN)

1.150.374 281

Jugopetrol AD 740.924 155TPC Raznatovic AD 568.998 6

Investments promotio n

Over the past few years, Montenegro has beenrecognized as one of the countries, in the region, in thispart of the world, with the lowest taxation. Montenegrointroduced a at tax system providing investors theopportunity to invest in an attractive investmentdestination and providing domestic companies

to further grow and develop their business. Thatsystem provided Montenegro with good international4 www.montenegroberza.com

recognition and a favourable investment climateresulting in the highest FDI per capita in South EastEurope.

In order to ensure appropriate investment promotion,the Montenegrin Investment Promotion Agency (MIPA)has been established in March 2005. MIPA’s activitiesinclude: developing concrete investment strategiesfor individual countries and sectors: creating an imageof Montenegro as a favourable location for investing;providing professional services to foreign investorsetc.

The establishment of MIPA is in line with the bestpractice policies regarding FDI as one of the pillars ofeconomic growth. Organized promotion of the countryas an investment location is expected to help attractmore foreign investments to Montenegro and to help inthe transition to a market economy. This is especiallyimportant for the Green eld investments since theprivatization process in Montenegro is coming to theend and new channels of FDI need to be created.

The largest infrastructure proj ects

The Ministry of Transport and Maritime Affairs ofMontenegro announced a prequali cation tenderfor prospective bidders for the execution andimplementation of a Public-Private Partnership (PPP)contract involving the design, nancing, construction,operation and maintenance of a new motorwayrunning from Bar to Boljare. It will be 164 km long withan estimated cost of around 2 billion euros. The ruggedmountainous terrain is an engineering challenge,with 50 tunnels and 95 bridges and viaducts plannedalong the section Bar - Boljare motorway has a clearstrategic role to play in the regional core network. Itwill link the capital of a country and a major touristdestination with other regional capitals and economiccentres, providing the infrastructure for fast, safe andreliable travel. On 30th October, 2014, the Governmentof Montenegro and Chinese Exim bank signed thecontract on nancing construction of motorway, andthe start of construction now depends on legislativeprocedure.

Adriatic Ionian Motorway or the Blue Corridor is afuture motorway that will stretch along the entireeastern shore of Adriatic and Ionian Sea, connectingthe western coast of the Balkan Peninsula. The totallength of the Adriatic Ionian Motorway will be about95 km long. This motorway, as stated by the Ministry

of Transport and Maritime Affairs, will be the shortestroute connecting Western Europe with the South, andwill connect Montenegro with Albania, Bosnia andHerzegovina and Croatia.

Privatization and investment

The Council for Privatization and Capital projects,on its last session determined and adopted thePrivatization Plan for 2015The Privatization Plan will be implemented throughsale of shares and assets by public tender andthrough public private partnership models for onepart of companies. Through the sale of shares andassets by public tender, the following companies willbe privatized


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Institute „dr Simo Milošević“ JSC – Igalo“Novi duvanski kombinat“(New Tobacco Plant) JSC -Podgorica,„Poliex“JSC, Berane,Montenegro Defence Industry“ LTD - PodgoricaHotel „Park“, Bijela, municipality Herceg Novi.LTD „Montecargo“ Podgorica,„Montenegro airlines“ LTD Podgorica,HG „Budvanska rivijera“ LTD Budva,HTC „Ulcinjska rivijera“ LTD Ulcinj„Institute for ferrous metallurgy“ LTD Nikšić“Montepranzo - bokaprodukt” LTD - Tivat

The projects to be implemented through public-privatepartnership model are the following:1. Island “Lastavica” with fortress “Mamula“,2. “Mediteran” - Žabljak,3. “Donja Arza” – Herceg Novi,4. Tourist complex Ecolodge - Vranjina,5. Tourism valorisation of the location Kolašin 1600,6. Velika plaža/The Great Beach/ – tourism valorisationthrough development, construction, nancing andmanagement of exclusive tourism complex and long-term lease of the land at Velika plaža7. Tourism valorisation of the location Ada Bojanathrough development, construction, nancing andmanagement of exclusive tourism complex and long-term lease of the Ada Island8. Location between Njivice and mouth of Sutorina,Herceg Novi9. HTP „Ulcinjska rivijera“ AD Ulcinj - Camp Neptun,Ulcinj10. Military-Tourism Complex “Bigovo“-Trašte, Kotor11. Location under the State Study for the Location„Sector 16“in Kotoru, envisaged for nautical-tourismcomplex ( NTC Marina Kotor)

12. Masline Valley - „Utjeha“ for Bay Odrač in Bar13. Military-Tourism Complex „Valdanos“, Ulcinj14. Military-Tourism Complex „Ostrvo cvijeća“/TheIsland of Flowers/ and land of Prevlaka15. Barracks „Gornji Klinci“ - Herceg Novi16. Dobra luka, Herceg Novi17. Warehouse „Morinj“- Kotor18. Warehouse „Dobre vode“ – Bar19. Warehouse „Kopita“ Kolašin20. Warehouse „Rakite“- Herceg Novi21. Motel Šas with Vladimir Cooperate – Ulcinj22. Ski Resort „Savin kuk“, Žabljak Municipality23. Location “Buljarica” Bar and Budva municipalities24. Location “Gornji Ibar” Rožaje

25. Location “Kabala for” Herceg Novi Municipality26. Tourism valorization of locations included in theSpecial Purpose Spatial Plan “Bjelasica and Komovi“

– Cmiljača27. Construction of Golf Complex in Tivat(MONTEPRANZO)28. Pošta Crne Gore AD – Podgorica /Post Of ce/

Open tenders

Tender for Long-term Lease of Land for theConstruction of “Eco-Lodge” Tourism Resort inVranjina extended

The Government of Montenegro invited theinternational public tender for long-term lease of land

for the construction of ‘Eco-Lodge’ tourism resortin Vranjina, Montenegro. The location is part of anattractive zone in the Skadar Lake National Park,within the coverage of the Special Purpose SpatialPlan for Skadar Lake National Plan and the LocationStudy for Vranjina and Lesendro. The lease is forthe period of 31 to 90 years (with the possibility ofextension).

Tender for L ong-term L ease of the Military Touri stResort “Mediteran”, Žabljak extendedThe Government of Montenegro publicly announcedthe tender for the military tourist resort ‘Mediteran’ inŽabljak. The Site is at an altitude of 1,456 m above sealevel in the most attractive zone of the National Park‘Durmitor’. The tourist resort ‘Mediteran’ is located inthe settlement Otoka, in the direct vicinity of the roadthat leads from Žabljak to the Black Lake, which hasso far been used as a military resort.


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Investment and Development Fund ofMontenegro JSC

Investment and Development Fund of Montenegro(IDF MN) was founded on December 31 2009.The Government of Montenegro has, by establishingInvestment and Development Fund, provided foran ef cient mechanism for supporting economicdevelopment through granting loans and extendingguarantees, through operations pertaining toselling capital in Fund’s portfolio and other activitiessupporting economic development.

MAIN OBJECTIVE:Economic Development of Montenegro

PRIORITY AREAS

• Growth and development of micro, smalland middle companies

o Supporting start ups

o Enabling entrepreneurs to launchnew investment cycle

o Strengthening entrepreneurshipcapacities

o Improving company liquidity

• Encouraging balanced regional develop-ment

• Encouraging development of priority sectors(tourism, agriculture, wood processing, pro-duction, services)

• Promoting competitiveness of local compa-nies

• Supporting new work capacities

• Supporting new products and technologiesdevelopment

• Encouraging export

• Financing environmental production andinfrastructure projects

MISSION

Our mission of a development institution issupporting development of new values establishedon the grounds of knowledge, cultural heritage andnatural resources with the goal of encouraging asystemic, sustainable and balanced economic andsocial development on accordance with generalstrategic goals of Montenegro.

VISION

Investment and Development Fund as a successmeasure for development institutions effectivelyand ef ciently rendering services to bene ciariesand supporting sustainable development of thecommunity.

OUR VALUES

Customer Orientation – We are investing effortsin providing as prompt and as effective responseto clients’ need as possible. We aim our efforts inbecoming an institution approaching its clients, notan institution being approached by its clients.

Accountabil ity and Professionali sm i n DoingBusiness – By an accountable and professionalattitude towards our tasks, capital, users andprojects, we are enabling long-term success inattaining our main goal.Reliability in Business Relations – Our capacitiesare fully dedicated to ensuring our users wewill support all eligible projects in a persistent,con dential and systematic way.Business Ethics – We underline the importanceof exercising moral principles in everyday life andbusiness; this is why we continuously supportemployee ethics in order to attain established goals.

Knowledge as a Conditio Sine Quo of theOverall Development – is our priority. This is whywe establish conditions for our employees andwe encourage them to continuously develop theirknowledge. But on the ip side, we expect the sameform our users and partners.Corporate Social Responsibility – is ourdedication to contribute to a sustainable economicdevelopment through cooperation with companies,

local community and society as a whole with thepurpose of improving overall life standard quality. Forus, success measure is not pro t, but a long-termstability of the community we will achieve throughimplementation of projects we support.

Offer of IDF includes the following credit lines :

• Program of support to young people inbusiness,

• Program of support to beginners in business – company start up,

•

Program of support to women in business,


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• Program of support to women in business -UNDP

• Program of support to tourism andhospitality (Program of Support tothe Building of New Hotel Capacities,Program of Support to the Upgrade ofExisting Apartment and Hotel Capacities,Program of Support to Improvement ofTourist Infrastructure and ComplementaryTourist Services, Program of Support toHospitality),

• Program of support to companies within themanufacturing sector,

• Program of support to companies within theservice sector,

• Program of support to wood processingindustry,

• Program of support to agriculture and foodproduction,

• IPARD 2015,• Program of support to clusters,• Program support the development of

entrepreneurship;• Program for re nancing of outstanding

liabilities,• Program for nancing of permanent working

capital,• Financing of infrastructure and water supply

projects,• Financing of projects related to renewable

energy sources,• Program of support to preparation of tourist

and agricultural season,•

Factoring nancing.


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AGRICULTURE

IT ANDTELECOMUNICATIONS

TRADE

TRANSPORTATIONCATERINGAND TOURISMPRODUCTIONAND INDUSTRY

SERVICES

ENERGETICS


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Number of employees:Main activity:

Town:

Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:


Town:Address:Phone:Fax:Cell phone:E-mail:

Web site:Giro account:

AGROAUTOLimited Liability Company1999Branislav DogandzicBranis lav Dogandzic -Snezana Raicevic15Wholesale and retail-agricultural machinery andequipment, repair of agricultural machinesPodgorica

Bracana Bracanovica 78+382 20 625 665+382 20 625 665+382 69 309 [email protected]

AGROMONTLimited Liability Company2002Bozidar JokicBozidar JokicNumber of employees: 10Farming of poultry and egg productionNiksicStrasevina bb+382 40 253 164+382 40 253 164+382 68 868 280; 68 868 [email protected]/

520-9757-98


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S-leasing d.o.o. 81000 Podgorica, Bul. Sv. Petra Cetinjskog 123Tel.: +382 20 245 580 Mob: +382 69 057 775 Fax: +382 20 203 225

Mail: of [email protected] Web: www.s-leasing.co.me


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THINK WITH HEART FOR YOURHAPINESS. THINK UNIQA!

Companies:UNIQA life insuranceUNIQA non-life insurance

Legal type of the entity:Joint Stock insurance company

Year of establishment:

UNIQA life - 2008.UNIQA non-life - 2008.

Owners UNIQA life: UNIQA InternationalBeteiligungs-VerwaltungsGmbH UNIQA a.d.o. Beograd

Owners UNIQA non-life: UNIQA InternationalBeteiligungs- VerwaltungsGmbH UNIQA InternationalVersicherungs Holding GmbH

Executive directors: Mrs Nela Beleviæ, UNIQA non-life Mr Že ljko Laboviæ, UNIQA life

Number of employees: 157Number of branch offices: 14Main activity: Life and non-lifeinsurance

Accounts:UNIQA life insurance:555-1915-30UNIQA non-life insurance:555-738-69

Snaga povjerenja!

KOTOR

Plav

UNIQA Montenegro:Branch offices

Address: Ul. Svetlane Kane Radeviæ 3, 81000 Podgorica, MontenegroPhone: +382(0)20 444 700; Fax: +382(0)20 244 340; E-mail: [email protected];Internet: www.uniqa.me

UNIQA started its activities inMontenegro in February 2008 byover-taking Zepter Insurance. UNIQALife Insurance company started towork in February 2008, and UNIQANon-Life company in June 2008.During the second half of 2012,UNIQA assumed complete portfolioof Delta Generali Life Insurance.UNIQA Montenegro has 2 compa-nies, 14 sub-offices and support of157 employees.Reliability, high quality of service andinnovative programs are synonymsfor the previous five years of UNIQAbusiness activities on Montenegrinmarket.

Our mission is to offer solutions forour customers in the given continu-ously, changing economic and socialenvironment, so they could enjoy fulland safe life.

Preliminary results for 2013 show thattotal written premium of UNIQAMontenegro reached app Euro 12million, 26.5 percent more than in thelast year. By each company, in 2013,growth of UNIQA Montenegro isseen in: UNIQA Life insuranceachieved growth of 2.7 percent (app

Euro 1.6 million), and UNIQANon-life insurance achieved growthof 31.3 percent (app Euro 10 million).

In 2013, UNIQA Montenegro growthwas 17.8 percentage points abovethe market growth (Total marketgrowth 8.8 percent, UNIQA Monte-negro growth 26.5 percent).

Thanks to achieved results in 2013,UNIQA according to preliminaryresults, has reached second place onMontenegrin market, taking 16.3percent share in the MontenegrinInsurance Market (share in 2012 was14 percent). By each UNIQAcompany, UNIQA share in Lifesegment is 14.9 percent and 16.5percent in Non-life insurancesegment.

UNIQA will continue to base itsstrategy on work with citizens andS&M enterprises. As in previous five

years, education of citizens aboutinsurance in general, as well asdevelopment of the concept of socialresponsibility by supporting thedevelopment of sport, culture andeducation in Montenegro, will be oneof the priorities of UNIQA team in2014.

THINK WITH HEART FOR YOUR HAPINESS. THINK UNIQA!

UNIQA started its activities inMontenegro in February 2008 byover-taking Zepter Insurance.UNIQA Life Insurance companystarted to work in February 2008,and UNIQA Non-Life company inJune 2008.UNIQA Montenegro has 2companies, 13 sub-offices andsupport of over 135 employees.Both companies provide a widerange of high quality productsranging from insurance to propertyinsurance, accident insurance, carinsurance, health insurance, andvarious life insurance products.

Reliability, high quality of serviceand innovative programs aresynonyms for the previous eightyears of UNIQA business activities on

Montenegrin market.

Despite tough market conditionsand unstable micro andmacroeconomic situation,preliminary data for 2014 indicate apositive trend of development

of UNIQA insurance which rankedsecond market position of theinsurance market in Montenegro. Total gross written premium ofUNIQA in 2014 amounted to €11,725,524, which represents16,21% market share. UNIQA hasachieved overall growth of insurancepremiums in 2014 compared to2013 in nearly all areas including:life insurance 17.46%; collisioninsurance 13,97%; accident 50.91%;travel health insurance 8.13%; motorinsurance 4.01%; border insurance18,24%; health Insurance 43.36%.

By entering on the Montenegrinmarket, UNIQA is recognized as amodern company that listens to theneeds their customers and nd waysto create an innovative approach

services tailored to their needs.UNIQA will continue to develop inthe future, and to change - becausethis is only way to daily win the trustof citizens of Montenegro.

Companies:UNIQA life insuranceUNIQA non-life insurance

Legal type of the entity:Joint Stock insurance company

Year of establishment:UNIQA life - 2008.UNIQA non-life - 2008.

Owners UNIQA life:• UNIQA InternationalBeteiligungs – VerwaltungsGmbH• UNIQA životno osiguranje a.d.o.Beograd

Owners UNIQA non-life:• UNIQA InternationalBeteiligungs - VerwaltungsGmbH• UNIQA International AGExecutive directors:

• Mrs Nela Belević, UNIQA non-life• Mrs Mersiha Hot, UNIQA life

Number of employees: 135Number of branch offices: 13Main activity: Life and non-lifeinsurance

Accounts:UNIQA non-life insurance:555-1915-30UNIQA life insurance:555-738-69


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Tel: +382 20 406 550Fax: +382 20 406 559

Bulevar Svetog Petra Cetinjskog 147

81000 Podgorica, Montenegro

Best Western Premier Hotel MontenegroBul. Svetog Petra Cetinjskog 14581000 Podgorica, MontenegroTel. office/ +382 20 406 520Tel. reception/ +382 20 406 500Fax. +382 20 406 559E-mail: [email protected]

Apart Hotel PremierBul. Svetog Petra Cetinjskog bb81000 Podgorica, MontenegroTel. office/ +382 20 406 520Tel. reception/ +382 20 406 900Fax. +382 20 409 999E-mail: [email protected]

Član velike Best Western porodice, smještenu srcu poslovnog dijela Podgorica. Okruženministarstvima i institucijama. Bilo daboravite zbog posla ili razonode, našeprijatno i stručno osoblje će sa ponosompredvidjeti vaše potrebe i izaći im u susret.

The member of the big Best Western familyis situated in core of the business part ofPodgorica. It is surrounded by ministries,consulates and other internationalinstitutions. Whether you are here onbusiness or amusement, our pleasant and profesional personnel will anticipate andmeet your necessities with pleasure.

Dobordošli u novosagrađeni Apart Hotel “Premier”,savršeno mjesto za Vaš boravak, kotel, poslovnisastanak ili konferenciju koji se nalazi u neposrednojblizini Best Western premier Hotela Montenegro.U svojoj ponudi ima 48 luksuzno opremljenihapartmana, 3 konferencijske sale kapaciteta da primedo 150 osoba i salu za doručak na dva nivoa sa kose sepruža fantastičan pogled na grad Podgoricu.ŽELIMO VAM PRIJATAN BORAVAK

WELCOME to the new Apart Hotel “Premier”, a perfect place for your stay, cocktail party, business meeting orconference, which is situated in the immediate vicinty ofthe best Western Premier Hotel Montenegro. Apart Hotel “Premier” offers 48 luxurious and well-furnished apartments, 3 conference halls with thecapacity of 120 seats and breakfast hall in two levels,which provides an excellent view of the city and its surroundings.WE WISH YOU A PLEASANT STAY!


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Number of employees:Main activity:Town:Address:

Phone:Fax:Cell phone:E-mail:Web site:Giro account:

GALLILEOLimited Liability Company2002Srdjan KovacevicSrdjan Kovacevic6Travel AgencyPodgoricaDzordza Vasingtona 3/7

+382 20 229 590+382 20 229 592+382 68 029 178; 69 029 [email protected]

RIVIERA MANAGEMENT AND DEVELOPMENT RESORT d.o.o. • Club Hotel Riviera • Njivice • p.fah85347 Igalo, Herceg Novi, Montenegro • Tel: +382 (0) 31 356 000 • +382 (0) 31 356 001 • Fax +382 (0)31

673 013 E-mail: [email protected] • Web: www.rivierahotelhn.com


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Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

VODA U KRSULimited Liability Company2005Petar StojanovicPetar Stojanovic, Milos Stojanovic48Restaurant, catering and tour ism. Voda ukrsu has very long tradition since 1963 whenit opened its rst restaurant in Sotonici, and

started as entrepreneur. In 2005 become limitedliability company and today has six its own facilitiesBar, PodgoricaVladike Danila 24, Podgorica+382 20 244 129+382 20 244 129+382 67 671 149, 67 612 055of [email protected] & 510-8291-96


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Bojatours hotel is garni hotelrated with 3 stars. Hotel isplaced in center of Podgorica, thecapital of Montenegro. Bojatoursde nitely has the best position because it’s situated few stepsfrom center of Podgorica. It’s veryclose to Montenegrin theater,museum, government, parliamentand other important places.

Bojatours hotel disposes of20 rooms, where 11 are withmatrimonial bed, 6 double- bedded, 2 single and one luxappartment.

A ll rooms are coveredwith central heating, air-conditioner, TV, satellite antenna,telephone, mini bar and free WI-FIaccess 24 hours. Within the Hotel,there is tness center free for hotelguests.Hotel has its restaurant, whereis served breakfast bu et. Thereis also Rent a car agency andpossibility of guests transferon the relation airport – hotel –airport.

Ul.Kralja Nikole br.10

Tel: +382 20 623 349 +382 20 621 240Mob: + 382 69 023 349Fax: +382 20 621 223

e-mail: [email protected]

* Breakfast, taxes,insurance and wireless connectionare included in this prices.


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Company:Legal type of the entity:Year of establishing:Managing Director Executive Director Number of employeesMain activity:Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

KLIKO COMPANYLimited Liability Company1994Predrag KlikovacPredrag Klikovac13Catering and tour ismUlcinjBulevar Teuta bb+382 30 425 051+382 30 425 051+382 69 031 [email protected]; 530-13001-70


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3. Jula b.b. ,85310 Budva , Crna Gora

Vuka Karadzica 1, Stari Grad, 85310 Budva, Crna Gora


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MANEXLimited Liability Company1991Vojin ManojlovicVojin Manojlovic15Production of baked goodsBudvaDositejeva S 57

+382 33 402 800+382 33 402 800+382 69 020 [email protected]/525-589-23

RIVIERA MANAGEMENT AND DEVELOPMENT RESORT d.o.o. • Club Hotel Riviera • Njivice • p.fah85347 Igalo, Herceg Novi, Montenegro • Tel: +382 (0) 31 356 000 • +382 (0) 31 356 001 • Fax +382 (0)31

673 013 E-mail: [email protected] • Web: www.rivierahotelhn.com


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Company:Legal type of the entity:Year of establishing:Managing Director Executive Director Number of employeesMain activity:Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

ČikomLimited Liability Company1993Vladan TabašNenad Vraneš48IT engineering and consultingPodgoricaDalmatinska 78+ 382 20 21 81 81+ 382 20 21 81 82+ 382 67 211 [email protected]

Kompanija za informatički inženjering i konsalting ČIKOM iz Podgoriceosnovana je 1993. godine. Danas je Čikom jedna od vodećih informatičkihKompanija u Crnoj Gori koja je od klasičnog isporučioca računarske opremeevoluirala u integratora i implementatora najsloženijih informatičkih rješenja,osposobljena da svojim Korisnicima pruži najširi spektar usluga i roba u oblastiinformacionih i komunikacionih tehnologija. Čikom je danas prepoznatljiv poserti kovanom kadru osposobljenom za realizaciju visokoso sticiranih mrežnih ikomunikacionih sistema, po pouzdanim i savremenim softverskim rješenjima, porazgranatoj prodajnoj i servisnoj mreži i što je najvažnije po hiljadama zadovoljnih

korisnika.


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Company: Servisni centar za elektronsko poslovanje e-mon; Legal type of the entity: Limited LiabilityCompany; Year of establishing: 2004; Owner(s): ASSECO SEE Beograd i Hemera Technologies Podgorica; Director-contact person: Aleksandra Colakovic Vukotic; Number of employees: 7; Main activity: Telecommunication; Town: Podgorica; Address: Bulevar Svetog Petra Cetinjskog 3; Phone: +382 20 408 888; Fax: +382 20 241 310; Cell phone: +382 67 208 883; E-mail: [email protected]


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ZZILimited Liability Company2001ZZI d.o.o. LjubljanaJelena Milojkovic4Production of the complete information systems mainly for theCustoms, the state administration and some larger companies;Development of the applications related to the Customsprocedures and for other authorities; Offering the services in

the field of the electronic data interchange; Consulting;PodgoricaMoskovska 77+382 20 229 560+382 20 229 561+382 67 233 [email protected]


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Vaša Internet prodavnicaEkupi CG dooLimited Liability Company: Ekupi CGdoo company of trade and servicesPodgorica2011Ekupi doo company- ZagrebViktor Curović +382 67 283 672 3web storesPodgoricaCemovsko Polje bb, 81000 Podgorica,+382 20 608 291+382 67 [email protected] Societe Generale Montenegro

Company:Legal type of the entity:

Year of establishing:Owner(s):Director-contact person:Number of employees:Main activity:Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

Montenegro


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Serdara Jola Piletića bbPodgorica, Crna Gora Tel: +382 20 22 77 66Fax: +382 20 22 77 56www.siing.com


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Generalni zastupnik za Crnu Goru

Distributivni centri:Tivat

tel: +382 68 031 699Skladište Optimus

Podgoricatel: +382 68 026 699

Mareza bb

Bijelo Poljetel: +382 68 027 699

Skladište Vunko


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Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Account No:

CIJEVNA KOMERCLimited Liability Company1991Danilo PetrovicDanilo Petrovic , Ljubinka Gogic200Building and selling appartments and bussinesspaces, construction-crafting services,manufacturing and selling nished concrete andcement concrete ducts, selling all granulationgravel and sand, transporting servicesPodgoricaCrnogorskih serdara b.b.+382 20 622 216+382 20 621 313/of [email protected]


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Tel: +382 20 444 400email: [email protected]

www.celebic.com


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Buil’d

CompanyLegal type of the entityYear of establishingOwnerDirector-contact personNumber of employesMain activityTownAddressPhoneFaxCell phoneE-mailWeb siteGiro account

‘’ BUIL’D’’ D.O.O. BUDVALimited Liability Company2011Davidyuk AnatolyDavidyuk Anatoly2investing and sales of luxury facilitiesBudvaRozino b.b.+382 33 465 813+382 33 465 812/ [email protected]+382 69 040 173530 – 19703- 74


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Number of employees:Main activity:Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

ENERGOGASLimited Liability Company2002ShareholdersZoran Gogic55Distribution and trade of liquid gasPodgoricaDajbabe b.b.+382 20 644 333; 644 334; 644 335; 067 714 375+382 20 644 333; 644 334; 644 335+382 67 273 [email protected] www.energogas.net510-192-46; 505-92530-95


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MIVIKO


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IDEJA PROJEKAT REALIZACIJA

Company: Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Number of employees:Main activity:Town:Address:Fax:Cell phone:

E-mail:Web site:Giro account:

ObjektaLimited Liability Company2002Radojica KrstovicSandra Krstovic30Custom made furnitureTivatMarici b.b.+382 32 331 519+382 67 600 603 (salon Radanovici)+382 67 224 801; +382 67 847 [email protected]; [email protected]; 505-7110000001007-09 I


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Main activity:Town:Address:Phone:Cell phone:E-mail:Web site: /Giro account:

UL – InvestmentUL – InvestmentLimited Liability Company2009Ibrahim MillaRamus NuhicBuilding material trade, designing and developingUlcinjUl. Djuro Djakonovica b.b.+ 382 30 401 032 +382 67 319 [email protected]/530 – 16294 – 19


Town:

Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

MILLA-IMPEXLimited Liability Company1993Ibrahim MillaIbrahim Milla28Building material, apartment sale, wholesale andretail manufacturingUlcinj

Kodre b.b.+382 30 401 032+382 30 411 929+382 67 319 [email protected]; 555-202-28; 510-5815-55


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40


BordidLimited Liability Company1994Dusan Boricic, Dragan BoricicDusan Boricic12Production of rennet, tradePodgoricaDanilovgradska 9+382 20 270 672+382 20 270 748+382 67 522 [email protected]

PodgoricaBORDID


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PVC Sandwich panela 3000x2000x20/24mm,

krovnih i zidnih termopanela,rolo mreže prozorske i za vrata

Proizvodnja PVC Sandwich panela 3000x2000x20/24mm


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Green Bazar and Mall ofMontenegro is one of the

most signicant projectsand investments of Gintasgroup in the Balkans. Itwas realized in partnershipwith the municipality ofPodgorica when a contractwas signed in 2006 to realizethe project as the rst Public-Private Partnership Investmentin Podgorica, which is thecapital of one Europe’s youngestindependent states.

Mall, one of the largest retaildevelopments in the country,

comprises two different aspectsof shopping: Green Bazaar and amodern shopping mall. Its centrallocation, unique bland of traditionaland modern shopping concepts andself contained environment, offeringa wide range of goods and services,inevitably made Mall a shopping andentertainment destination for the wholefamily. It hosts many international brandsas well as many popular local brands, manycafes and restaurant also. There is indoorparking available for up to 420 cars.

Tel: +382 20 620 811Fax: +382 20 624 590

www.mallofmontenegro.com


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:Main activity:

Town:Address:


MILINALimited Liability Company2008Ranko MIlicRanko MilicRecycling polyethylene and production of hoses,allkinds bags and nailon to 4 m widePodgoricaPavla Mijovica 3, Donja Gorica

+382 20 261 900+382 20 260 320+382 69 040 [email protected]/560-200-03


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INVESTNGCompany:Legal type of entity:Year of establishing:Owner(s): VeselinDirector-contact person:Number of employees:Main activity:

Town:Address:Phone:Fax:Cell phone:e-mail:web site:Giro account:

ING-INVESTLimited Liability Company1977Veselin Radulović Ilija Radulović 35 + 5 internsEngineering activities and

related technical consultancyDanilovgradVelizara Škeroviaća 1, 81410 Danilovgrad 020/665-703020/665-703067 589 [email protected]; [email protected]


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Company:Legal type of the entity:Year of establishing:Owner:Director-contact person:Number of employees:Main activity:Town:Address:Phone:Fax:Cell phone:E-mail:Web site:Giro account:

Company:Legal type of the entity:Year of establishing:Owner:Director-contact person:Number of employees:Main activity:Town:Address:Phone:Fax:Cell phone:E-mail:

Web site:Giro account:

Montenegro Defence IndustryLimited Liability Company1997Foreign private companiesZoran Damjanovic, dipl.ing.15Wholesale and retail tradePodgoricaMiljana Vukova bb+382 20 231 921, 231 922+382 20 231 923+382 69 016 [email protected]

Normal CompanyLimited Liability Company1992Žarko BurićNemanja Nikolić 42constructionPodgoricaBulevar Svetog Petra Cetinjskog 130+382 20 219 341+382 20 219 342+382 67 242 [email protected]

www.normalcompany.me510-2860-93 CKB


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FABRIKA KURTILimited Liability Company1995Kabil KurtiKabil kurti50Production of furnitureUlcinjTotosi b.b

+382 30 412 891+382 30 411 881+382 69 520 [email protected]


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MARŠALATITA54,85000BAR,CRNAGORA TEL/FAX+38230 317170,317411,[email protected]

ZA PRAVE MAJSTORE!

ZA PRAVE MAJSTORE!

MARŠALATITA54,85000BAR,CRNAGORA TEL/FAX+38230317170,317411,[email protected]

Kompanija Nimont d.o.o. je u 2012. godini otpočela sa proizvodnjom iprodajom praškastih materijala za završne građevinske radove.

SANDENIT MN-100 Mašinski malter za unutrašnje mašinsko i ručno malterisanje

SANDENIT KS-200 Ljepilo za keramiku standard za unutrašnje postavljanje keramike

SANDENIT KF-210 Ljepilo za keramiku eksibilno za spoljašnje postavljanje keramike

SANDENIT SW-300 Ljepilo WDWS za lijepljenje termoizolacionih ploča od polistirena

SANDENIT SE-310 Ljepilo za gletovanje termoizolacionih ploča od polistirena i utapanje mrežice

SANDENIT EN-1000 Cementni eštrih za izradu cementne glazure, sa vlaknima

Svi SANDENIT pro izvodi se mogu kupiti širom Crne Gore u najboljesnabdjevenim stovarištima građevinskog materijala.


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Obala 13. jula bb,


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OPENING THE MONTENEGRIN MARKET TO YOUR BUSSINES

CEED Consulting, a renowned Montenegrin consultancy, integrates its business developmentand project management services, providing solutions for setting up and growing your businessactivities in Montenegro. Focusing on customer care, our team emphasizes quality of service,which we are continually striving to improve. Loyalty and dedication transpire through ourunique and professional approach to advising our clients. Implementing international standardsof business practice, CEED Consulting relies on its expert knowledge of the local market toprovide tailored solutions based on accurate and timely information. We encourage creativity,believe in mutual respect and advocate team work. CEED Consulting, together with itsextensive network of partners, guides local and foreign clients towards lucrative and strategicbusiness goals.

Feel free to call, write, or e-mail us at:

CEED Consulting LTDKralja Nikole 27a/4 floor,Business Center „Celebic" 81000 Podgorica, Montenegro Tel/fax: +382 (0)20 620 611, 633 855info@ceed - consulting.com

Visit our web-site

Step 1: We canprovide

information ondoing business in

Montenegro

Desk Research Legal and TaxFramework

Step 2: We canmaximize the

potential of yourbusiness visit to

Montenegro

LogisticalSupport Trade Missions IndividualCompany Visits

Step 3: We canhelp you start

your business inMontenegro

Setting Up aCompany

BusinessMatchmaking Market Research

Step 4: We canhelp you grow

your business inMontenegro

BusinessDatabase Consultancy

http://www.ceed-consulting.com


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Business Café predstavlja druženje malih preduzetnika i onih koji to uskoro planirajupostati sa ciljem razmjene informacija, dijeljenja preduzetničkih iskustava iohrabrivanja na pokretanje sopstvenog pos la.

Business Café je regionalni projekat koji se sa uspjehom realizuje u, za sada, petzemlja: Hrvatska, Srbija, BiH, Makedonija i Velika Britanija (London). Uskoro širenjei u drugim zemljama.

Mnogi su se poslovi već sklopili na Business Cafe-u, i rodila su se i neka prijateljstva.Dođite i budite dio uspješnih!

Pratite nas na:www.businesscafe.mewww.iper.org.me

Tel/Fax: +382 20 622 931

Kralja Nikole 27a/4, Biznis Centar „Čelebić“ 81000 Podgorica, Crna Gora


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Posjetite nas u novom showroomu gdje nastaju nove ideje...

Events brandingBrendiranje događaja

istraživanje - koncept - dizajn - štampa - produkcija

42.418370, 19.242320Janka Djonovica 31/1 +382 20 228 [email protected]


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VRŠIMO SVULOGISTIKU:- Transport- Skladištenje robe

AUTOBOJA D.O.O

Ul . Kralja Nikole br.10Podgorica – Crna GoraTel: +382 20 623 349 +382 20 621 240Mob: +382 69 023 349Fax: +382 20 621 223e-mail: [email protected]

INTERNATIONAL TRANSPORT


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Company:Legal type of the entity:Year of establishing:Owner(s):Director-contact person:

Number of employees:Main activity:Town:Address:Cell phone:

ERC SYSTEM Auditing Company – Limited Liabil ity Company2008Spaic KrstoKRSTO SPAIC – Director SVETLANA NIKITOVIC – Contact person2

Auditing of nal statementsHerceg NoviPrizrenska 19, Igalo+382 69 042 117

BENCOMLimited Liability Company1994Spaic Persida, Spaic Mina, Spaic ZoricaMiseljic Stevo36Provision of accounting services, nancial services,legal services, management services, consultingservices and services of designing accountinginformation systems

Herceg Novi, Podgorica,Tivat, Budva, BijelaPrizrenska 19, Igalo+382 31 331 860; 331 950+382 31 331 860+382 67 317 664; 69 278 575; 67 505 577; 67 316 00469 394 [email protected];of [email protected]; 505-89406-58; 510-414-59; 535-9506-79530-21211-12


Town:Address:Phone:Fax:Cell phone:

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Town:Address:Phone:Fax:Cell phone:E-mail:Web site:

Giro account:

KOPRIVICALimited Liability Company1995Bosko KoprivicaBosko Koprivica24Services-loading, unloading, transportation ofgoodsPodgoricaJanka Djonovica 50+382 20 640 420+382 20 640 006+382 69 020 436; 67 231 [email protected]

510-2765-87

Company:

Legal type of the entity:Year of establishing:Owner(s):Director-contact person:

Number of employees:Main activity:


KONTOMEN - Company for nancial, business andtechnical servicesLimited Liability Company1991Radomir CabarkapaRadomir Cabarkapa - director 069 033 953Kukurić Ana - contact person 069 313 296 4

Accounting, controls, etc

Podgorica ( lijale Bijelo Polje i Bar)Slavonska br. 5 Zagorič, Podgorica+382 20 270 930; 270 931+382 20 270 930+382 69 313 [email protected]; [email protected]


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INEKRETNINELimited Liability Company1999Snezana VukmirovicSvetlana Brajovic4Company for real estate trade and servicesPodgoricaRimski trg 44+382 20 235 651; 235 641+382 20 235 631+382 69 024 904; +382 69 611 [email protected]

“PROVJERITE ZAŠTO SMO IN”

Company:Legal type of the entity:Year of establishing:Owner:

Director-concant person:Number of employees:Main activity:Town:Address:Phone:Fax:Cell Phone:E-mail:Web site:

Giro account:

TNT Express - Tim KopLimited Libability Company2000Stojanov Asen

Cirovic Miodrag11Express delivery consignmentPodgoricaCijevna bb+382 20 606 450+382 20 606 453+382 67 22 00 [email protected]

525-300-17

[email protected]

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INTERLOGLimited Liability Company1999Erich CossuttaNela Vitic12Maritime and inland transportBar Obala 13 jula bb

+382 30 313 932; 317 238; 302 848; 302 849+382 30 311 031+382 69 084 [email protected]

Company:Legal type of the e

Mba Business Directory 2015

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