Investment Climate Statement

A.1. Openness to Foreign Investment

Recent political events:

The referendum on Montenegrin independence was held on May 21 , 2006, and 55.5 percent of Montenegro's voters chose independence from Serbia. Montenegrin independence has led to further opening of the market and an increase in investor awareness and confidence.

Montenegro's Constitution was ratified and adopted by the Parliament of Montenegro on October 19, 2007.

Montenegro and the EU signed a Stabilization and Association Agreement (SAA) on October 15, 2007, boosting Montenegrin hopes of becoming a full EU member. Montenegro and the EU also signed the so-called Interim Agreement (allowing for the early implementation of trade and trade-related provisions of the SAA) which took effect on January 1, 2008. Almost all EU member states have already ratified the SAA.

Montenegro's Application for EU Membership was submitted on December 15, 2008.

NATO invited Montenegro to participate in its Membership Action Plan (MAP) on December 4, 2009.

The EU Council of Ministers' decision in favor of visa-free travel to Schengen-zone countries for citizens of Montenegro came into effect on December 19, 2009.

Montenegro's answers to the European Commission's "Avis" Questionnaire were presented on December 9, 2009, and the Government of Montenegro is expecting the country to be granted EU candidate country status in 2010.

Foreign investments:

Montenegro is establishing a liberal investment regime. Although the continuing transition has not yet eliminated all structural barriers, the Government recognizes the need to remove impediments, reform the business environment, and open the economy to foreign participation.The attitude towards foreign investors is generally favorable.

Since becoming independent in 2006, the government has adopted a liberal investment framework to encourage growth, employment and exports. There are no distinctions made between domestic and foreign companies. Foreign companies can own 100 percent of a domestic company, and profits and dividends can be repatriated without limitation or restrictions.

Foreign investors can participate in the privatization process and can own land in Montenegro. Expropriation of property can only occur for a "compelling public purpose," and compensation must be made at fair market value. There has been no known expropriation of foreign property. International arbitration is allowed in commercial disputes involving foreign investors.

Registration procedures have been simplified to such an extent that it takes just one euro and four days to process an application to register a business. Bankruptcy laws have been streamlined to make it easier to liquidate a company, accounting standards have been brought up to international norms, and custom regulations have been simplified. There are no mandated performance requirements.

Montenegro has already attracted considerable interest from foreign investors. According to preliminary data, the amount of foreign investments for the first nine months of 2009 increased 6 percent over the entire twelve months of 2008, in spite of the global financial crisis.According to preliminary data from the Montenegrin Investment Promotion Agency, foreign direct investments from January through October 2009 reached $1.067 billion (€726 million), and their projection for the entire year is for total FDI figures somewhere between 950 million and 1 billion Euros, an increase of approximately 40 percent over the 2008 total.

Over 4,700 foreign-owned firms are registered and operating in Montenegro; the number of registered foreign companies has doubled in past two years. Foreign investors come from 86 countries, with no single country dominating investment. So far, the most significant investments have come from Norway, Austria, Russia, Hungary and Great Britain. For the first time since 2006, the greatest amount of FDI - 65.1 percent - has been concentrated in the central region of Montenegro this year, with 28.4 percent directed to the southern region and the remaining 6.5 percent to the north. Based on job-creating foreign investments (ie not including individual real estate transactions), the sectoral breakdown of FDI for 2008 is as follows: 28 percent of all investments were made in finance; 22 percent in tourism; 14 percent in construction; 11 percent in services; 10 percent in industry; 5 percent in transportation and logistics; 2 percent in agriculture; and the remaining 8 percent in other sectors.

According to the World Bank Group's "Doing Business 2010" report (covering the period June 2008 through May 2009), Montenegro received its best rating of the six years it has been reviewed.Montenegro ranked 71st best of the 183 countries surveyed on the following categories: Starting a Business; Dealing with Construction Permits; Employing Workers; Registering Property; Getting Credit; Protecting Investors; Paying Taxes; Trading across Borders; Enforcing Contracts; and Closing a Business. Montenegro's best score (27th place worldwide) was for Protecting Investors; its worst (160th place) was for Dealing with Construction Permits. The biggest gain from last year was on Employing Workers (up 47 places, from 93 to 46); the biggest drop was a tie - drops of six places on both Registering Property (falling from 125 to 131) and Paying Taxes (down from 139 to 145.)

The World Economic Forum's Global Competitiveness Report 2009 - 2010, covering 133 countries, placed Montenegro 62nd overall - three positions higher than in 2008. Compared to other countries in the region, Montenegro ranked above Croatia (72nd place), Macedonia (84th), Serbia (93rd), Albania (96th) and Bosnia and Herzegovina (109th). Of the 12 factors used to compile the rankings, Montenegro got the highest marks in health, primary education, and financial market sophistication. Its lowest marks were in inefficient government bureaucracy, inadequate supply of infrastructure, business access to finance, inadequately educated workforce, corruption, restrictive labor regulation, and tax regulation.

Montenegro scored 3.9 in Transparency International's Corruption Perceptions Index 2009, placing it second in the region (behind Croatia.) 2009 results showed a significant improvement over the previous year's score of 3.4 and world ranking of 85. In the Heritage Foundation's 2010 Index of Economic Freedom, Montenegro received a score of 63.6, ranking it as "moderately free" and above the world average. Its score was an improvement of 5.4 points over 2008, reflecting notable improvements in seven of the 10 economic freedoms considered. Survey editors noted that sharply improved labor market flexibility and an improved regulatory environment for investment enabled Montenegro to score the largest increase in economic freedom among all countries in the 2010 Index. 

Major Investment Opportunities:

Montenegro offers a wide range of investment opportunities. Some are unique tourism sites (many of which are former military or other state-owned properties), some are major construction projects (such as the proposed highways or improvements to the railroad system), and some are quite complex (such as the various investment opportunities within the energy sector.)

Tourism:

Velika Plaza - Located primarily on government-owned land between the city of Ulcinj and Ada Bojana Island, Velika Plaza (a 13 km long sand beach with an unobstructed view of the Adriatic Sea) is located at the southern tip of Montenegro. It is 87 km from Tivat International Airport and around 70 km from the capital Podgorica. Plans for the gradual development of the property include: (i) the development of high-end tourist accommodations; (ii) the construction of a small VIP airport; (iii) upgrading telecommunication, efficient energy and water supply; and (iv) creation of coastal area protection (allowing up to 100 square meters of green surface per bed in order to provide luxury tourist accommodations.) During the prequalification process, tender letters of intent were submitted by four companies: Proofrock Investments (a Greek/US company); Hydra Properties and Bloom International Properties (both from the United Arab Emirates); and Trigranit (from Hungary.)

Ada Bojana Island - Located at the southernmost tip of Montenegro. The nearest international airport is located in Podgorica (85 km), while Tivat International Airport is 108km away. The 494-hectare island is flanked on two sides by the Bojana River, connecting directly to Skadar Lake, and the Adriatic Sea on the third side. Because of the site's unique natural environment and secluded private setting, the Government foresees the configuration and operation of an exclusive 4 to 5-star hotel/resort/village complex, reflecting contemporary Montenegrin architecture and including recreational facilities and services. The master plan for Ada Bojana envisions a capacity of up to 2,500 hotel beds within the current area designated for tourist development, and the Government anticipates that the hotel resort, once developed, will be listed in the international hospitality industry as a top nature resort.Nine companies, including two from the US, submitted letters of intent during the government tender for expression of interest in 2008.

Mamula Island - Mamula, on the border with Croatia, presents a popular one-day trip destination. The island, accessible only by boat, has a circular shape (200 meters in diameter) and coastline which consists of a rocky surface with a small beach section. The fortress located on Mamula currently has no accommodation, food, beverage, or boutique services.The development concept includes a luxury hotel with exclusive leisure, food service and wellness facilities, and berths for small and medium size yachts. The Government of Montenegro prefers a public-private partnership (PPP) model for this location.

Jaz Beach - Located in the central part of the Montenegrin coast, between the cities of Budva and Tivat. Plans for development center on an urban development concept, including a village complex offering accommodations, pensions, a water sports center, wellness facilities, food and beverage services, etc. The fields and hillside of Jaz must be surveyed in order to determine the exact available area. The Rolling Stones, Madonna, and Lenny Kravitz all performed concerts on the beach of Jaz in 2007 and 2008.

Buljarica Beach - Located between the cities of Bar and Budva. The land is mostly private, but the majority of owners are members of a local landowners association which is interested in creating a joint venture with potential strategic partners participating as shareholder partners.The development concept includes high-end residential accommodations, 4-5 star hotels, and a tourist village - all totaling up to 6,500 beds. A marina is also planned, as is a business center and an 18-hole golf course.

Bigovo - The Bigovo cove is situated on a peninsula between the cities of Budva and Tivat, adjacent to a historic fishing village. There is easy air access to the property via Tivat International Airport, just 20 kilometers from the site. The international airports at Podgorica (90 minutes) and Dubrovnik (90 minutes) provide additional access. The site encompasses 38,940 square meters of land, with leisure facilities currently on 2,873 square meters. Planning is in a nascent stage, but ideas for the gradual development of Bigovo include a luxury leisure motif utilizing - and maintaining - the natural surroundings.

Kumbor - Kumbor, a tourist resort on the Herceg Novi Riviera, is located on the shores of Kotor Bay, 6 km from the city of Herceg Novi. There are a number of small beaches and restaurants on the waterfront. Early planning ideas for the gradual development include the construction of a world-class, multifunctional upscale tourism resort as well as 4-5 star nautical and commercial amenities with leisure facilities.

Valdanos - Valdanos is located close to Ulcinj, southeast of Bar. This former military vacation camp, surrounded by olive trees, offers an unobstructed ocean-front view and unrivaled privacy. Airports are 68 km (Podgorica) and 86 km (Tivat) away. Valdanos Bay covers four square kilometers, and includes a pebble beach of approximately 100 meters in length and various low-rise camp and general public service facilities, ie tennis courts and parking areas. The conceptual framework includes a five-star resort, protection of the coastal area allowing up to 100 square meters of green surface per bed, luxury tourism accommodations of a maximum of four floors, and the protection of the ecological structure of the area. The Government of Montenegro is primarily interested in public-private partnership (PPP) projects. 

Hotel Park - Hotel Park is located on the shores of Kotor Bay in Herceg Novi, 10 km from Tivat airport and 30 km from Dubrovnik airport. The facility was built in 1975 and served as a tourist hotel until 2002, when it was converted into a lodge for recreational and professional divers. The hotel has 51 rooms, each with a balcony overlooking the sea.

Mediteran - This tourism complex is located within the Durmitor National Park in Zabljak, 1,456 meters above sea level. While it has direct access by paved road, the location evokes a feeling of isolation and connection with nature. It is adjacent to the famous Black Lake and is completely surrounded by pine trees. Views from the site are of forest and mountains. The intention is to create a world-class resort that is intimate in feel, as well as conceptually, aesthetically, functionally, and ecologically in harmony with the natural environment surrounding the property.

Infrastructure:

Highways - The Montenegrin Ministries of Maritime Affairs, Transportation and Telecommunication signed a public-private partnership contract in 2009 with the Croatian company Konstruktor for the design, financing, construction, operation, and maintenance of a new motorway running from the city of Bar on the Montenegrin coast to Boljare on the northern border with Serbia. Konstruktor is currently in the process of securing the financing envisaged in the contract. In addition, the Government of Montenegro is planning to develop the necessary documentation for the 105 km Adriatic-Ionian highway (also called the East-West Corridor) that would connect the Croatian and Albanian portions of the same highway.

Railway - The Government of Montenegro conducted a recent restructuring plan under which the Railway Company of Montenegro has been split into three separate companies: one which will be in charge of developing and maintaining the railroad infrastructure and traffic regulation; a second which will handle passenger transport; and a third which will handle cargo operations. Infrastructure management and traffic regulation will remain state controlled, while a joint investment with a strategic partner will be sought for infrastructure maintenance on the basis of a long-term contract with the Government. Privatization is planned for the operations side during 2010.

Transportation and Logistics:

Montenegro Airlines - Founded 15 years ago, Montenegro Airlines is registered for domestic and international passenger and charter traffic, as well as for the carriage of cargo and mail. Over the last 10 years, Montenegro Airlines has linked Montenegro with Frankfurt, Zurich, Paris, Rome, Vienna, Ljubljana, Moscow, London, Milan, and Belgrade. More than three million passengers have been transported to date. A July 2008 shareholders meeting decided to move from an LLC to a joint stock company as well as proceed with a new issuance of shares, representing 30 percent of the current company value. The consulting firm SH&E was selected as advisor for the privatization. Companies from Russia, Great Britain, and Israel have already shown interest.Representatives of Montenegro Airlines have stated that the European Bank for Reconstruction and Development is also interested in the airline. Montenegro Airlines was originally included in the 2009 privatization plan, but the process has been postponed to 2010 due to the lingering effects of the global economic crisis.

Luka Bar/Port of Bar - The Port of Bar spreads over 200 hectares. The total length of the operational coast is 3.5 kilometers, with a maximum depth of 14 meters and 120,000 square meters of secure warehouses.There are five specialized terminals in the port (passenger traffic, general cargo, containers, solid and liquid bulk), and maximum capacity is about five million tons. The Government owns 54 percent of total shares, while the remaining proportion is divided between the state privatization fund (16 percent), workers (11 percent), citizens (18 percent) and other legal entities (1 percent). The port employs 1,371 workers. The Port of Bar will be privatized according to the landlord model used in most European ports, with economic activities privatized or given on concession while infrastructure remains in state ownership.Interest in the Port of Bar has been strong for a long time. The State Privatization Council, the main Government body in charge of privatization, has worked with the port's management to reorganize operations and divide the company into five units, four of which will be up for tender.

Bijela Shipyard - The shipyard, established in 1927, is the largest ship-repairing and reconstruction yard in the southern Adriatic. Unsuccessful tenders for the shipyard have been announced several times so far and, according to the plan, will be announced again in the first quarter of 2010.

Energy:

Greenfield investment in hydropower plants on the Moraca River - The Government of Montenegro intends to develop the country's untapped hydropower potential through public-private partnerships. As a priority project, the Government wants to develop the Moraca River's potential through a series of four hydroelectric-power plants generating a total of 238 megawatts (MW) and an annual production of 693 gigawatt hours (GWh). Extensive geotechnical and hydrological studies have already been performed in order to prepare the technical documentation. Legal due diligence, a detailed spatial plan, and strategic environmental assessments was completed in February 2009. Interested parties may be requested to comment on the data from the existing technical documents and to produce improved design proposals for the development of the project. A pre-qualification tender is planned as the next stage of the bidding process. Expression of interest tenders were submitted in December 2008, and 13 companies have indicated their intention to participate in the actual tender process which will be announced beginning of 2010. Design/construction (DBOT) tenders for a number of small hydro plants will also be issued in 2010.

Manufacturing:

AD Plantaze - Plantaze is the largest producer of wine and table grapes in the entire region, and the market leader in wine production in the Balkans. Production capacity includes a vineyard area of 2,200 hectares (the largest in Europe), two wine cellars with total capacity of 250,000 hectoliters, 97 hectares of peach orchards, a fish-pond with annual production of 120 tons of California trout, 3,000 tons of cold storage capacity, retail facilities and catering-hospitality facilities. The privatization strategy and privatization process will be prepared and announced during 2010.

A number of US companies are already operating in Montenegro, and the Government of Montenegro has put an emphasis on attracting more American investment.

--Philip Morris International opened a branch office in Montenegro in May 2007. The main activity of the office is the import and distribution of Philip Morris products in the Montenegrin market.

--Coca-Cola HBC (Hellenic Bottling Company), one of the world's largest bottlers of Coca-Cola products, has been operating and distributing its products in Montenegro for more than a decade.

--Datacard Group won a Government of Montenegro/Ministry of Interior Affairs tender for the procurement of a system for issuing passports and national identification documents. The value of the contract, signed in July 2007, is €8,725,725. The issuance of new biometric Montenegrin passports started in Spring 2008.

--Microsoft officially opened its office in Montenegro in May 2007 during a Podgorica conference aimed at presenting the company's latest technology and products. The software giant had already been working with the Government of Montenegro and local partners on different projects (software legalization, e-government, and IT modernization for government institutions) and signed a new strategic partnership agreement with the GoM on December 18, 2008.

--Oracle signed a strategic partnership agreement with the Government of Montenegro on the same day, and these two agreements will allow for the purchase and use of Microsoft and Oracle licenses and software by the GoM, state agencies, municipal authorities and state-owned companies.

--Becovic Management Group (BMG) purchased the Hotel Mediteran property in July 2005 from the state-controlled hotel/travel company "Ulcinjska Rivijera" (UR) for €940,000. BMG intends to redevelop the property into a first-class coastal destination resort, with mixed-use resort and entertainment components. The total investment value is €6 million.

--Media Development Loan Fund (MDLF) bought 25 percent of the shares of Daily Press, publisher of the top daily newspaper "Vijesti." MDLF is considering the purchase of additional shares, but the local owners currently will only sell a maximum of 40 percent of Vijesti shares to MDLF.

--Morgan Invest purchased 38 percent of the shares of the Titex textile factory in Podgorica for €2.45 million. The American company bought the shares of the bankrupt factory from the Slovenian company Novus, which had paid €538,000 for them in 2004.

--US firm GoDaddy successfully won its bid to become the agent for domain registration for the national internet domain of Montenegro (the new ".ME" internet domain.) GoDaddy will operate for five years, with a possible extension of this term.

In order to further develop commercial ties between the US and Montenegro, the first American Chamber of Commerce in Montenegro was launched on November 19, 2008. AmCham Montenegro serves as a leading advocate for American as well as other foreign businesses in Montenegro.

Edin Seferovic, Acting Executive Director 
American Chamber of Commerce in Montenegro 
Kralja Nikole 27a/4 
81000 Podgorica, Montenegro 
Tel/Fax: +382 20 621 628 
Website: http://www.amcham.me/

The US-Montenegro Business Council was formally opened in Podgorica on December 16, 2008. The Council's mission is to promote trade and investment between the US and Montenegro. Additionally, through its sister office in the US, the Council will seek to encourage more American investors to learn about opportunities in Montenegro, as well as to help Montenegrin companies explore business opportunities in the US Also, as a part of the strategic partnership between Montenegro and State of Maryland, the Council's office in Podgorica will also serve as a Maryland state trade office.

The Council announced that it will begin to offer a special program to Montenegrin companies from January 2010 which will enable them to establish braches in the State of Maryland free of charge, with the Council covering the set-up costs.

Svetlana Vukcevic, Executive Director 
US - Montenegro Business Council 
Jovana Tomasevica 2 
81000 Podgorica, Montenegro 
Tel/fax: +382 20 245 564 
Website: http://www.usmnebc.org/  

In order to better promote investment and foster economic development, the Government of Montenegro established the Montenegrin Investment Promotion Agency (MIPA) in mid-2005. It seeks to advertise Montenegro as a competitive investment destination by actively facilitating investment projects in the country.

Inquiries on investment opportunities in Montenegro can be directed to:

Petar Ivanovic, Director 
Montenegrin Investment Promotion Agency (MIPA) 
Jovana Tomasevica 2 
81000 Podgorica, Montenegro 
Tel/fax: (+382 20) 203 140, 203 141, 202 910 
Website: http://www.mipa.co.me/ . 
E-mail: info@mipa.co.me

Montenegro has enacted specific legislation outlining guarantees and safeguards for foreign investors. Montenegro's Foreign Investment Law (ratified in November 2000) establishes the framework for investment in Montenegro. The law eliminates previous investment restrictions, extends national treatment to foreign investors, allows for the transfer/repatriation of profits and dividends, provides guarantees against expropriation, and allows for custom duty waivers for equipment imported as capital-in-kind.

Montenegro also has adopted more than 20 other business-related laws, all in accordance with EU standards. The main laws that regulate foreign investment in Montenegro are: the Foreign Investment Law; the Enterprise Law; the Insolvency Law; the Law on Fiduciary Transfer of Property Rights; the Accounting Law; the Law on Capital and Current Transactions; the Foreign Trade Law; the Customs Law; the Law on Free Zones; the Labor Law; the Securities Law; the Concession Law, and the set of laws regulating tax policy.

Montenegro has made significant steps in both amending investment-related legislation in accordance with world standards and creating the necessary institutions for attracting investments. However, as is the case with other transition countries, implementation and enforcement of existing legislation remains a problem.

A.2. Conversion and Transfer Policies 

The Foreign Investment Law guarantees the right to transfer and repatriate profits in Montenegro.

Montenegro uses the Euro as its domestic currency. There are no difficulties in the free transfer of funds exercised on the basis of profit, repayment of resources, or residual assets.

A.3. Expropriation and Compensation

Montenegro provides legal safeguards against expropriation.Protections are codified in several laws adopted by the government.There have been no cases of expropriation of foreign investments in Montenegro. However, Montenegro has outstanding claims related to property nationalized under the Socialist Federal Republic of Yugoslavia.

On March 23, 2004, Montenegro passed a new Restitution Law. The necessary sub-acts entered into effect on January 1, 2005, and the Restitution Fund (which will provide cash compensation when necessary) came into existence on March 1, 2005. The basic restitution policy in Montenegro is restitution in kind when possible, and cash compensation or substitution of other state land when physical return is not possible.

At the end of August 2007, Parliament passed a new Law on Restitution which supersedes the 2004 Act. In line with the new law, three review commissions have been formed: one in Bar (covering the coastal region); one in Podgorica (for the central region of Montenegro); and one in Bijelo Polje (for the northern region of Montenegro.)

Montenegro provides safeguards from expropriation actions through its Foreign Investment Law. Article 29 states that the government cannot expropriate property of a foreign investor unless there is a "compelling public purpose" established by law or on the basis of the law. If an expropriation is executed, compensation must be provided at fair market value plus one basis point above the LIBOR rate for the period between the expropriation and the date of payment of compensation.

A.4. Dispute Settlement

Post is not aware of any investment disputes involving American companies or other foreign investors in Montenegro.

Legal System:

Montenegro's Law on Courts defines a judicial system consisting of three levels of courts: Basic, Superior, and the Supreme Court. It also establishes two courts -- the Appellate and Administrative Courts (established in 2005) -- with special jurisdiction for commercial matters.

The Basic Courts exercise original jurisdiction over civil and criminal cases. There are 15 courts for Montenegro's 21 municipalities. Two Superior Courts in Podgorica and Bijelo Polje have appellate review of municipal court decisions. The Superior Courts also decide on jurisdictional conflicts between the municipal courts.

The two commercial courts (which also handle economic crimes) were established in Podgorica and Bijelo Polje. They have jurisdiction in the following matters: shipping, navigation, aircraft (except passenger transport), intellectual property rights, bankruptcy, and unfair trade practices. The Superior Courts hear appeals of Basic Court decisions, and Superior Court decisions may be appealed to the Supreme Court.The Supreme Court is the court of final judgment for all civil, criminal and administrative cases.

The commercial court system faces challenges, such as the introduction of new legislation and changes to existing laws; developing a new system of operations, including electronic communication with clients; and a lack of capacity and expertise among the judges. Some reform proposals have included creating a High Commercial Court or dedicating a chamber of the Supreme Court to commercial cases. Some judges also have suggested designating a particular court with assigned competency for specific areas in order to streamline caseloads and develop specialized expertise for complicated economic crimes/matters.

The legislative environment has been significantly changed as more than 20 business laws have been adopted. The goal was to remove barriers for doing business in Montenegro and to attract foreign investors.

--The Business Organization Law, adopted in 2001, simplified the procedures for initial registration of companies; currently only one euro and four days are necessary to register an LLC in Montenegro. According to an OECD survey, Montenegro has the lowest barriers for initial registration of a business in the region. In accordance with this law, the Central Register of the Commercial Court was founded, and online searches for companies registered in Montenegro are now possible.

--The Business Insolvency Law, adopted in 2001, simplified the procedure for company insolvency. The law provides insolvent companies with three options: voluntary liquidation; restructuring; or bankruptcy proceedings. The length of the bankruptcy process has been cut, and it is easier to liquidate a company.

--The Accounting and Auditing Law has brought international standards into the Montenegrin accounting and auditing system. The Institute for Accounting and Auditing was founded as an independent institution to supervise the whole process and is in charge of granting the licenses and permits for accountants and auditors.

--The Montenegrin Parliament adopted the Competition Law, which went into force on January 1, 2006, and is regarded as an improvement to the investment climate in Montenegro as it provides a legal basis for competition in the market and puts some regulations on monopolies.

--The Law on the Participation of the Private Sector in Public Services, adopted in 2002, allows private companies to participate in public-private partnerships through leasing, management contracts, build-operate-transfer arrangements (BOT), and concessions.

--The Customs Law, in line with World Trade Organization and European Union requirements, was introduced in Montenegro in 2003. The law simplifies import-export procedures, which should increase international trade flows.

--The set of Tax Laws was implemented in 2003 and introduced the Value Added Tax (17 percent), which replaced the sales and turnover tax. The VAT has simplified the tax system and provides for a significant amount of budget revenues.

--At the end of April 2004, Parliament adopted the Foreign Trade Law.The law decreases barriers for doing business and executing foreign trade transactions and is in accordance with WTO standards. However, the law still provides scope for restrictive measures and discretionary government interference. In addition, the law appears to be more about protecting producers rather than consumers - who pay the real costs of protection in the end.

--The new Labor Law was adopted in July 2008. It defines a single collective agreement for both public and private sectors, maintains the existing level of severance payments (ie the average of the past six months' salaries), and retains the current 365 days of allowed maternity leave. Besides the Labor Law, the question of labor-based relations is also defined in the General Collective Agreement, Branch-level Collective Agreements, and with individual labor agreements between employer and employee.

--A new Concession Law was adopted in February 2009 and created favorable conditions for obtaining and utilizing concession licenses. The law also regulates the conditions and procedures for obtaining a concession to exploit natural resources, use property in the public domain, and/or conduct activities of general interest. The Concession Law is fundamental to support the public-private partnership process through which a number of future projects will be realized in Montenegro.

Also adopted in the last five years were the Law on the Central Bank, the Law on Pledges (which provides for a bailment of personal property as security for some debt or engagement), the Law on Strikes, the Electronic Signature Law, and the Law on Free Zones. 
Dispute resolution is under the authority of national courts, but it can also fall under the authority of international courts if the contract so designates, meaning that Montenegro allows for the possibility of international arbitration. Various foreign companies have other bilateral and multilateral organizations -- such as MIGA (World Bank), OPIC (US), ECGD (UK), SID (Slovenia), SACE (Italy), COFACE (France), and OEKB (Austria) -- providing risk insurance against war, expropriation, nationalization, confiscation, inconvertibility of profit and dividends, and inability to transfer currency.

A.5. Performance Requirements and Incentives

The government does not impose any performance requirements as a condition for establishing, maintaining, or expanding an investment.

Limited incentives are offered to foreign investors; for example, the government offers duty exemptions for imported equipment.

A.6. Right to Private Ownership and Establishment

In Montenegro, a foreign investor, foreign company, or foreign individual may acquire property. Article 12 of the Montenegrin Foreign Investment Law specifically permits foreign investors to purchase real estate through a contract. This right is explicitly reinforced by the Law on Property and Law Relations. The Act states that foreign persons and companies can, based on reciprocity, acquire rights to real estate, such as company facilities, places of business, apartments, living spaces, and land for construction. Additionally, foreign persons can claim property rights to real estate by inheritance in the same manner as a domestic citizen.

A.7. Protection of Property Rights

Mortgages/Secured Transactions:

In July 2002, Montenegro enacted its Law on Secured Transactions and established a collateral registry at the Commercial Court in May 2003.The registry's operational guidelines have been drafted and approved by the Commercial Court. The main goal of the Law on Secured Transactions is to establish a clear and transparent framework.

In August 2004, Montenegro adopted a new Law on Mortgages by which immovable property may be encumbered by a security interest (mortgage) to secure a claim for the benefit of a creditor who is authorized, in the manner prescribed by the law, to demand satisfaction of his claim by foreclosing the mortgaged property with priority over creditors who do not have a mortgage created on that particular property, as well as over any subsequently registered mortgage, regardless of a change in the owner of the encumbered immovable property.

Intellectual Property Rights:

The acquisition and disposition of intellectual property rights are protected by the Law on the Enforcement of Intellectual Property Rights, which entered into force on January 1, 2006. The law provides for fines for legal entities of up to €30,000 for selling pirated and/or counterfeited goods. It also provides ex officio authority for market inspectors in the areas mentioned above. In April 2005, the Montenegrin Parliament adopted the Regulation on (TRIPs) Border Measures that provides powers to the custom authorities to suspend the customs procedure and seize pirated and counterfeit goods.

Montenegro's Penal Code acknowledges infringement of all intellectual property rights, allows ex officio prosecution, and provides for stricter criminal penalties. The Law on Optical Disks was adopted in December 2006; it requires the registration of business activity when reproducing optical disks for commercial purposes and provides for surveillance of optical disk imports and exports, and imports and exports of polycarbonates (the material used in production of optical disks) and equipment for the production of optical disks.

Since independence in 2006, the relevant authorities (the Ministry of Culture and Media, the Ministry for European Integration, as well as various NGOs) have begun to work on establishing an institutional and regulatory framework for intellectual property protection. Montenegro became member of WIPO in December 2006. The Montenegrin Intellectual Property Office (IPO) was officially opened on May 28, 2008.It currently employs 14 out of the 22 planned staff and already has laid the groundwork for formalizing cooperation with other IPOs in the region. A regulation on the recognition of intellectual property rights was adopted in September 2007. Under this regulation, any rights registered with the Union Intellectual Property Office or with the Serbian Intellectual Property Office and any pending applications filed with these Offices before May 28, 2008 are enforceable in Montenegro. Any IPR application submitted after that date in Serbia will have to be re-submitted in Montenegro within six months, in order to retain its acquired priority.

IPR market inspectors, police officers, customs officers, and employees of the Ministry of Economy attended a number of training seminars on intellectual property protection and counterfeiting, including an IPR enforcement workshop hosted by the American Chamber of Commerce in December 2009. At the end of 2007, the Customs Administration signed a Letter of Intent for Acceptance of SECURE Standards (standards to be employed by customs for uniform rights enforcement), adopted by the World Customs Organization (WCO) with a view to more efficient protection of intellectual property rights by customs authorities.

Since 2002, judges from the Commercial Court in Podgorica have participated in relevant seminars organized both in Montenegro and abroad (USA, Bulgaria, Macedonia, Bosnia and Herzegovina, Croatia, Italy, and Serbia.)

In order to further improve situation with the intellectual property protection AmCham Montenegro established an IPR Committee in April 2009. The main goal of the Committee is to work closely with the Montenegrin institutions which are dealing with PR, to increase public awareness of the importance of intellectual property protection, and to help the GoM strengthen its administrative capacities in this field.

Montenegro is not on the Special 301 Watch List. In practice, however, IPR enforcement is weak and insufficient. The sale of pirated optical media (DVDs, CDs, software) as well as counterfeit trademarked goods, particularly sneakers and clothing, is widespread. Enforcement is slowly improving as customs, police, and judicial authorities obtain the necessary tools, but institutional capacity is still limited.

Overall, further progress still needs to be made on the protection of intellectual property rights, especially with regard to the still-limited institutional and enforcement capacity and the low level of public awareness.

International Agreements:

The former State Union of Serbia and Montenegro ratified many conventions and agreements. It should be noted that in its Declaration of Independence Montenegro stated: "The Republic of Montenegro will apply and assume international agreements and treaties which were concluded by the State Union and which are in accordance with the Montenegrin judicial system."

The following conventions and agreements in the field of intellectual property have been signed and continued with implementation after independence:

·         Convention Establishing the World Intellectual Property Organization (1967) [member since October 1, 1973];

·         Paris Convention for the Protection of Industrial Property (1883) [member since February 26, 1921];

·         Berne Convention for the Protection of Literary and Artistic Works (1886) [member since June 17, 1930];

·         Madrid Agreement Concerning the International Registration of Trademarks (1891) [member since February 26, 1921];

·         Protocol relating to the Madrid Agreement Concerning the International Registration of Trademarks [member since February 19, 1997];

·         Patent Cooperation Treaty (1970) [member since February 1, 1997];

·         Hague Agreement Concerning the International Deposit of Industrial Designs (1925) [member since December 30, 1993];

·         Universal Copyright Convention (1952) [member since 1966];

·         Nice Agreement Concerning the International Classification of Goods and Services for the Purposes of the Registration of Trademarks (1957) [member since August 30, 1966];

·         Locarno Agreement Establishing an International Classification for Industrial Designs (1968) [member since October 16, 1973];

·         Convention Relating to the Distribution of Program-Carrying Signals Transmitted by Satellite (1974) [member since August 25, 1979];

·         Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure (1977) [member since February 25, 1994];

·         Trademark Law Treaty (1994) [member since September 15, 1998];

·         Lisbon Agreement for the Protection of Appellations of Origin and their International Registration (1958) [member since June 1, 1999];

·         Madrid Agreement for the Repression of False or Deceptive Indications of Source on Goods (1891) [member since May 18, 2000];

·         Nairobi Treaty on the Protection of the Olympic Symbol (1981) [member since March 18, 2000];

·         Treaty on Intellectual Property with Respect to Integrated Circuits (1989) (signed, not ratified];

·         International Convention for the Protection of Performers, Producers of Phonograms and Broadcasting Organizations [member since December 20, 2002];

·         Convention for the Protection of Producers of Phonograms Against Unauthorized Duplication of their Phonograms [member since December 20, 2002];

·         WIPO Copyright Treaty [member since December 20, 2002];

·         WIPO Performances and Phonograms Treaty [member since December 20, 2002]

WTO Accession:

·         Montenegro has not been accepted as a member in the World Trade Organization (WTO) as planned, largely due the inability to conclude bilateral agreements with all WTO members. In particular, Ukraine has sought from the GoM additional clarification on legislation in the fields of agriculture, industrial goods and services before bilateral negotiations can continue.

·         Montenegro applied for membership in WTO in December 2004 and has come a long way since then. In February 2005, the WTO General Council accepted its application, and a working group was established to begin the negotiation process. Bilateral agreements have been signed with the United States, the EU member states, Switzerland, Brazil, Norway, Canada, China and Japan.

·         Accession to the WTO is expected to make a positive and lasting contribution to the process of economic reform and sustainable development in Montenegro. A large part of Montenegro's trade is already with the EU, but the further mutual opening of markets and abolishment of restrictions to market access for goods and services will benefit entrepreneurs on both sides and stimulate investment.

·         Bilateral trade commitments between the EU and Montenegro are already embodied in the Stabilization and Association Agreement (SAA) which was signed on October 15, 2007. Pending completion of the ratification process in the 27 EU Member States, an Interim Agreement has been applicable since January 1, 2008 and allows for the early implementation of trade and trade-related provisions of the SAA.

·         The US Government, through USAID, provided technical assistance to Montenegro on the WTO accession process; the project was completed in December 2008.

A.8. Transparency of Regulatory System

The Montenegrin Law on Foreign Investment is based on the national treatment principle, and all proposed laws and regulations are published in draft form and open for public comments, generally for a 30-day period.

Foreign investors can establish a company and invest in it in the same manner and under the same conditions which apply to domestic persons. The same regulations are applied to both domestic and foreign investors, and there are no other regulations which might deprive a foreign investor of any rights or limit such rights. With the July 2007 changes and amendments, the Law of Foreign Investments is now fully harmonized with World Trade Organization rules.

On January 22, 2004, the Parliament of Montenegro established an Energy Regulatory Agency, which has authority over the electricity, gas, oil, and heating energy sectors. Its main tasks are the approval of pricing, development of a model for determining allowable business costs for energy sector entities, issuance of operating licenses for energy companies and for construction in the energy sector, and the monitoring of public tenders. The energy law prescribes that those energy sectors where prices are affected by the monopoly positions of some participants, business costs will be set at levels approved by the Agency. In those areas deemed to function competitively, the market will determine prices.

The Agency for Telecommunications was founded by the Montenegrin government in 2001. It is an independent regulatory body whose primary purpose is to design and implement a regulatory framework and encourage private investment in the sector.

Montenegro launched reforms of the tax system and overall financial system in 2001 in order to: encourage domestic production and investments; make Montenegro more attractive to foreign investors; make locally produced goods more competitive in foreign markets; harmonize the tax system with EU Directives and international standards; make the tax system simpler, more efficient, and easier to implement; and generate income for the state budget.

Key segments of the tax reform package include a value added tax (applied since April 1, 2003) which replaced the previous retail tax and use of a self-assessment principle under which tax liability was calculated by the taxpayer, while the related procedure was controlled by a tax authority. In addition, the tax administration has also been transformed, and some competencies related to the collection of local revenues have been delegated to the local government.

The tax system in Montenegro is comprised of the following tax laws:

- Corporate Profit Tax [effective from January 1, 2002] 
- Personal Income Tax [effective from January 1, 2007] 
- Property Tax [effective from January 1, 2003] 
- Excise Tax [effective from April 1, 2002] 
- Value Added Tax (VAT) [effective from April 1, 2003]

The Corporate Tax Law proscribed a proportional tax rate of 9 percent.The corporate income taxpayer is defined as a resident or non-resident legal person performing an activity for profit. A limited partnership is also subject to corporate income tax.

The new Law of Personal Income Tax entered into force on January 1, 2007. This law proscribes a flat tax rate of 15 percent on personal income; on January 1, 2009 this rate was reduced to 12 percent, and will be further reduced in 2010 to 9 percent. A personal income taxpayer is defined as a resident or non-resident natural person who earned income from sources determined under the law. When two or more natural persons jointly earn income, a taxpayer is any of these persons in proportion with the sharing of such income.

The Value Added Tax rate is 17 percent, slightly below the average for EU member states. Amendments to the law have reduced the tax rate from 17 percent to 7 percent on accommodation services in tourism, on medicines which are not on a list designated by the Health Fund, and on communal services, transport services, and authorial services (such as copyrights and services in the area of education, literature, and art). The reduction of the VAT for tourist services has helped foster the growth of that sector. A zero VAT rate is applied on export transactions and on delivery of medicines and medical devices which are funded by the Health Insurance Fund.

The law also provides for several types of exemptions: for services of public interest (public postal services, health services, social security services, pre-school education services, sport, religious and other public services); import of goods (products brought into Montenegro with transit customs procedure, services relating to import of goods etc.); temporary import of goods (products imported on a temporary basis provided that they are exempt from customs duty according to customs regulations), and special exemptions (import of goods to be inspected by the customs authority; products that enter free customs zone or free customs warehouse; and products under customs storage procedure or under import procedure for export on the basis of delay).

The tax period for the VAT is defined as a calendar month, and taxpayers are obliged to file monthly VAT returns. These returns are filed by the 15th of each month following the month for which a tax liability is paid. The VAT on imports is paid concurrently with the customs duty payment. (Note: VAT is a part of the customs liability.)

A.9. Efficient Capital Markets and Portfolio Investment

The banking sector in Montenegro is completely privatized. There are eleven banks operating in the country, and all of them are in private ownership; two are locally-owned while the other nine are part of international banks. Total bank assets at the end of July 2009 amounted to €3.10 billion, and total deposits amounted to €1.73 billion. Time deposits accounted for 58.5 percent of the total deposits. The largest share within the time deposit structure was made up of deposits of up to one year (27.1 percent); time deposits of up to three months comprised 16.5 percent and deposits of up to three years amounted to 13.3 percent.

Loans amounted to €2.61 billion at the end of July, a 6.6 percent (€184.3 million) decline from the end of December 2008. In the structure of disbursed loans, corporate and household loans accounted for 95.4 percent of the total, and the remaining 4.6 percent was attributed to banks, other financial institutions, public owned organizations, non-profitable organizations and others.

In October 2008, the Government of Montenegro adopted the Act on Protection Measures for the Banking Sector to mitigate the negative consequences of the global economic crisis by stabilizing and strengthening the country's banks. A new set of laws will additionally improve the regulation of banking sector and provide a higher level of depositor safety and increase of trust in banking sector itself. In addition, the law will help ensure increased protection of deposits in case of sudden disturbances in the banking sector.

The Euro has been officially in use in Montenegro since March 31, 2002.Montenegro is one of a few countries (together with Andorra and Kosovo) that do not belong to the Euro zone but use Euro as its official currency, without any formal agreements. Use of the Euro defines the role of the Central Bank; since its authority is limited, it has focused on control of the banking system, and maintenance of the payment system.It acts as the state fiscal agent and monitors monetary policy.

Capital Markets:

The capital market in Montenegro comprises two stock markets. In early 2008 one of the stock exchanges launched a takeover bid, but failed to take control of its rival. Seven investment funds and 24 brokerage companies participate in the market. A number of banks also participate in the capital market through the establishment of pension funds, formation of broker associations, or performance of custody operations.

The volume of trade on both Montenegrin stock exchanges during the first nine months of 2009 amounted to €342.8 million, almost two-and-a-half times more than the volume of trade in the same period in 2008 (€137.2 million). Transactions totaled 48,250, which represents a 12 percent increase over the 2008 figure. The significant increase in 2009 trading volume is largely the result of the sell-off of a minority stake in the Electric Power Company of Montenegro (EPCG).

Three types of securities are traded: company shares; privatization-investment fund shares; and bonds. The range of available bonds includes Old Currency Savings bonds, Restitution Fund bonds and local self-government bonds. During the first nine months of 2009, the greatest turnover was recorded in the company share sector (93.6 percent), followed by various other assorted bonds (4.2 percent). The total turnover of Investment Funds amounted to 2.2 percent.

Trade on the NEX Stock Exchange:

The total volume of trade during the first nine months of 2009 was €150.8 million, and the number of transactions totaled 16,013.Compared with the total volume during the same period in 2008, trade volume was twice as high. The highest monthly trade volumes were recorded in July, when shares of EPCG generated a total of €19.9 million in turnover through 485 transactions, and in September, when Telekom Montenegro reached a trade volume of €1.1 million through a total of 301 transactions.

Trade on the Montenegro Stock Exchange:

Total trade volume during the first nine months of 2009 totaled €191.9 million, approximately three times more than during the same period in 2008. The most traded companies from January to October 2009 were the Electric Power Company of Montenegro (EPCG), which achieved €124.3 million through 548 transactions in May, and Opportunity Bank, which achieved a trade volume of €13 million through just one transaction in March.

A.10. Competition from State-Owned Enterprises (SOEs)

Private enterprises in Montenegro are able to compete with public enterprises under the same terms and conditions with respect to access to markets, credit and other business operations.

The Government of Montenegro is the main institution responsible for the privatization process. In order to manage, control and implement the privatization process, the Government established the Privatization Council to define the goals, methods and specific means of privatization.The responsibility of this council is defined by the Law on Economic Privatization. The Privatization Council announces each year the plan for privatization which defines which companies will be privatized and the methods for their privatization.

The privatization process in Montenegro is in its final phase. The majority of companies that have not yet been privatized are of strategic importance to the Montenegrin economy in such fields as energy, transport, and tourism. Further privatization of state-owned companies should contribute to achieving better economic performance, increase the competitiveness of the country and enable the Government of Montenegro to generate higher revenues which will enhance capital investments and reduce debts.

From the beginning of the privatization process in 1999 through the end of September 2009, nearly 90 percent of the capital in Montenegrin companies had been privatized. The Government of Montenegro still holds shares in 60 companies and retains majority ownership in more than 30 of them. The most important state-owned companies include the Port of Bar, Montenegro Railways, the Electric Power Company of Montenegro (EPCG), the Bijela Shipyard, Montenegro Airlines, Airports of Montenegro, and the Plantaze Vineyard. All of these companies are registered as joint-stock companies, with the Government of Montenegro appointing one or more representatives to each Board based on the ownership structure.

A.11. Corporate Social Responsibility (CSR) 

The awareness of corporate social responsibility exists among Montenegrin enterprises, and entrepreneurs recognize that CSR is an important tool for development of their businesses. CSR programs are strongest in large, privately-owned Montenegrin and foreign firms, but small firms do engage in some CSR activities. A recently conducted survey by UNDP showed that large private companies are, indeed, more engaged in CSR activities, whereas small companies cited the lack of knowledge about CSR and the lack of support and interest from clients as the main reasons for not participating.

A.12. Political Violence

Montenegro has been led by democratically-elected governments since 1991. The current government strongly supports Montenegro's integration into the European Union and NATO, as well as implementing the reforms necessary to achieve these goals.

There is no sustained anti-American sentiment among the general public despite some residual resentment stemming from the 1999 NATO bombing campaign in Serbia. Montenegro and the United States share most policy goals and cooperate productively in many areas. There is broad support for a strengthening of ties with the United States, especially in the economic/commercial sphere.

A.13. Corruption 

As is the case with many countries in transition and in the region, corruption is a significant issue in Montenegro. Corruption routinely places high on the list of citizens' concerns in opinion polls. According to the Transparency International Corruption Perceptions Index for 2009, Montenegro ranked 69th worldwide (out of the 180 countries included in the study) - an improvement of 15 places over 2008.

The government's goal of integrating with European and Euro-Atlantic institutions has spurred efforts to counter corruption. In 2001, the government established an Anti-Corruption Agency responsible for preparing anti-corruption legislation, improving the transparency of financial and business operations, coordinating activities with NGOs, and promoting awareness in combating corruption.

In 2005, the government adopted an official Program for the Fight Against Corruption and Organized Crime, then created an Action Plan to implement the Program the following year. In 2007, the GoM established a National Commission to monitor the implementation of the Action Plan.Minister for European Integration Gordana Djurovic currently heads the Commission, which meets regularly throughout the year.

A legal framework to help combat corruption and organized crime has been in force since the August 2006 adoption of the Law on Witness Protection. Montenegro is also preparing a criminal intelligence system, and has been a full member of the International Criminal Police Organization-Interpol since September 2006.

In the past two years, progress on combating corruption has been achieved through the passage of important legislation on public procurement, the treasury and budget system, and the courts.Implementation of these laws is now a priority for the government.

A.14. Bilateral Investment Agreements

Montenegro signed the Central European Free Trade Agreement (CEFTA) -- intended to eliminate all custom restrictions for industrial and agricultural products in member states by 2010 -- in December 2006.The Parliament ratified CEFTA on March 21, 2007, and it took effect in Montenegro (and simultaneously in Albania, Macedonia, Moldova, and Kosovo) on July 26, 2007. Bulgaria, the Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia were already parties to the Agreement.Montenegro was the rotating CEFTA Presidency during 2009.

The United States does not have a Bilateral Investment Treaty (BIT) with Montenegro. It is possible that, given the presence of US investors, Montenegro could be a BIT candidate in the future.

The US restored Normal Trade Relations (Most-Favored Nation status) to Montenegro in December 2003. This provides improved access to the US market for goods exported from Montenegro. The US Government is reviewing Montenegro's request to be designated a beneficiary developing country under the US Generalized System of Preferences (GSP) program, which would provide duty-free access to the US market in various eligible categories. 
Other free trade agreements:

·         Free Trade Agreement with Russia. A free trade agreement with Russia, concluded in August 2000, provided for the gradual elimination of barriers to Montenegrin exports to Russia by 2005.The agreement stipulates that the importing country regulate the rules of origin, in accordance with WTO principles. The list of products not covered by the duty free agreement is updated annually, and it currently includes poultry, sugar, chocolate, alcoholic beverages, soap, cotton, carpets, wooden furniture, household appliances, and motor vehicles.

·         Preferential Trade Agreement with the European Union. The EU has taken steps to stimulate the export of goods among countries in the region through the establishment of autonomous trade preferences (ATP), which provide duty-free entry for over 95 percent of goods. Exemptions include wine, meat, and steel.Products originating from Montenegro are generally admitted into the European Union without quantitative restrictions and are exempted from custom duties and charges. The products exempted from the free import regime are agricultural products, "baby beef" products, and textile products.

·         Free Trade Agreement with Turkey. Montenegro and Turkey signed an asymemetric Free Trade Agreement in November 2008.While the list of industrial products covered is identical to that signed with the EU, the list of agricultural products is rather limited. The Montenegrin Parliament ratified the Agreement in July 2009, and ratification of the Parliament of Turkey is expected.EFTA countries (Switzerland, Norway, Iceland, and Liechtenstein).A preliminary declaration of cooperation was signed with EFTA in December 2000, pledging asymmetric treatment of Montenegro products in the markets of the four member countries. The declaration has paved the way for a future free trade agreement between EFTA and Montenegro. 

A.15. OPIC and Other Investment Insurance Programs

OPIC is a self-sustaining US Government agency, which promotes growth in developing countries by encouraging US private investment.OPIC's key programs include loan guarantees, direct loans and political risk insurance. Montenegro, through the State Union of Serbia and Montenegro, became eligible for OPIC programs in July 2001. OPIC activities in Montenegro include: insurance for investors against political risk, expropriation of assets, damages due to political violence and currency convertibility; and insurance coverage for certain contracting, exporting, licensing and leasing transactions. OPIC also established the Southeast Europe Equity Investment Fund that is managed by Soros Management; the fund is capitalized at $150 million. For more information, please see: http://www.opic.gov

Montenegro became the member of the World Bank Group in January 2007 by signing the Articles of Agreement of the International Bank for Reconstruction and Development (IBRD). Montenegro is a member of the IBRD and has also joined the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

A.16. Labor

Montenegro's total labor force is comprised of approximately 257,000 people; the unemployment rate in December 2009 was 11.17 percent, a slight increase over the same period in 2008. The average gross monthly wage in 2009 was $930 (€633), while the average net monthly wage was $670 (€456).

Over the past few years, employment in private companies has increased, and total employment in the social sector (including state-owned companies) has decreased. Major sectors generating employment in Montenegro are tourism, ports and shipping, and manufacturing (ie aluminum.)

Bringing Montenegro's labor market legislative framework into accordance with EU standards is one of the primary economic tasks of the GoM. The new Labor Law was adopted in July 2008. It defines a single collective agreement for both public and private sectors, maintains the existing level of severance payments, and retains the current 365 days maternity leave. The Law on Peaceful Resolution of Labor Disputes was adopted in December 2007. It introduces out-of-court settlement of labor disputes for the first time in Montenegro. However, the agency required for implementation of the Law still needs to be established.

During the first eight months of 2009, the national employment agency granted licenses for employment to 14,647 foreigners -- 90 percent of whom were engaged in seasonal employment (ie tourism, catering and construction.) The New Law on the Employment of Nonresidents took effect on January 1, 2009 and mandates the government to set a quota for nonresident workers in the country. The nonresident quota for the 2010 tourist season is expected to be approximately 40,000 persons.

Substantial amendments to existing legislation and timely adoption of the necessary by-laws are needed to align legislation on workplace health and safety more closely with the EU acquis communitaire. The administrative capacity of the Ministry of Labor and its inspection department are not yet strong enough, and the establishment of the workplace safety agency needs to be prioritized. The newly adopted Law on Pension Insurance has also helped to reform the pension system.

A.17. Foreign-Trade Zones/Free Ports

In June 2004, Montenegro passed a Free Trade Zone Law, which offers businesses benefits and exemptions from custom duties, taxies and other duties. The Port of Bar is currently the only free trade zone in Montenegro.

All regulations are in compliance with EU legal standards. Complete equality has been guaranteed to foreign investors in reference to ownership rights, organizing economic activities in the zone, complete free transfer of profit and deposit, and the security of investments.

All Free Zone users have at their disposal the use of infrastructure, Port handling services, and all telecommunication services.

Contact:

AD Luka Bar (Port of Bar Holding) 
Obala 13. Jula bb 
85000 Bar, Montenegro 
Phone/Fax: +382 30 312 666 
E - mail: lukabar@t-com.me 
Web site: www.lukabar.me

A.18. Foreign Direct Investment Statistics

Investing Company: CVC Capital Partners 
Country: Luxembourg 
Investment: Acquisition of Niksic Brewery for USD 25.2 million

Investing Company: Societe Generale 
Country: France 
Investment: Acquisition of 64.45 percent of Podgoricka Bank for USD 16.8 million

Investing Company: Hellenic Petroleum 
Country: Greece 
Investment: Acquisition of the 54.4 percent of Jugopetrol Kotor petroleum refinery for USD 120 million

Investing Company: Telenor 
Country: Norway 
Investment: Acquisition of Promonte mobile operator for USD 145 million

Investing Company: Matav (with Deutsche Telecom) 
Country: Hungary 
Investment: Acquisition of 51 percent of Telecom Montenegro for USD 142 million

Investing Company: Rusal 
Country: Russia 
Investment: Acquisition of "KAP" aluminum plant for USD 58.2 million

Investing Company: Daido 
Country: Japan 
Investment: Acquisition of ball bearing factory for USD 11.2 million 

Investing Company: HIT Nova Gorica 
Country: Slovenia 
Investment: Acquisition of the Hotel Maestral for USD 48 million

Investing Company: Beppler & Jacobson 
Country: England 
Investment: Acquisition of Hotel Bianca for USD 10.8 million

Investing Company: Salomon Ent 
Country: Russia 
Investment: Acquisition of Bauxite Mine (Rudnici boksita AD Podgorica) for USD 12.5 million

Investing Company: Beppler & Jacobson 
Country: England 
Investment: Acquisition of Hotel Avala for USD 15.2 million

Investing Company: Gradex HPB 
Country: Slovakia 
Investment: Acquisition of Rudnik coal mine for USD 12.7 million

Investing Company: Springer & Sons 
Country: Austria 
Investment: Acquisition of Hotel Panorama for USD 9.3 million

Investing Company: LB Leasing Ljubljana 
Country: Slovenia 
Investment: Greenfield investment in LB Leasing Podgorica of USD 10.1 million

Investing Company: Hypo Group 
Country: Austria 
Investment: Greenfield investment in Hypo Alpe Adria Montenegro of USD 15 million

Investing Company: OTP Bank 
Country: Hungary 
Investment: Acquisition of CKB bank for USD 134 million

Investing Company: PM Securities 
Country: Canada 
Investment: Acquisition of Arsenal for USD 4 million

Investing Company: Strabag AG 
Country: Germany 
Investment: Acquisition of Public Enterprise Crnagora put for USD 10.5 million

Investing Company: MN Specialty 
Country: England 
Investment: Acquisition of Steel factory Niksic for USD 6.5 million

Investing Company: Aman Resorts 
Country: Singapore 
Investment: Lease of HTP Budvanska Rivijera ("Sveti Stefan", "Milocer", "Kraljicina plaza") for USD 1.95 million per year for 30 years, following a first year payment of USD 2.1 million.

Investing Company: Telecom Serbia and Ogalar BV 
Country: Serbia and Holland 
Investment: Greenfield investment of USD 16 million

Investing Company: Balkan Energy 
Country: Greece 
Investment: Portfolio investment in Berane coal mine of USD 1.5 million

Investing Company: Petrol Bonus 
Country: Slovenia 
Investment: Acquisition of Montenegrobonus for USD 154.5 million (for six years)

Investing Company: BT International 
Country: Switzerland 
Investment: Acquisition of "4. Novembar" Mojkovac for USD 6.3 million

Investing Company: Intereuropa 
Country: Slovenia 
Investment: Portfolio investment in Zetatrans for USD 12.3 million

Investing Company: Morgan Invest 
Country: USA 
Investment: Portfolio Investment of Titex for USD 2.45 million

Investing Company: Platzer Leasing & Monte Mlin Sajo 
Country: Austria & Montenegro 
Investment: Acquisition of Hotel "Vila Oliva" for USD 3.5 million

Investing Company: Barkli SK 
Country: Russia 
Investment: Acquisition of Hotel "Otrant" for USD 2.5 million

Investing Company: Becovic Management Group 
Country: USA 
Investment: Acquisition of Hotel "Mediteran" for USD 1 million

Investing Company: Capital Estate 
Country: Russia 
Investment: Acquisition of Hotel "Grand Lido" for USD 10.8 million

Investing Company: HLT fund & Primorje Tivat 
Country: Slovenia & Montenegro 
Investment: Acquisition of Hotel "Centar Igalo" for USD 3.1 million

Investing Company: Hungest Hotels 
Country: Hungary 
Investment: Acquisition of Hotel "Topla" for USD 800,000

Investing Company: Hungest Hotels 
Country: Hungary 
Investment: Acquisition of Hotel "Centar" for USD 1 million

Investing Company: Beppler & Jacobson 
Country: England 
Investment: Acquisition of Bjelasica Ski center for USD 500,000

Investing Company: UNIQA International Beteiligungs 
Country: Austria 
Investment: Greenfield investment in UNIQA Montenegro of USD 3.2 million

Investing Company: Bolici Invest 
Country: Italy 
Investment: Greenfield investment in Hotel Bolici of USD 58.8 million

Investing Company: Royal 
Country: Belgium 
Investment: Greenfield investment in Royal Montenegro of USD 147 million

Investing Company: Egyptian investment fund 
Country: Egypt 
Investment: Greenfield investment of USD 73.5 million

Investing Company: MNSS BV 
Country: Holland 
Investment: Acquisition of Steel Mill of USD 58.8 million

Investing Company: Gintas Group 
Country: Turkey 
Investment: Greenfield investment in Mall of Montenegro of USD 58.8 million

Investing Company: Mercator Group 
Country: Slovenia 
Investment: Portfolio investment in Mercator Mex of USD 8.8 million

Investing Company: Lukoil 
Country: Russia 
Investment: Portfolio investment in Roksped of USD 39 million

Investing Company: Agrokor 
Country: Croatia 
Investment: Portfolio investment in Stampa of USD 2.2 million

Investing Company: Alstom 
Country: France 
Investment: Expansion of Niksicka Tehno Baza of USD 7.35 million

Investing Company: Delta 
Country: Serbia 
Investment: Greenfield investment in Delta City shopping mall of USD 86.9 million

Investing Company: A2A 
Country: Italy 
Investment: Acquisition of the Electric Power Company of Montenegro (EPCG) of USD 282.3 million

Investing Company: Orascom Development 
Country: Egypt 
Investment: Greenfield investment on Lustica peninsula of USD 14.7 million

http://translate.google.com/translate?hl=hr&langpair=en%7Chr&u=http://podgorica.usembassy.gov/investment_climate_monte_2010.html

2010 investicijske klime Izjava

A.1. Otvorenost prema stranim ulaganjima

Nedavni politički događaji:

Referendum o neovisnosti Crne Gore održan je 21. svibnja 2006, a 55,5 posto crnogorskih birača izabrala neovisnost od Srbije. Nezavisnost Crne Gore je dovelo do daljnjeg otvaranja tržišta i povećanje svijesti investitora i povjerenje.

Crnogorski Ustav ratificiran je i usvojen od strane Parlamenta Crne Gore na 19. listopada 2007.

Crna Gora i EU potpisali o stabilizaciji i pridruživanju (SSP) na 15. listopada 2007, jačanje crnogorske nade da postane punopravna članica Europske unije. Crna Gora i EU također potpisali takozvanu Privremeni sporazum (dopuštajući za rano provedbu trgovini i trgovinskim odredbe SSP) koji je stupio na snagu 1. siječnja 2008. Gotovo sve zemlje članice EU već su ratificirala SSP-a.

Crnogorski Zahtjev za članstvo u EU je podnesen na 15. prosinca 2008.

NATO je pozvao Crnu Goru da sudjeluju u Akcijskom planu za članstvo (MAP) na 4. prosinca 2009.

Vijeće ministara EU 'odluke u korist bezvizni režim za Schengen-zonezemalja za građane Crne Gore stupio je na snagu 19. prosinca 2009.

Crna Gora je odgovore na Upitnik Europske komisije o "Avis" Upitniku su predstavljeni na 9. prosinac 2009, a Vlada Crne Gore očekuje zemlja koja se dodjeljuje u EU status zemlje kandidata za članstvo u 2010.

Inozemna ulaganja:

Crna Gora je uspostavljanje liberalni ulaganja režim. Iako je i dalje tranzicija još nije eliminiran sve strukturne prepreke, Vlada prepoznaje potrebu da se uklone zapreke, reformu poslovnog okruženja, te otvoriti gospodarstvo stranog sudjelovanje. Odnos prema stranim investitorima je općenito povoljna.

Od osamostaljenja 2006, Vlada je usvojila liberalni investicijskog okvira za poticanje rasta, zapošljavanja i izvoza. Nema razlike su između domaćih i stranih tvrtki. Strane tvrtke mogu posjedovati 100 posto domaće tvrtke, a dobit i dividende ne moze biti vracen bez ograničenja ili ograničenja.

Strani investitori mogu sudjelovati u procesu privatizacije i mogu posjedovati zemlju u Crnoj Gori. Eksproprijacija imovine može dogoditi samo za "uvjerljiv javne svrhe", te naknada mora biti donesena na tržišnoj vrijednosti. Tu nije bilo poznato izvlaštenje stranog vlasništva.Međunarodna arbitraža je dopušteno u trgovačkim sporovima koji uključuju stranih investitora.

Registracija pojednostavljena u tolikoj mjeri da to traje samo jedan euro i četiri dana za obradu zahtjeva za registraciju poslovanja. Stečaj zakoni su bili moderniji kako bi ga lakše likvidirati tvrtku, računovodstveni standardi su doveli do međunarodnih normi, a običaj propisi su pojednostavljene. Nema mandatnim zahtjevi izvedbe.

Crna Gora je već privukla značajan interes od stranih investitora. Prema preliminarnim podacima, iznos inozemnih ulaganja za prvih devet mjeseci 2009 porastao za 6 posto tijekom cijelih dvanaest mjeseci 2008, unatoč globalnoj financijskoj krizi. Prema preliminarnim podacima iz promociju crnogorskog investicijskog Agencije, inozemna izravna ulaganja od siječnja do listopada 2009 dosegla 1,067 milijarde dolara (726.000.000 €), a njihova projekcija za cijelu godinu je za ukupnih izravnih stranih ulaganja figure negdje između 950 milijuna i 1 milijarde eura, povećanje od oko 40 posto u odnosu na 2008 ukupno.

Preko 4.700 stranom vlasništvu tvrtke su registrirani i posluju u Crnoj Gori, broj registriranih stranih tvrtki udvostručio u posljednje dvije godine. Strani investitori dolaze iz 86 zemalja, bez jedne zemlje dominira ulaganja. Do sada, najznačajnije investicije su došli iz Norveške, Austrije, Rusije, Mađarske i Velike Britanije. Po prvi put od 2006, najveći iznos izravnih stranih ulaganja - 65,1 posto - je koncentrirano u središnjem dijelu Crne Gore ove godine, s 28,4 posto usmjerena na južnoj regiji, a preostalih 6,5 posto, na sjeveru. Temelji se na posao stvaranja stranih investicija (tj. ne uključujući pojedinačne prometu nekretnina), sektorski slom izravnih stranih ulaganja za 2008 je kako slijedi: 28 posto svih ulaganja su u financijama, 22 posto u turizmu; 14 posto u građevinarstvu; 11 posto u uslugama, 10 posto u industriji, 5 posto u transportu i logistici, 2 posto u poljoprivredi, a preostalih 8 posto u drugim sektorima.

Prema Grupa Svjetske banke je "Doing Business 2010" izvješću (pokriva razdoblje od lipnja 2008 do svibnja 2009), Crna Gora je dobila najbolju ocjenu šest godina je pregledao. Crna Gora zauzela 71. najbolje od 183 ispitanih zemalja na sljedećim kategorijama: pokretanje poslovanja, Suočavanje s građevinskih dozvola, zapošljavanje radnika, registracija imovine; dobivanje kredita, zaštitu ulagača, plaćanje poreza, trgovanje preko granice, izvršenje ugovora, i zatvaranje poduzeća. Crnogorski najbolji rezultat (27. mjesto u svijetu) bio je za zaštitu ulagača; svom najgorem (160. mjesto) bio je za suočavanje s građevinskih dozvola.Najveći dobitak u odnosu na prošlu godinu bio na zapošljavanje radnika (do 47 mjesta, 93 - 46); najveći pad bio je kravata - kapi od šest mjesta na oba registracija imovine (pada 125-131) i plaćanje poreza (dolje od 139 do 145).

Svjetski gospodarski forum u Izvješće o globalnoj konkurentnosti 2009 - 2010, koja obuhvaća 133 zemalja, nalazi Crnu Goru 62. ukupno - tri pozicije veći nego u 2008. U usporedbi s drugim zemljama u regiji, Crna Gora rangirana iznad Hrvatske (72. mjesto), Makedonijom (84.), Srbija (93.), Albanija (96.) i Bosne i Hercegovine (109.). Od 12 faktora koji se koriste za sastavljanje rang, Crna Gora dobila najviše ocjene u zdravstvu, osnovnom obrazovanju i financijskog tržišta sofisticiranosti.Njegova najniže ocjene su u neučinkovitog državnog birokracije, nedovoljnog opskrbu infrastrukture, poslovni pristup financiranju, nedovoljno obrazovanu radnu snagu, korupcije, restriktivne rada propisa, poreza i regulacije.

Crna Gora je zabio 3,9 u Transparency International Indeksa percepcije korupcije 2009, smještajući ga drugi u regiji (iza Hrvatske.) 2009 Rezultati su pokazali značajno poboljšanje u odnosu na prethodnu godinu rezultat je 3,4 i svjetskom rangu 85. U The Heritage Foundation je 2010 Indeksu ekonomskih sloboda, Crna Gora dobila je ocjenu 63,6, ga svrstava kao "umjereno slobodne" i iznad svjetskog prosjeka. Njegov rezultat je bio poboljšanje 5,4 boda u odnosu na 2008, što je odraz značajne pomake u sedam od deset ekonomskih sloboda u obzir.Anketa urednici napomenuti da oštro poboljšana fleksibilnost tržišta rada i poboljšane regulatornog okruženja za ulaganja omogućena Crna Gora postići najveći porast ekonomske slobode među svim zemljama u 2010 Indeksu. 

Veliki investicijski mogućnosti:

Crna Gora nudi široku paletu mogućnosti ulaganja. Neki su jedinstvene turističke stranice (od kojih su mnogi bivši vojni ili druga državna svojstva), neki su veliki građevinski projekti (kao predloženih autocestama ili poboljšanja do željezničkog sustava), a neki su prilično složena (kao što su razne investicije mogućnosti unutar energetskog sektora.)

Turizam:

Velika Plaza - Smješten prvenstveno na državnom vlasništvu zemljišta između grada Ulcinja i Ade Bojane Island, Velika Plaza (13 km duga pješčana plaža s neometanim pogledom na Jadransko more) se nalazi na južnom rtu Crne Gore. To je 87 km od međunarodne zračne luke Tivat i oko 70 km od glavnog grada Podgorice. Planovi za postupni razvoj objektu uključuju: (i) razvoj high-end turističkih smještaja, (ii) izgradnja malog VIP zračne luke, (iii) poboljšanje telekomunikacija, učinkovit energije i vodom, i (iv) stvaranje obalnog područja zaštite (. omogućuje do 100 četvornih metara zelene površine po krevetu kako bi se osigurao smještaj luksuznih turističkih) Tijekom pretkvalifikacijom procesa, nježne pisma namjere podnijeli su četiri tvrtke: Proofrock ulaganja (grčki / američka tvrtka); Hydra Properties i Bloom International Properties (oba iz Ujedinjenih Arapskih Emirata) i Trigranita (iz Mađarske.)

Ada Bojana Otok - Smješten na najjužnijem dijelu Crne Gore. Najbliža međunarodna zračna luka nalazi se u Podgorici (85 km), dok Tivat International Airport je 108 km daleko. 494 hektara otok je flankiran na obje strane strane rijeke Bojane, povezuje izravno Skadarskog jezera i Jadranskog mora na treće strane. Zbog site-jedinstvenom prirodnom okruženju i osamljenom privatnom okruženju, Vlada predviđa konfiguraciju i rad ekskluzivni 4 - 5-star hotel / resort / selu kompleks, odražavajući suvremenu crnogorsku arhitekture, uključujući i rekreacijskih sadržaja i usluga. Master plan za Adi Bojani predviđa kapacitet do 2.500 hotelskih kreveta u trenutnom području određenom za razvoj turizma, a Vlada očekuje da hotelsko naselje, jednom razvijen, će biti uvrštene u međunarodnom ugostiteljstvu kao top prirode naselju.Devet tvrtki, uključujući i dva iz SAD-a, poslali pisma namjere u državnom natječaju za iskazivanje interesa u 2008.

Otok Mamula - Mamula, na granici s Hrvatskom, predstavlja popularni jednodnevni odredište putovanja. Otok, dostupan samo brodom, ima kružni oblik (200 metara u promjeru) i obalu koja se sastoji od stjenovite površine sa malom dijelu plaže. Tvrđava se nalazi na Mamula trenutno nema smještaj, hranu, piće, ili butik usluge. Koncept razvoja uključuje luksuzni hotel s ekskluzivnim slobodno vrijeme, pripreme i usluživanja hrane i wellness sadržaje, i vezova za male i srednje veličine jahti. Vlada Crne Gore preferira javno-privatnog partnerstva (JPP) model za tu lokaciju.

Jaz Beach - Smješten je u središnjem dijelu crnogorske obale, između gradova Budve i Tivta. Planovi za razvojnog centra na urbanom razvoju koncepta, uključujući i naselje složenih nude smještaj, mirovina, vode sportski centar, wellness sadržaje, hrane i pića uslugama, itd. poljima i obroncima Jaz mora biti pregledana kako bi se utvrdilo točno dostupan područje. The Rolling Stones, Madonna i Lenny Kravitz sve koncertira na plaži Jaz u 2007 i 2008.

Buljarica Plaža - Smješten između gradova Bara i Budve. Zemljište je uglavnom privatno, ali većina vlasnika su članovi lokalnog zemljoposjednici udruge koja je zainteresirana u stvaranju joint venture s potencijalnim strateškim partnerima koji sudjeluju kao dioničara partnerima. Koncept razvoja uključuje high-end stambenih smještaj, 4-5 zvjezdica, i turističko naselje - sve u ukupnom iznosu do 6.500 kreveta.Marina Također je planirano, kao što je poslovni centar i 18-rupu golf.

Bigovo - Bigovo Uvala se nalazi na poluotoku između gradova Budve i Tivta, u susjedstvu povijesnog ribarskog sela. Tu je lako zraka pristup objektu preko Tivat International Airport, samo 20 kilometara od stranice. U međunarodne zračne luke u Podgorici (90 minuta) i Dubrovnik (90 minuta) pružiti dodatne pristup. Stranica obuhvaća 38.940 četvornih metara zemljišta, s razonodu, trenutno na 2.873 četvornih metara.Planiranje je u usponu fazi, ali ideje za postupni razvoj Bigovo su motiv luksuz slobodno vrijeme koriste - i održavanju - u prirodi.

Kumbor - Kumbor, turističko naselje na Herceg Novom rivijere, nalazi se na obalama Boke Kotorske, 6 km od grada Herceg Novog. Postoji niz malih plaža i restorana na rivi. Rano planiranje ideje za postupni razvoj uključuje izgradnju svjetske klase, višenamjenske upscale turizma naselju, kao i 4-5 zvijezda nautičke i komercijalne sadržaje s razonodu.

Valdanos - Valdanos nalazi se u neposrednoj blizini Ulcinja, jugoistočno od Bara. Ovaj bivši vojni kamp za odmor, okružena maslinama, nudi nesmetan ocean prednji pogled i bez premca privatnost. Zračne luke su 68 km (Podgorica) i 86 km (Tivat) daleko. Valdanos Bay obuhvaća četiri četvorna kilometra, a uključuje šljunčanu plažu od oko 100 metara u dužinu i razne niske ustati logoru i općih javnih službi objekata, odnosno teniskih terena i parkiralištima. Konceptualni okvir uključuje pet zvjezdica, za zaštitu obalnog područja dozvoljava do 100 četvornih metara zelene površine po krevetu, luksuznih turističkih smještaja od najviše četiri kata, te zaštita ekološke strukture području. Vlada Crne Gore prije svega zanima javno-privatnog partnerstva (JPP) projekata. 

Hotel Park - Hotel Park se nalazi na obali Boke Kotorske u Herceg Novom, 10 km od zračne luke Tivat i 30 km od zračne luke Dubrovnik.Objekt je sagrađen u 1975 i služio je kao turističke hotel do 2002, kada je pretvoren u dom za rekreativne i profesionalne ronioce. Hotel ima 51 sobe, svaka s balkonom s pogledom na more.

Mediteran - Ovo turizam kompleksu se nalazi unutar Nacionalnog parka Durmitor u Žabljaku, 1456 metara iznad razine mora. Iako ima izravan pristup asfaltiranu cestu, lokacija budi osjećaj izolacije i povezanosti s prirodom. To je u susjedstvu poznate Crnog jezera i potpuno je okružena borovom šumom. Pogledi iz stranice su šume i planine.Namjera je stvoriti svjetske klase naselje koje je intimno u osjećaju, kao i konceptualno, estetski, funkcionalno i ekološki u skladu s prirodnim okolišem koji okružuje imovine.

Infrastruktura:

Autoceste - Crnogorska ministarstva pomorstva, prometa i telekomunikacija potpisao javno-privatnog partnerstva ugovor u 2009 s hrvatskom tvrtkom Konstruktor za projektiranje, financiranje, izgradnju, upravljanje i održavanje novog autoputa izvodi iz grada Bara na Crnogorska obala s Boljare na sjevernoj granici sa Srbijom. Konstruktor je trenutno u procesu osiguravanja financiranja predviđen u ugovoru.Osim toga, Vlada Crne Gore planira razviti potrebnu dokumentaciju za 105 km Jadransko-jonske autoceste (također se naziva istok-zapad koridor) koji će povezati hrvatske i albanske dijelove iste autoceste.

Željeznička - Vlada Crne Gore provela je nedavno plan restrukturiranja pod kojima željeznice Crna Gora je podijeljena u tri zasebna poduzeća: jedan koji će biti zadužen za razvoj i održavanje željezničke infrastrukture i regulacije prometa, drugi koji će nositi prijevoz putnika , a trećina koja će nositi teret operacije. Infrastruktura za upravljanje i regulacija prometa ostat će stanje pod kontrolom, a zajedničko ulaganje sa strateškim partnerom će se tražiti za održavanja infrastrukture na temelju dugoročnog ugovora s Vladom. Privatizacija je planiran za operacije strani tijekom 2010.

Prijevoz i logistika:

Crna Gora Airlines - Osnovan prije 15 godina, Crna Gora Airlines je registrirana za domaći i međunarodni promet putnika i najma, kao i za prijevoz tereta i pošte. Tijekom posljednjih 10 godina, Crna Gora Airlines je povezan Crnu Goru sa Frankfurtu, Zurich, Pariz, Rim, Beč, Ljubljana, Moskva, London, Milan, i Beograda. Više od tri milijuna putnika su prevezli do danas. Srpnja 2008 skupštinu dioničara odlučili da se presele iz LLC u dioničko društvo, kao i nastaviti s novom emisijom dionica, što predstavlja 30 posto od trenutne vrijednosti tvrtke. Konzultantska tvrtka SH & E je odabrana kao savjetnika za privatizaciju. Tvrtke iz Rusije, Velike Britanije, Izraela i već su pokazali interes. Predstavnici Montenegro Airlines su izjavili da je Europska banka za obnovu i razvoj je također zainteresiran za zrakoplovne tvrtke. Crna Gora Airlines je izvorno uključena u 2009 plana privatizacije, ali proces je odgođen za 2010 zbog dugotrajna posljedica globalne ekonomske krize.

Luka Bar / Luka Bar - Luka Bar se širi preko 200 hektara. Ukupna dužina operativne obale je 3,5 km, s maksimalnom dubinom od 14 metara i 120 tisuća četvornih metara sigurnim skladišta. Postoji pet specijaliziranih terminala u luci (putnički promet, generalni teret, kontejnere, krutim i tekućim skupno), a maksimalni kapacitet je oko pet milijuna tona. Vlada posjeduje 54 posto ukupnih dionica, dok je preostali udio podijeljen između Državnog fonda za privatizaciju (16 posto), radnika (11 posto), građani (18 posto) i druge pravne osobe (1 posto). Luka zapošljava 1.371 radnika. Luka Bar će biti privatizirana prema stanodavca modelu koji se koristi u većini europskih luka, sa gospodarskim aktivnostima privatizirati ili dati na koncesiju, a infrastruktura ostaje u državnom vlasništvu. Kamate u luci Bar je jaka za dugo vremena. Državni Savjet za privatizaciju, glavni Vlada tijelo zaduženo za privatizaciju, je radio s lukom rukovodstva reorganizirati poslovanje i podijeliti tvrtku u pet cjelina, od kojih četiri će biti za nadmetanje.

Bijela Brodogradilište - brodogradilište, osnovan 1927, je najveći brod-popravak i rekonstrukcija dvorište u južnom Jadranu. Neuspješni natječaja za brodogradilišta najavili su nekoliko puta do sada, a prema planu, bit će objavljen opet u prvom tromjesečju 2010.

Energija:

Greenfield investicija u hidroelektrane na rijeci Morača - Vlada Crne Gore namjerava razviti zemlje netaknuto hidroenergetski potencijal kroz javno-privatnog partnerstva. Kao prioritetni projekt, Vlada želi razviti rijeka Moraca potencijal kroz niz od četiri hidroelektrane-elektrana proizvodnih ukupno 238 megavata (MW) i godišnje proizvodnje od 693 gigawatt sati (GWh). Opsežna geotehnička i hidrološka istraživanja već provedena kako bi se pripremiti tehničku dokumentaciju. Pravna due dilligence, detaljni prostorni plan, a strateški okoliša procjene je završena u veljači 2009. Zainteresirane stranke mogu zatražiti da se izjasni o podacima iz postojećih tehničkih dokumenata i proizvoditi bolje dizajnerske prijedloge za razvoj projekta. Pre-kvalifikacija natječaj je planiran kao sljedeću fazu nadmetanja. Iskazivanje interesa natječaja pristiglo je u prosincu 2008, a 13 tvrtke su iskazali namjeru sudjelovati u stvarnoj natječaja koji će biti objavljen početkom 2010. Dizajn / građevina (DBOT) natječaji za niz malih hidroelektrana također će biti izdana u 2010.

Proizvodnja:

AD Plantaze - Plantaze je najveći proizvođač vina i stolni grožđa u cijeloj regiji, a tržišni lider u proizvodnji vina na Balkanu. Proizvodni kapaciteti uključuje vinograd površine 2.200 hektara (najveći u Europi), dvije konobe s ukupnim kapacitetom od 250.000 hektolitara, 97 hektara voćnjaka breskve, ribnjakom s godišnjom proizvodnjom od 120 tona pastrve u Kaliforniji, 3.000 tona hladno kapacitet memorije, malo objekti i ugostiteljsko-ugostiteljskih objekata. Privatizacija strategija i proces privatizacije će biti spreman i najavio tijekom 2010.

Broj američkih tvrtki već posluje u Crnoj Gori, a Vlada Crne Gore je stavio naglasak na privlačenje više američku investiciju.

- Philip Morris International otvorila poslovnicu u Crnoj Gori u svibnju 2007. Osnovna djelatnost ureda je uvoz i distribucija proizvoda Philip Morrisa u crnogorskom tržištu.

- Coca-Cola HBC (Hellenic Bottling Company), jedna od najvećih svjetskih punionica Coca-Cola proizvoda, djeluje i distribuira svoje proizvode u Crnoj Gori za više od jednog desetljeća.

- Datacard Grupa osvojio Vlade Crne Gore / Ministarstvo unutarnjih poslova natječaja za nabavu sustava za izdavanje putovnica i nacionalne identifikacijske dokumente. Vrijednost ugovora, potpisan je u srpnju 2007, je 8.725.725 €. Izdavanje novih biometrijskih putovnica crnogorskih započeo je u proljeće 2008.

- Microsoft je službeno otvorio svoj ured u Crnoj Gori svibnja 2007 tijekom Podgorici konferenciji čiji je cilj predstaviti tvrtke najnovije tehnologije i proizvode. Softverski div već surađuje s Vladom Crne Gore i lokalnim partnerima na različitim projektima (software legalizacija, e-vlada, i IT modernizacije državnih institucija), a potpisao je novi strateški partnerski ugovor s GOM na 18. prosinca 2008.

- Oracle potpisali strateški partnerski ugovor s Vladom Crne Gore o istom danu, a ova dva sporazuma će omogućiti kupnju i korištenje Microsoft i Oracle licence i softver po Gom, državnih agencija, općinske službe i poduzeća u državnom vlasništvu .

- Becovic Management Group (BMG) kupili nekretninu Hotel Mediteran u srpnju 2005 iz državnom kontrolom hotelu / putnička tvrtke "Ulcinjska rivijera" (UR) za 940.000 €. BMG namjerava preraditi nekretninu u prvi razred obalnom mjestu naselju, uz mješovite namjene naselja i zabava komponenti. Ukupna vrijednost investicije je 6.000.000 €.

- Mediji Development Loan Fund (MDLF) kupio 25 posto dionica Daily Press, izdavač gornjem dnevnim novinama "Vijesti". MDLF je s obzirom na kupnju dodatnih dionica, ali su lokalni vlasnici trenutno samo će prodati najviše 40 posto dionica Vijesti MDLF.

- Morgan Invest kupio 38 posto dionica tvornice tekstila TITEX u Podgorici za 2.450.000 €. Američka tvrtka kupila dionice u stečaju tvornice iz slovenske tvrtke Novus, koji su plaćene 538.000 € za njih u 2004.

- Američko tvrtka GoDaddy uspješno osvojio je svoju ponudu da postane agent za registraciju domene za nacionalni internet domeni Crne Gore GoDaddy će raditi za pet godina, s mogućnošću produljenja tog pojma (Nova internetska domena "ME"..).

U cilju daljnjeg razvoja komercijalnih odnosa između SAD-a i Crne Gore, prvi Američka gospodarska komora u Crnoj Gori je pokrenuta na 19. studenoga 2008. AmCham Crna Gora služi kao vodeći zagovornik američke, kao i drugim stranim poduzećima u Crnoj Gori.

Edin Seferović, vd izvršni direktor 
Američka gospodarska komora u Crnoj Gori 
Kralja Nikole 27a / 4 
81000 Podgorica, Crna Gora 
Tel / Fax: 382 20 621 628 
Web stranica: http://www.amcham.me/

Američko-Crna Gora Poslovni Vijeće je svečano otvoren u Podgorici 16. prosinca 2008. U Vijeća misija je promicanje izvoza i ulaganja između SAD-a i Crne Gore. Osim toga, kroz svoje sestre ureda u SAD-u, Vijeće će nastojati potaknuti američke investitore da uče o prilikama u Crnoj Gori, kao i da pomogne Crnoj Gori tvrtke explore poslovne prilike u SAD-u također, kao dio strateškog partnerstva između Crne Gore i država Maryland, Vijeće ured u Podgorici će također poslužiti kao trgovačko Maryland državnog ureda.

Vijeće je najavio da će početi nude poseban program za crnogorskih poduzeća iz siječnja 2010 koja će im omogućiti da se utvrdi braches u državi Maryland besplatno, s Vijećem pokrivaju set-up troškove.

Svetlana Vukčević, izvršni direktor 
SAD - Crna Gora poslovni savjet 
Jovana Tomasevica 2 
81000 Podgorica, Crna Gora 
Tel / fax: 382 20 245 564 
Web stranica: http://www.usmnebc.org/  

U cilju bolje za promicanje ulaganja i potaknuti gospodarski razvoj, Vlada Crne Gore osnovala poticanja ulaganja crnogorsku agenciju (MIPA) sredinom 2005. Ona traži da se oglašavati Crnu Goru kao natjecateljski investicijskog odredišta aktivno olakšavanje investicijskih projekata u zemlji.

Upiti o mogućnostima ulaganja u Crnoj Gori može biti usmjerena na:

Petar Ivanović, direktor 
Crnogorska agencija za promicanje ulaganja (MIPA) 
Jovana Tomasevica 2 
81000 Podgorica, Crna Gora 
Tel / fax: (382 20) 203 140, 203 141, 202 910 
Web stranica: http://www.mipa.co.me/ . 
E-mail: info@mipa.co.me

Crna Gora je donijela određene zakone skicirajući jamstva i zaštitne mjere za strane investitore. Crnogorski ministar vanjskih ulaganja Zakon (ratificiran u studenom 2000) uspostavlja okvir za ulaganja u Crnoj Gori.Zakon eliminira prethodne investicijskih ograničenja, proteže nacionalni tretman stranih ulagača, omogućuje prijenos / repatrijaciju profita i dividendi, daje jamstva protiv izvlaštenja, a omogućuje carina waivers za opremu uvozi kao glavnog-u naturi.

Crna Gora je također donijela više od 20 drugih poslovno-srodne zakone, a sve u skladu sa standardima EU. Glavni zakoni koji reguliraju stranih ulaganja u Crnoj Gori: Inozemna ulaganja Zakon; Enterprise Zakon; Stečajni zakon, Zakon o fiducijarni prijenos vlasništva; Zakon o računovodstvu, Zakon o kapitalnim i tekućim transakcijama; Vanjskotrgovinska Zakon; Carinski zakon, Zakon o slobodnim zonama; Zakon o radu, Zakon papiri, koncesijski Zakon, i set zakona koji reguliraju poreznu politiku.

Crna Gora je ostvarila značajne korake u oba izmjeni investicija vezanih zakonodavstva u skladu sa svjetskim standardima i stvaranje potrebnih institucija za privlačenje ulaganja. Međutim, kao što je slučaj s drugim tranzicijskim zemljama, implementacija i provedba postojećeg zakonodavstva ostaje problem.

A.2. Pretvorba i prijenos Pravila 

Inozemna ulaganja Zakon jamči pravo na prijenos i repatrijaciju profita u Crnoj Gori.

Crna Gora koristi euro kao domaću valutu. Nema poteškoće u slobodnom transferu sredstava ostvaruju na temelju dobit, povrat sredstava, ili zaostalih imovine.

A.3. Izvlaštenje i naknada

Crna Gora pruža pravne zaštite protiv izvlaštenja. Zaštite se kodificirani u nekoliko zakona donesenih od strane vlade. Nije bilo slučajeva izvlaštenja stranih investicija u Crnoj Gori. Međutim, Crna Gora ima izuzetne zahtjeve koji se odnose na imovinu nacionaliziranu pod Socijalističke Federativne Republike Jugoslavije.

Na 23. ožujka 2004, Crna Gora je donio novi Zakon o restituciji.Potrebne sub-djela stupio na snagu 1. siječnja 2005, i Povrat fond (koji će pružiti novčanu naknadu kada je to potrebno) nastao je 1. ožujka 2005. Osnovna restitucije politike u Crnoj Gori je restitucija u naturi kada je to moguće, a novčana naknada ili zamjena drugog državnog zemljišta kada fizički povratak nije moguć.

Na kraju kolovoza 2007, Sabor je donio novi Zakon o restituciji koji zamjenjuje 2004 Zakon. U skladu s novim zakonom, tri pregledni povjerenstva su formirane: jedan u Baru (obuhvaća obalno područje), jedan u Podgorici (za središnjem dijelu Crne Gore), i jedan u Bijelom Polju (za sjevernu regiju Crne Gore.)

Crna Gora pruža zaštitu od izvlaštenja akcija kroz stranih ulaganja zakona. Članak 29. navodi da vlada ne može oduzeti imovinu stranog ulagača, osim ako postoji "uvjerljiv javne svrhe" osnovana zakonom ili na temelju zakona. Ako izvlaštenje je pogubljen, naknada mora biti osigurana po fer tržišnoj vrijednosti plus jedne baznih poena iznad LIBOR stope za razdoblje između izvlaštenja i datum isplate odštete.

A.4. Rješavanje sporova

Post nije svjestan kakvu investicijskih sporova koji uključuju američke tvrtke ili drugih stranih investitora u Crnoj Gori.

Pravni sustav:

Crnogorski Zakon o sudovima definira pravosudni sustav koji se sastoji od tri razine terena: Bašić, superior, a Vrhovni sud. On također uspostavlja dva terena - Apelaciono i upravnih sudova (osnovan 2005) - s posebnim nadležnosti za komercijalne poslove.

Osnovni sudovi ostvariti izvornu nadležnost nad građanskim i kaznenim predmetima. Postoji 15 tereni za crnogorskih 21 općina. Dva Superior Sudovi u Podgorici i Bijelom Polju ima prizivnu pregled općinskih sudskih odluka. Viši sudovi također odlučuju o nadležnosti sukoba između općinskih sudova.

Dva trgovačkih sudova (koji također obrađuju ekonomske zločine) utvrđeni su u Podgorici i Bijelom Polju. Oni imaju nadležnost u sljedećim pitanjima: plovidba, navigacija, zrakoplova (osim prijevoza putnika), prava intelektualnog vlasništva, stečaj, i nepoštene trgovinske prakse.Viši sudovi žalbama Osnovnog suda odluka, a Superior Sudske odluke može se uložiti žalba Vrhovnom sudu. Vrhovni sud je sud pravomoćnom presudom za sve građanske, kaznene i administrativne slučajevima.

Trgovački sud sustav suočava s izazovima, kao što su uvođenje novih zakona i izmjena postojećih zakona; razvija novi sustav poslovanja, uključujući i elektroničke komunikacije s klijentima, te nedostatak kapaciteta i stručnosti među sucima. Neki prijedlozi za reformu su uključeni stvaranje Visokog trgovačkog suda ili dodjeljujemo komoru Vrhovnog suda da komercijalne slučajevima. Neki suci također su predložili određivanje određeni sud s dodijeljenom nadležnosti za pojedina područja, kako bi se pojednostaviti caseloads i razviti specijaliziranu stručnost za komplicirane gospodarskih kaznenih djela / pitanja.

Zakonodavno okruženje je značajno promijenila više od 20 poslovnih zakoni su usvojeni. Cilj je bio ukloniti prepreke za poslovanje u Crnoj Gori, a za privlačenje stranih investitora.

- Zakon Poslovni organizacija, koja je usvojena 2001, pojednostavila procedure za početne registracije tvrtki, trenutno samo 1 € i četiri dana su potrebni za registraciju LLC u Crnoj Gori. Prema istraživanju OECD-a, Crna Gora ima najniži prepreka za početno registraciju poslovanja u regiji. U skladu sa ovim zakonom, Središnji registar Trgovačkog suda osnovan, i online pretraživanja za tvrtke koje su registrirane u Crnoj Gori su sada moguće.

- Zakon Poslovni Stečajni, usvojena u 2001, pojednostavljen je postupak za tvrtke insolventnosti. Zakon propisuje nesolventnih tvrtki s tri opcije: dobrovoljni likvidacije; restrukturiranja; ili stečajnom postupku.Duljina stečajnog postupka je rezati, a to je lakše likvidirati tvrtku.

- Računovodstvo i revizija Zakon je donio međunarodne standarde u crnogorskoj računovodstva i revizije sustava. Institut za računovodstvu i reviziji osnovan je kao samostalna institucija za nadzor cijeli proces, te je zadužena za davanje licenci i dozvola za računovođe i revizore.

- Crnogorski parlament usvojio zakon o tržišnom natjecanju, koji je stupio na snagu 1. siječnja 2006, a smatra se poboljšanje u investicijske klime u Crnoj Gori kao što pruža pravnu osnovu za tržišno natjecanje na tržištu i stavlja neke propise o monopola.

- Zakon o sudjelovanju privatnog sektora u javnim službama, usvojena u 2002, omogućuje privatnim tvrtkama da sudjeluju u javno-privatnih partnerstava putem leasinga, upravljanje ugovorima, build-operate-transfer dogovori (BOT), i koncesije.

- Carinski zakon, u skladu sa Svjetskom trgovinskom organizacijom i zahtjevima Europske unije, uveden je u Crnoj Gori u 2003. Zakon pojednostavljuje uvozno-izvozne postupke, koji bi trebao povećati međunarodne trgovinske tokove.

- Set poreznih zakona proveden je u 2003 i uveo porez na dodanu vrijednost (17 posto), koji je zamijenio prodaje i porez na promet. PDV je pojednostavljen porezni sustav i osigurava značajan iznos proračunskih prihoda.

- Krajem travnja 2004, Sabor je donio Zakon vanjsku trgovinu. Zakon smanjuje barijere za poslovanje i izvršavanje vanjskotrgovinskih poslova, te je u skladu s WTO-ovim standardima. Međutim, zakon još uvijek daje prostora za restriktivnih mjera i diskrecijski državnog uplitanja. Osim toga, zakon se čini da se više o zaštiti proizvođače, a ne potrošača - koji plaćaju stvarne troškove zaštite na kraju.

- Novi Zakon o radu usvojen je u srpnju 2008. To definira jedan kolektivni ugovor za obje javnog i privatnog sektora, održava postojeću razinu otpremnina (tj. prosjek u posljednjih šest mjeseci plaće), i zadržava sadašnji 365 dana dopuštenog porodiljni dopust. Osim Zakona o radu, pitanje rada na bazi odnosa također je definiran u Općeg kolektivnog ugovora, Podružnica razine kolektivnih ugovora, te s individualnim radnim ugovorima između poslodavca i zaposlenika.

- Novi koncesijski Zakon je usvojen u veljači 2009 i stvorili povoljne uvjete za dobivanje i korištenje koncesija licence. Zakon također regulira uvjete i procedure za dobivanje koncesije za iskorištavanje prirodnih resursa, korištenje imovine u javnoj domeni, i / ili provoditi aktivnosti od općeg interesa. Koncesija Zakon je temeljno za potporu javno-privatnog partnerstva proces kroz koji broj budućih projekata će biti realiziran u Crnoj Gori.

Također usvojen je u posljednjih pet godina bili su Zakon o Centralnoj banci, Zakon o zavjeti (koji predviđa polaganje kaucije osobne imovine kao osiguranje za neki dug ili angažmana), Zakon o udarima, elektroničkom potpisu Zakon i Zakon o slobodnim zonama. 
Rješavanje sporova u nadležnosti nacionalnih sudova, ali to također može pasti pod vlast međunarodnim sudovima, ako ugovor tako odredi, što znači da je Crna Gora dopušta mogućnost međunarodne arbitraže.Razne strane tvrtke imaju i druge bilateralne i multilateralne organizacije - kao što MIGA-om (Svjetska banka), Opić (SAD), ECGD (Velika Britanija), Sid (Slovenija), SACE (Italija), Coface (Francuska), i OEKB (Austrija) - - pružanje rizika osiguranja protiv rata, eksproprijacija, nacionalizacija, konfiskacija, inconvertibility dobiti i dividende, a nemogućnost prijenosa valutu.

A.5. Izvedbeni zahtjevi i poticaji

Vlada ne nameće nikakve zahtjeve izvedbe kao uvjet za uspostavu, održavanje, ili širenje ulaganja.

Ograničeni poticaji su ponuđena stranim investitorima, na primjer, vlada nudi duty olakšica za uvezene opreme.

A.6. Pravo na privatno vlasništvo i Uspostava

U Crnoj Gori, inozemni investitor, strane tvrtke, ili strani državljanin može steći imovinu. Članak 12. crnogorskog stranih ulaganja Zakonom izričito dopušta stranim investitorima za kupnju nekretnine putem ugovora. Ovo pravo izričito je pojačana Zakona o vlasništvu i Zakon odnosima. Zakon navodi da strane osobe i tvrtke mogu, na temelju uzajamnosti, stjecati prava na nekretninama, kao što su tvrtke objekata, mjesta poslovanja, apartmani, dnevni prostori, zemljišta za gradnju. Osim toga, strane osobe mogu tvrditi imovinskih prava na nekretninama nasljeđivanja na isti način kao i domaći državljanin.

A.7. Zaštita imovinskih prava

Hipoteke / Osigurani transakcije:

U srpnju 2002, Crna Gora donijela svoj Zakon o osiguran promet i uspostavio kolateralnu registar kod Trgovačkog suda u svibnju 2003.Registru u operativne smjernice su izrađeni i odobreni od strane Trgovačkog suda. Glavni cilj Zakona o osiguran promet je uspostaviti jasan i transparentan okvir.

U kolovozu 2004, Crna Gora je usvojila novi Zakon o hipoteka kojim nepokretna imovina može biti otežan sigurnosti interesa (hipoteka) kako bi osigurali zahtjev za korist vjerovnika koji je ovlašten, na način propisan zakonom, zahtijevati zadovoljstvo njegove tvrdnje foreclosing mortgaged imovine s prioritetom nad vjerovnicima koji nemaju hipoteku stvorena na tom objektu, kao i nad bilo naknadno registrirana hipoteku, bez obzira na promjene u vlasnika opterećenom nepokretne imovine.

Prava intelektualnog vlasništva:

Stjecanje i raspolaganje prava intelektualnog vlasništva su zaštićeni Zakonom o izvršenju prava intelektualnog vlasništva, koja je stupila na snagu 1. siječnja 2006. Zakon predviđa novčane kazne za pravne osobe u iznosu do 30.000 € za prodaju piratskih i / ili krivotvorenih roba. Ona također pruža ex officio ovlasti za tržišne inspektore u područjima navedenim. U travnju 2005, crnogorski parlament je donijela Uredbu o (TRIPS) Granične mjere koje pruža ovlasti običaj vlastima da se obustavi postupak carinjenja i iskoriste piratske i krivotvorene robe.

Crnogorski Kazneni zakon priznaje kršenje svih prava intelektualnog vlasništva, omogućava ex officio progon, a predviđa strože krivičnih kazni. Zakon o optičkih diskova usvojen u prosincu 2006, ona zahtijeva registraciju poslovne djelatnosti kada reproducira optičke diskove za komercijalne svrhe i osigurava nadzor optičkih diskova uvoza i izvoza, a uvoz i izvoz polikarbonati (materijal koji se koristi u proizvodnji optičkih diskovi) i oprema za proizvodnju optičkih diskova.

Od stjecanja neovisnosti 2006, nadležna tijela (Ministarstvo kulture i medija, Ministarstvo za europske integracije, kao i razne udruge) su počeli raditi na uspostavljanju institucionalnog i regulatornog okvira za zaštiti intelektualnog vlasništva. Crna Gora postala članica WIPO-u prosincu 2006. Crnogorski zavod za intelektualno vlasništvo (IPO) službeno je otvoren 28. svibnja 2008. Trenutno zapošljava 14 iz 22 planiranog osoblja i već je postavio temelje za formaliziranje suradnje s drugim IPO u regiji. Propis o priznavanju prava intelektualnog vlasništva usvojen je u rujnu 2007. Prema ovom propisu, sva prava registrirana s Union zavoda za intelektualno vlasništvo ili sa srpskom zavodu za intelektualno vlasništvo i bilo neriješenih prijava podnesenih s tim uredima prije 28. svibnja 2008 su ovršne u Crnoj Gori. Bilo IPR prijava podnesena nakon tog datuma u Srbiji će morati biti ponovno dostavljen u Crnoj Gori roku od šest mjeseci, kako bi zadržali svoj stečena prednost.

IPR tržišni inspektori, policajci, carinici, i djelatnici Ministarstva gospodarstva prisustvovao veliki broj seminara o zaštiti intelektualnog vlasništva i krivotvorenja, uključujući radionice provođenje prava intelektualnog vlasništva pod pokroviteljstvom Američke gospodarske komore u prosincu 2009. Na kraju 2007, Carinska uprava potpisali su Pismo namjere za prihvaćanje SECURE (standardi biti zaposlen od strane carine za jedinstvenu prava ovrhe), usvojenom od strane Svjetske carinske organizacije (WCO) s ciljem efikasnije zaštite intelektualnog imovinska prava autora carinskih organa.

Od 2002, suci Trgovačkog suda u Podgorici su sudjelovali u relevantnim seminarima organiziranim kako u Crnoj Gori i inozemstvu (SAD, Bugarska, Makedonija, Bosna i Hercegovina, Hrvatska, Italija i Srbija.)

Kako bi se dodatno poboljšati situaciju zaštite intelektualnog vlasništva AmCham Crne Gore uspostavila prava intelektualnog vlasništva odbor u travnju 2009. Glavni cilj Odbora je da blisko surađuju s crnogorskim institucijama koje se bave odnosima s javnošću, povećati svijest javnosti o važnosti zaštite intelektualnog vlasništva, te da pomogne GOM ojača svoje administrativne kapacitete u ovoj oblasti.

Crna Gora nije na Posebnom 301 Pogledajte listu. U praksi, međutim, provođenje prava intelektualnog vlasništva je slaba i nedovoljna.Prodaja piratskih optičkih medija (DVD, CD, softver), kao i krivotvorene robe zaštićeni, osobito tenisice i odjeću, je široko rasprostranjena.Izvršenje Polako se popravlja kao carini, policiji i pravosudnim tijelima pribaviti potrebne alate, ali institucionalni kapacitet još uvijek ograničena.

Općenito, daljnji napredak još uvijek treba biti na zaštitu prava intelektualnog vlasništva, osobito s obzirom na još uvijek ograničenim institucionalnim i ovršni kapaciteta i niske razine javne svijesti.

Međunarodni ugovori:

Bivši državni savez Srbije i Crne Gore ratificirao mnoge konvencije i sporazume. Valja napomenuti da je u svojoj deklaraciji o neovisnosti Crne Gore navedeno: "Republika Crna Gora će se primjenjivati ​​i preuzeti međunarodnih sporazuma i ugovora koje su sklopile Državnog unije, a koji su u skladu sa sustavom crnogorskog pravosuđa."

Sljedeći konvencija i sporazuma u području intelektualnog vlasništva su potpisani i nastavio s provedbom nakon neovisnosti:

·         Konvencija o osnivanju Svjetske organizacije za intelektualno vlasništvo (1967) [član od 1. listopada 1973];

·         Pariška konvencija za zaštitu industrijskog vlasništva (1883) [Član od 26 veljače 1921];

·         Bernska konvencija za zaštitu književnih i umjetničkih djela (1886) [član od 17. lipnja 1930];

·         Madridski sporazum o međunarodnoj registraciji žigova (1891) [Član od 26. veljača 1921];

·         Protokol koji se odnosi na Madridski sporazum o međunarodnoj registraciji žigova [član od 19. veljače 1997];

·         Ugovor o suradnji (1970) [član od 1. veljača 1997];

·         Haški sporazum o međunarodnoj depozit od industrijskog dizajna (1925) [članicu od 30. prosinac 1993];

·         Univerzalni Copyright Konvencija (1952) [član od 1966];

·         Lijep sporazum o međunarodnoj klasifikaciji roba i usluga za potrebe registraciji žigova (1957) [Član od 30. kolovoz 1966];

·         Locarno Agreement Establishing an International Classification for Industrial Designs (1968) [member since October 16, 1973];

·         Convention Relating to the Distribution of Program-Carrying Signals Transmitted by Satellite (1974) [member since August 25, 1979];

·         Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure (1977) [member since February 25, 1994];

·         Trademark Law Treaty (1994) [member since September 15, 1998];

·         Lisbon Agreement for the Protection of Appellations of Origin and their International Registration (1958) [member since June 1, 1999];

·         Madrid Agreement for the Repression of False or Deceptive Indications of Source on Goods (1891) [member since May 18, 2000];

·         Nairobi Treaty on the Protection of the Olympic Symbol (1981) [member since March 18, 2000];

·         Treaty on Intellectual Property with Respect to Integrated Circuits (1989) (signed, not ratified];

·         International Convention for the Protection of Performers, Producers of Phonograms and Broadcasting Organizations [member since December 20, 2002];

·         Convention for the Protection of Producers of Phonograms Against Unauthorized Duplication of their Phonograms [member since December 20, 2002];

·         WIPO Copyright Treaty [member since December 20, 2002];

·         WIPO Performances and Phonograms Treaty [member since December 20, 2002]

WTO Accession:

·         Montenegro has not been accepted as a member in the World Trade Organization (WTO) as planned, largely due the inability to conclude bilateral agreements with all WTO members. In particular, Ukraine has sought from the GoM additional clarification on legislation in the fields of agriculture, industrial goods and services before bilateral negotiations can continue.

·         Montenegro applied for membership in WTO in December 2004 and has come a long way since then. In February 2005, the WTO General Council accepted its application, and a working group was established to begin the negotiation process. Bilateral agreements have been signed with the United States, the EU member states, Switzerland, Brazil, Norway, Canada, China and Japan.

·         Accession to the WTO is expected to make a positive and lasting contribution to the process of economic reform and sustainable development in Montenegro. A large part of Montenegro's trade is already with the EU, but the further mutual opening of markets and abolishment of restrictions to market access for goods and services will benefit entrepreneurs on both sides and stimulate investment.

·         Bilateral trade commitments between the EU and Montenegro are already embodied in the Stabilization and Association Agreement (SAA) which was signed on October 15, 2007. Pending completion of the ratification process in the 27 EU Member States, an Interim Agreement has been applicable since January 1, 2008 and allows for the early implementation of trade and trade-related provisions of the SAA.

·         The US Government, through USAID, provided technical assistance to Montenegro on the WTO accession process; the project was completed in December 2008.

A.8. Transparency of Regulatory System

The Montenegrin Law on Foreign Investment is based on the national treatment principle, and all proposed laws and regulations are published in draft form and open for public comments, generally for a 30-day period.

Foreign investors can establish a company and invest in it in the same manner and under the same conditions which apply to domestic persons. The same regulations are applied to both domestic and foreign investors, and there are no other regulations which might deprive a foreign investor of any rights or limit such rights. With the July 2007 changes and amendments, the Law of Foreign Investments is now fully harmonized with World Trade Organization rules.

22. siječnja 2004, Skupština Crne Gore uspostavila energetsku regulatornu agenciju, koja ima autoritet nad struja, plin, nafta, i grijanja energetski sektori. Njegove glavne zadaće su odobrenje cijenama, razvoj modela za određivanje dopuštene troškove poslovanja za energetskog sektora subjekata, izdavanje poslovnih dozvola za energetske tvrtke, a za izgradnju u energetskom sektoru, te praćenje javnih natječaja. Energija zakon propisuje da se ti energetski sektori u kojima su cijene pogođeni monopola pozicije nekih sudionika, poslovni troškovi će biti postavljen na razinama odobrenih od strane Agencije. U tim područjima smatra da funkcionira natjecateljski, tržište će odrediti cijene.

Agencija za telekomunikacije je osnovana od strane crnogorske vlade u 2001. To je neovisno regulatorno tijelo čija je primarna svrha je za izradu i provedbu regulatornog okvira i potaknuti privatne investicije u sektor.

Crna Gora je pokrenula reforme poreznog sustava i cjelokupnog financijskog sustava u 2001 kako bi se: poticati domaću proizvodnju i investicije, da Crna Gora privlačnija stranim investitorima; napraviti lokalno proizvedene robe više konkurentne na inozemnim tržištima; uskladiti porezni sustav s EU direktivama i međunarodnim standardi, čine porezni sustav jednostavnije, učinkovitije i lakše provesti, i generiranje prihoda za državni proračun.

Ključni segmenti paket porezne reforme uključuju poreza na dodanu vrijednost (primjenjuje se od 1. travnja 2003), koji zamjenjuje prethodni maloprodaji poreza i korištenje samoprocjene principu pod kojima porezna obveza obračunava porezni obveznik, a povezano je postupak pod kontrolom od strane porezne vlasti. Osim toga, porezna uprava također je transformiran, a neki kompetencije se odnose na prikupljanje prihoda lokalnih su prenesene na lokalne vlasti.

Porezni sustav u Crnoj Gori sastoji se od sljedećih poreznih zakona:

- Porez na dobit [na snazi ​​od 1 siječnja 2002] 
- Porezu na dohodak [na snazi ​​od 1 siječnja 2007] 
- Porez na imovinu [na snazi ​​od 1 siječnja 2003] 
- Trošarinama [na snazi ​​od 1. travnja 2002] 
- Porez na dodanu vrijednost (PDV) [na snazi ​​od 1. travnja 2003]

Porez na dobit Zakon propisuje proporcionalni poreznu stopu od devet posto. Porezni obveznik poreza na dobit je definirana kao stanovnik ili nerezidenta pravne osobe koja obavlja djelatnost za profit. Ograničeno partnerstvo također podliježe porezu na dobit.

Novi Zakon o porezu na dohodak stupio je na snagu 1. siječnja 2007.Ovaj zakon propisuje fiksnu poreznu stopu od 15 posto na dohodak, na 1 siječnja 2009 ta je stopa smanjena je za 12 posto, i dalje će biti smanjena 2010-9 posto. Dohodak obveznik je definiran kao stanovnik ili nerezidenta fizičke osobe koja zarađeni dohodak iz izvora utvrđenih zakonom. Kada se dvije ili više fizičkih osoba zajednički zaraditi prihod, porezni obveznik je svaka od tih osoba u omjeru s dijeljenje takvih prihoda.

Dodanu vrijednost Porezna stopa je 17 posto, što je neznatno ispod prosjeka zemalja članica EU. Izmjene i dopune zakona su smanjili stopu poreza od 17 posto na 7 posto na usluge smještaja u turizmu, za lijekove koji nisu na listi koju je odredio za zdravstveno osiguranje, a na komunalnim uslugama, usluge prijevoza, te autorske usluga (kao što su autorska prava i usluge u području obrazovanja, književnosti i umjetnosti). Smanjenje PDV-a za turističke usluge je pomogao potaknuti rast u tom sektoru. Nulta stopa PDV-a primjenjuje se na izvoznim poslovima, a na isporuku lijekova i medicinskih uređaja koji su financirani iz Fonda za zdravstveno osiguranje.

Zakon također predviđa nekoliko vrsta izuzeća: za usluge od javnog interesa (javne poštanske usluge, zdravstvene usluge, socijalne sigurnosti usluge, predškolski odgoj usluge, šport, vjerske i druge javne službe); uvoz robe (proizvodi doveo u Crnoj Gori s tranzitnim carinskom postupku, usluge koje se odnose na uvoz robe i sl.); privremeni uvoz robe (proizvodi uvezeni na privremenoj osnovi, pod uvjetom da su oslobođeni od plaćanja carine prema carinskim propisima), te posebnih izuzeća (uvoz robe za inspekciju od strane carinskih organa; proizvodi koji ulaze bez carine zonu ili slobodno carinsko skladište, te proizvodi pod carinskim pohranu postupka ili pod uvoza postupku za izvoz na temelju kašnjenja).

Porezno razdoblje za PDV se definira kao kalendarski mjesec, a porezni obveznici su dužni podnijeti mjesečne PDV prijave. Ove vraća se podnosi svakog 15. u mjesecu nakon mjeseca u kojem porezna obveza se plaća.PDV na uvoz se plaća istovremeno s plaćanjem carine. (Napomena:. PDV je dio carinskog obveze)

A.9. Učinkovito Tržišta kapitala i portfeljnih ulaganja

Bankarski sektor u Crnoj Gori je u potpunosti privatizirana. Postoji jedanaest banaka koje posluju u toj zemlji, a sve od njih su u privatnom vlasništvu, dva su lokalno vlasništvu, dok ostalih devet su dio međunarodnih banaka. Ukupno aktiva banaka na kraju srpnja 2009 iznosila je 3,10 € milijardi eura, a ukupni depoziti iznosili su € 1730000000. Oročeni depoziti činili 58,5 posto ukupnih depozita. Najveći udio u strukturi depozita vrijeme je bila sastavljena od depozita do jedne godine (27,1 posto), oročeni depoziti do tri mjeseca čine 16,5 posto i depoziti do tri godine iznosio 13,3 posto.

Krediti iznose € 2610000000 krajem srpnja, a 6,6 posto (184.300.000 €) pad od kraja prosinca 2008. U strukturi isplaćenih kredita, korporativne i kućanstvo krediti činili 95,4 posto od ukupnog broja, a preostalih 4,6 posto pripisuje banaka, drugih financijskih institucija, javnih vlasništvu organizacije, neprofitnih organizacija i drugih.

U listopadu 2008, Vlada Crne Gore usvojila je Zakon o zaštitnim mjerama za bankarski sektor ublažiti negativne posljedice globalne ekonomske krize stabiliziranje i jačanje zemlje banke. Novi set zakona dodatno će poboljšati regulaciju bankarskog sektora i osigurati višu razinu depozitara sigurnosti i povećanje povjerenja u bankarski sektor sama. Osim toga, zakon će osigurati veću zaštitu depozita u slučaju naglih poremećaja u bankarskom sektoru.

Euro je službeno u upotrebi u Crnoj Gori od 31 ožujka 2002. Crna Gora je jedna od rijetkih zemalja (zajedno s Andorom i Kosova) koji ne pripadaju euro zoni, ali koristi euro kao službenu valutu, bez ikakvih formalnih sporazuma. Korištenje eura definira ulogu središnje banke, a od njegova vlast je ograničena, to je usmjerena na kontrolu bankarskog sustava, te održavanje sustava platnog prometa. On djeluje kao fiskalni agent države i nadzire monetarnu politiku.

Tržišta kapitala:

Tržište kapitala u Crnoj Gori sastoji se od dva tržišta dionica. Početkom 2008 je jedan od burzama pokrenula ponudu za preuzimanje, ali nije uspio da preuzmu kontrolu nad svojim suparnikom. Sedam investicijski fondovi i 24 brokerskih društava sudjelovati na tržištu. Broj banaka također sudjeluju na tržištu kapitala kroz osnivanje mirovinskih fondova, formiranje brokerskih društava, odnosno obavljanje skrbničkih poslova.

Obujam trgovine na obje crnogorske burze tijekom prvih devet mjeseci 2009 iznosila 342.800.000 €, gotovo dva i pol puta više od volumena trgovine u istom razdoblju u 2008 (137.200.000 €). Transakcije iznosio 48.250, što predstavlja 12-postotno povećanje u odnosu na 2008 lik.Značajan porast u 2009 volumena trgovanja je u velikoj mjeri rezultat rasprodaje manjinskog udjela u elektroenergetskom Društva Crne Gore (EPCG).

Tri vrste vrijednosnih papira kojima se trguje: udjele trgovačkih društava; privatizacijsko-investicijskim fondovima dionice, obveznice i.Raspon dostupnih obveznica uključuje obveznice stare štednju, restitucije Fonda obveznice i lokalne samouprave obveznice. Tijekom prvih devet mjeseci 2009, najveći promet zabilježen je u sektoru poduzeća udio (93,6 posto), a slijede razne druge assorted obveznice (4,2 posto). Ukupan promet investicijskih fondova iznosila je 2,2 posto.

Trgovina na NEX berzi:

Ukupni volumen trgovine tijekom prvih devet mjeseci 2009 je 150.800.000 €, a broj transakcija iznosio 16.013. U usporedbi s ukupnom volumenu u istom razdoblju u 2008, opseg trgovine bio dvostruko veći. Najviši mjesečni trgovinski volumen zabilježeno u srpnju, kada se dionice EPCG ostvarila ukupno 19.900.000 € u prometu kroz 485 transakcija, te u rujnu, kada je Telekom Crna Gora dostigla trgovinski volumen 1.100.000 € kroz ukupno 301 transakcija.

Trgovina na Montenegro burzi:

Ukupna trgovina volumen tijekom prvih devet mjeseci 2009 iznosila 191.900.000 €, približno tri puta više nego u istom razdoblju u 2008.Najviše se trgovalo tvrtke od siječnja do listopada 2009 su Electric Power Company Crne Gore (EPCG), koji je postigao 124.300.000 € do 548 transakcija svibnja, i Opportunity banka, koji je postigao trgovinski volumen 13.000.000 € kroz samo jednu transakciju ožujka .

A.10. Natjecanje iz poduzeća u državnom vlasništvu (DP)

Privatna poduzeća u Crnoj Gori su u mogućnosti da se natječu s javnim poduzećima pod istim uvjetima s obzirom na pristup tržištima, kreditne i druge poslovne operacije.

Vlada Crne Gore je glavna institucija odgovorna za proces privatizacije.Kako bi se upravljanje, kontrolu i provesti proces privatizacije, Vlada je osnovala Savjeta za privatizaciju za definiranje ciljeva, metoda i određene načine privatizacije. Odgovornost ovog vijeća definiran je Zakonom o gospodarskoj privatizaciji. Savjet za privatizaciju objavljuje svake godine plan privatizacije koji definira što će tvrtke biti privatizirana i metode za njihovu privatizaciju.

Proces privatizacije u Crnoj Gori je u završnoj fazi. Većina tvrtki koje još nisu privatizirane su od strateškog značaja za crnogorsku ekonomiju u područjima kao što su energetika, promet, i turizma. Daljnja privatizacija poduzeća u državnom vlasništvu trebaju pridonijeti postizanju bolje ekonomske rezultate, povećati konkurentnost zemlje i omogućiti Vlada Crne Gore za generiranje veće prihode koji će poboljšati kapitalne investicije i smanjiti dugove.

Od početka procesa privatizacije u 1999 do kraja rujna 2009, gotovo 90 posto kapitala u crnogorskim tvrtkama bila privatizirana. Vlada Crne Gore još uvijek drži udjele u 60 tvrtki, a zadržava većinsko vlasništvo u više od 30 njih. Najvažniji tvrtke u državnom vlasništvu su Luku Bar, Crna Gora željeznica, elektroprivreda Tvrtka Crne Gore (EPCG), u Bijeloj brodogradilišta, Montenegro Airlines, zračne luke u Crnoj Gori, i Plantaze vinogradu. Sve ove tvrtke su registrirani kao dionička društva, s Vlada Crne Gore imenovanje jednog ili više predstavnika u svakom odboru na temelju vlasničke strukture.

A.11. Društveno odgovorno poslovanje (DOP) 

Svijest o društvenoj odgovornosti postoji među crnogorskog poduzeća, a poduzetnici priznaju da je DOP važan alat za razvoj svog poslovanja.DOP programi su najjači u velikom privatnom vlasništvu Crne Gore i stranih tvrtki, ali male tvrtke ne sudjeluju u nekim CSR aktivnosti.Nedavno provedeno istraživanje koje je pokazalo da UNDP velike privatne tvrtke su, doista, više angažiran u CSR aktivnosti, dok male tvrtke naveo nedostatak znanja o DOP-a i nedostatak podrške i kamate od klijenata kao glavne razloge za ne sudjeluje.

A.12. Politička Nasilje

Crna Gora je na čelu demokratski izabrane vlasti od 1991. Sadašnja vlada snažno podupire integraciju Crne Gore u Europsku uniju i NATO, kao i provedbi reformi potrebnih za ostvarenje tih ciljeva.

Nema stalni anti-američki sentiment u javnosti unatoč nekim preostalim ljutnja proizilaze iz 1999 NATO-vog bombardiranja u Srbiji. Crna Gora i Sjedinjene Države dijele najviše političke ciljeve i surađivati ​​produktivno u mnogim područjima. Tu je široka podrška za jačanje veza sa Sjedinjenim Američkim Državama, a posebno u gospodarskom / komercijalne sfere.

A.13. Korupcija 

Kao što je slučaj s mnogim zemljama u tranziciji iu regiji, korupcija je značajan problem u Crnoj Gori. Korupcija rutinski stavlja visoko na listi građana zabrinutosti u anketama. Prema Transparency International Indeksa percepcije korupcije za 2009, Crna Gora zauzela 69. u svijetu (od ukupno 180 zemalja uključenih u studiju) - poboljšanje od 15 mjesta u odnosu na 2008.

Vladin cilj integriranje s europskim i euroatlantskim institucijama je potaknulo napore za borbu protiv korupcije. Godine 2001, Vlada je osnovala antikorupcijskih agencija odgovorna za pripremu antikorupcijske zakone, poboljšanje transparentnosti financijskih i poslovnih operacija, koordiniranje aktivnosti sa nevladinim organizacijama, te promicanje svijesti u borbi protiv korupcije.

Godine 2005, Vlada je donijela službenu program za borbu protiv korupcije i organiziranog kriminala, a zatim stvorio Akcijski plan za provedbu Programa sljedeće godine. U 2007, GOM osnovala je Nacionalno povjerenstvo za praćenje provedbe Akcijskog plana. Ministar za europske integracije Gordana Đurović trenutno je na čelu komisije koja zadovoljava redovito tijekom cijele godine.

Pravni okvir za pomoći u borbi protiv korupcije i organiziranog kriminala je bio na snazi ​​od kolovoz 2006 usvajanja Zakona o zaštiti svjedoka.Crna Gora također priprema kriminalističko-obavještajnog sustava, te je punopravni član Međunarodne organizacije kriminalističke policije Interpol-od rujna 2006.

U protekle dvije godine, napredak u borbi protiv korupcije je postignut kroz prolaz važnog zakona o javnoj nabavi, riznica i proračun sustava, a sudovi. Provedba tih zakona je sada prioritet vlade.

A.14. Bilateralni sporazumi Investicijski

Crna Gora potpisala Srednjoeuropski sporazum o slobodnoj trgovini (CEFTA) - koji je namijenjen za uklanjanje svih prilagođenih ograničenja za industrijske i poljoprivredne proizvode u zemljama članicama do 2010 - u prosincu 2006. Sabor ratificirao CEFTA na 21 ožujak 2007, i to je stupio na snagu u Crnoj Gori (i istovremeno u Albaniji, Makedonija, Moldavija i Kosovo) na 26. srpnja 2007. Bugarska, Češka, Mađarska, Poljska, Rumunjska, Slovačka i Slovenija već su stranke Sporazuma.Crna Gora je Predsjedništvo rotirajući CEFTA tijekom 2009.

Sjedinjene Države ne imati bilateralni sporazum ulaganja (BIT) s Crnom Gorom. Moguće je da je, s obzirom na prisustvo američkih investitora, Crna Gora bi mogla biti BIT kandidat u budućnosti.

US obnovljena normalne trgovinske odnose (najpovlaštenije nacije status) u Crnoj Gori u prosincu 2003. Ovo pruža poboljšanu pristup američkom tržištu za izvezene robe iz Crne Gore. Američka vlada razmatra Crne Gore zahtjev da se odredi ostvari zemlje u razvoju pod sustavu SAD Generalizirani povlastica (GSP) programa, koji će osigurati bescarinski pristup tržištu SAD-a u raznim kategorijama povlaštenih. 
Ostali ugovori o slobodnoj trgovini:

·         Sporazum o slobodnoj trgovini s Rusijom. Sporazum o slobodnoj trgovini s Rusijom, zaključio je u kolovozu 2000, pod uvjetom da za postupno ukidanje prepreka crnogorskih izvoza u Rusiju do 2005. Sporazum predviđa da zemlja uvoznica regulira pravila o podrijetlu, u skladu s načelima WTO-a. Popis proizvoda koji nisu obuhvaćeni duty free sporazuma ažurira se jednom godišnje, i to trenutno uključuje perad, šećer, čokoladu, alkoholna pića, sapun, pamuk, tepisi, drveni namještaj, kućanski aparati, i motornih vozila.

·         Ugovor o slobodnoj trgovini s Europskom unijom. EU je poduzela korake za poticanje izvoza roba među zemljama u regiji kroz osnivanje autonomnih trgovinskih povlastica (ATP), koji pružaju bescarinski ulaz za više od 95 posto robe. Iznimke su vino, meso i čelik. Proizvodi podrijetlom iz Crne Gore općenito primljen u Europsku uniju bez količinskih ograničenja i izuzeti su od carina i pristojbi. Proizvodi izuzete iz slobodnog uvoza režima su poljoprivredni proizvodi, "baby beef" proizvodi i tekstilni proizvodi.

·         Sporazum o slobodnoj trgovini s Turskom. Crna Gora i Turska potpisale sporazum o slobodnoj trgovini asymemetric u studenom 2008. Dok je popis industrijskih proizvoda obuhvaćenih je identičan onome koji je potpisao ugovor s EU, popis poljoprivrednih proizvoda je prilično ograničen. Crnogorski parlament ratificirao Sporazum je u srpnju 2009, a ratifikacija parlamenta Turske očekuje. Zemlje EFTA-e (Švicarska, Norveška, Island, Lihtenštajn i). Preliminarna izjava o suradnji potpisan je s EFTA u prosincu 2000, obećavajući asimetričan liječenje Montenegro proizvoda na tržištima četiri zemalja članica.Deklaracija je utro put za buduće sporazuma o slobodnoj trgovini između EFTA i Crne Gore. 

A.15. Opić i druge investicijske programe osiguranja

OPIC je samoodrživog američka vlada agencija, koja promovira rast u zemljama u razvoju, potičući američke privatne investicije. Opić ključni programi uključuju kredita garancije, izravne zajmove i političkog rizika osiguranje. Crna Gora, kroz Državne zajednice Srbije i Crne Gore, postao je pravo na Opić programa u srpnju 2001. Opić aktivnosti u Crnoj Gori su: osiguranje za investitore protiv političkog rizika, eksproprijacije imovine, štete zbog političkog nasilja i valutne konvertibilnosti, te osiguranje pokrivenost za određene ugovaranja, izvoz, licenciranje i leasing transakcije. OPIC također uspostavio Equity jugoistočnoj Europi investicijski fond kojim upravlja Soros Uprava; fond kapitaliziraju se na 150 milijuna dolara. Za više informacija, molimo pogledajte:http://www.opic.gov

Crna Gora postala član Grupe Svjetske banke u siječnju 2007 potpisivanjem Sporazum o Međunarodnoj banci za obnovu i razvoj (IBRD). Crna Gora je član IBRD, te je također pridružio Međunarodni razvoj (IDA), Međunarodna financijska korporacija (IFC), i multilateralno investicijsko osiguranje (MIGA).

A.16. Rad

Crnogorski Ukupna radna snaga se sastoji od oko 257 tisuća ljudi, stopa nezaposlenosti u prosincu 2009 bio je 11,17 posto, blagi porast u odnosu na isto razdoblje u 2008. Prosječna mjesečna bruto plaća u 2009 bio je 930 dolara (633 €), dok je prosječna mjesečna neto plaća bila 670 dolara (456 €).

Tijekom proteklih nekoliko godina, broj zaposlenih u privatnim tvrtkama povećao, a ukupna zaposlenost u socijalnom sektoru (uključujući i poduzeća u državnom vlasništvu) je smanjen. Glavni sektori stvaraju zaposlenost u Crnoj Gori su turizam, luke i brodarstvo, i proizvodnja (tj. aluminij.)

Dovođenje Crne Gore na tržištu rada zakonodavni okvir u skladu sa standardima EU-a jedan je od osnovnih ekonomskih zadataka GOM. Novi Zakon o radu usvojen je u srpnju 2008. To definira jedan kolektivni ugovor za obje javnog i privatnog sektora, održava postojeću razinu otpremnine, i zadržava trenutni 365 dana porodiljni dopust. Zakon o mirnom rješavanju radnih sporova je usvojen u prosincu 2007. On uvodi out-of-sudsku nagodbu u radnim sporovima za prvi put u Crnoj Gori.Međutim, agencija za provođenje Zakona još treba utvrditi.

During the first eight months of 2009, the national employment agency granted licenses for employment to 14,647 foreigners -- 90 percent of whom were engaged in seasonal employment (ie tourism, catering and construction.) The New Law on the Employment of Nonresidents took effect on January 1, 2009 and mandates the government to set a quota for nonresident workers in the country. The nonresident quota for the 2010 tourist season is expected to be approximately 40,000 persons.

Substantial amendments to existing legislation and timely adoption of the necessary by-laws are needed to align legislation on workplace health and safety more closely with the EU acquis communitaire. The administrative capacity of the Ministry of Labor and its inspection department are not yet strong enough, and the establishment of the workplace safety agency needs to be prioritized. The newly adopted Law on Pension Insurance has also helped to reform the pension system.

A.17. Foreign-Trade Zones/Free Ports

In June 2004, Montenegro passed a Free Trade Zone Law, which offers businesses benefits and exemptions from custom duties, taxies and other duties. The Port of Bar is currently the only free trade zone in Montenegro.

All regulations are in compliance with EU legal standards. Complete equality has been guaranteed to foreign investors in reference to ownership rights, organizing economic activities in the zone, complete free transfer of profit and deposit, and the security of investments.

All Free Zone users have at their disposal the use of infrastructure, Port handling services, and all telecommunication services.

Kontakt:

AD Luka Bar (Port of Bar Holding) 
Obala 13. Jula bb 
85000 Bar, Montenegro 
Phone/Fax: +382 30 312 666 
E - mail: lukabar@t-com.me 
Web site: www.lukabar.me

A.18. Foreign Direct Investment Statistics

Investing Company: CVC Capital Partners 
Country: Luxembourg 
Investment: Acquisition of Niksic Brewery for USD 25.2 million

Investing Company: Societe Generale 
Country: France 
Investment: Acquisition of 64.45 percent of Podgoricka Bank for USD 16.8 million

Investing Company: Hellenic Petroleum 
Država: Grčka 
Investment: Acquisition of the 54.4 percent of Jugopetrol Kotor petroleum refinery for USD 120 million

Investing Company: Telenor 
Country: Norway 
Investment: Acquisition of Promonte mobile operator for USD 145 million

Investing Company: Matav (with Deutsche Telecom) 
Zemlja: Mađarska 
Investment: Acquisition of 51 percent of Telecom Montenegro for USD 142 million

Investing Company: Rusal 
Država: Rusija 
Investment: Acquisition of "KAP" aluminum plant for USD 58.2 million

Investing Company: Daido 
Država: Japan 
Investment: Acquisition of ball bearing factory for USD 11.2 million 

Investing Company: HIT Nova Gorica 
Država: Slovenija 
Investment: Acquisition of the Hotel Maestral for USD 48 million

Investing Company: Beppler & Jacobson 
Država: Engleska 
Investment: Acquisition of Hotel Bianca for USD 10.8 million

Investing Company: Salomon Ent 
Država: Rusija 
Investment: Acquisition of Bauxite Mine (Rudnici boksita AD Podgorica) for USD 12.5 million

Investing Company: Beppler & Jacobson 
Država: Engleska 
Investment: Acquisition of Hotel Avala for USD 15.2 million

Investing Company: Gradex HPB 
Country: Slovakia 
Investment: Acquisition of Rudnik coal mine for USD 12.7 million

Investing Company: Springer & Sons 
Country: Austria 
Investment: Acquisition of Hotel Panorama for USD 9.3 million

Investing Company: LB Leasing Ljubljana 
Država: Slovenija 
Investment: Greenfield investment in LB Leasing Podgorica of USD 10.1 million

Investing Company: Hypo Group 
Country: Austria 
Investment: Greenfield investment in Hypo Alpe Adria Montenegro of USD 15 million

Investing Company: OTP Bank 
Zemlja: Mađarska 
Investment: Acquisition of CKB bank for USD 134 million

Investing Company: PM Securities 
Country: Canada 
Investment: Acquisition of Arsenal for USD 4 million

Investing Company: Strabag AG 
Država: Njemačka 
Investment: Acquisition of Public Enterprise Crnagora put for USD 10.5 million

Investing Company: MN Specialty 
Država: Engleska 
Investment: Acquisition of Steel factory Niksic for USD 6.5 million

Investing Company: Aman Resorts 
Država: Singapore 
Investment: Lease of HTP Budvanska Rivijera ("Sveti Stefan", "Milocer", "Kraljicina plaza") for USD 1.95 million per year for 30 years, following a first year payment of USD 2.1 million.

Investing Company: Telecom Serbia and Ogalar BV 
Country: Serbia and Holland 
Investment: Greenfield investment of USD 16 million

Investing Company: Balkan Energy 
Država: Grčka 
Investment: Portfolio investment in Berane coal mine of USD 1.5 million

Investing Company: Petrol Bonus 
Država: Slovenija 
Investment: Acquisition of Montenegrobonus for USD 154.5 million (for six years)

Investing Company: BT International 
Država: Švicarska 
Investment: Acquisition of "4. Novembar" Mojkovac for USD 6.3 million

Investing Company: Intereuropa 
Država: Slovenija 
Investment: Portfolio investment in Zetatrans for USD 12.3 million

Investing Company: Morgan Invest 
Country: USA 
Investment: Portfolio Investment of Titex for USD 2.45 million

Investing Company: Platzer Leasing & Monte Mlin Sajo 
Country: Austria & Montenegro 
Investment: Acquisition of Hotel "Vila Oliva" for USD 3.5 million

Investing Company: Barkli SK 
Država: Rusija 
Investment: Acquisition of Hotel "Otrant" for USD 2.5 million

Investing Company: Becovic Management Group 
Country: USA 
Investment: Acquisition of Hotel "Mediteran" for USD 1 million

Investing Company: Capital Estate 
Država: Rusija 
Investment: Acquisition of Hotel "Grand Lido" for USD 10.8 million

Investing Company: HLT fund & Primorje Tivat 
Country: Slovenia & Montenegro 
Investment: Acquisition of Hotel "Centar Igalo" for USD 3.1 million

Investing Company: Hungest Hotels 
Zemlja: Mađarska 
Investment: Acquisition of Hotel "Topla" for USD 800,000

Investing Company: Hungest Hotels 
Zemlja: Mađarska 
Investment: Acquisition of Hotel "Centar" for USD 1 million

Investing Company: Beppler & Jacobson 
Država: Engleska 
Investment: Acquisition of Bjelasica Ski center for USD 500,000

Investing Company: UNIQA International Beteiligungs 
Country: Austria 
Investment: Greenfield investment in UNIQA Montenegro of USD 3.2 million

Investing Company: Bolici Invest 
Država: Italija 
Investment: Greenfield investment in Hotel Bolici of USD 58.8 million

Investing Company: Royal 
Država: Belgija 
Investment: Greenfield investment in Royal Montenegro of USD 147 million

Investing Company: Egyptian investment fund 
Country: Egypt 
Investment: Greenfield investment of USD 73.5 million

Investing Company: MNSS BV 
Država: Holland 
Investment: Acquisition of Steel Mill of USD 58.8 million

Investing Company: Gintas Group 
Country: Turkey 
Investment: Greenfield investment in Mall of Montenegro of USD 58.8 million

Investing Company: Mercator Group 
Država: Slovenija 
Investment: Portfolio investment in Mercator Mex of USD 8.8 million

Investing Company: Lukoil 
Država: Rusija 
Investment: Portfolio investment in Roksped of USD 39 million

Investing Company: Agrokor 
Država: Hrvatska 
Investment: Portfolio investment in Stampa of USD 2.2 million

Investing Company: Alstom 
Country: France 
Investment: Expansion of Niksicka Tehno Baza of USD 7.35 million

Investing Company: Delta 
Država: Srbija 
Investment: Greenfield investment in Delta City shopping mall of USD 86.9 million

Investing Company: A2A 
Država: Italija 
Investment: Acquisition of the Electric Power Company of Montenegro (EPCG) of USD 282.3 million

Investing Company: Orascom Development 
Country: Egypt 
Investment: Greenfield investment on Lustica peninsula of USD 14.7 million