- July 1, 2020
- Posted by: global-advisors
- Category: Latest news
The Government of Montenegro adopted the ‘Promotion Programme of Business Development‘, which seeks to encourage the development of micro and small enterprises on land connected to utilities, increase employment in less developed municipalities, as well as activate the capital of domestic and foreign investors who could identify an interest in the implementation and advancement of this project. Investors can use premises within the local self-government, suitable for capacity building, connected to utilities, intended for coordinated and planned use by a number of companies and manufacturers, which enables joint use of premises, utilities, financial, technical and other services, thus attaining business operations with lower cost.
Business zones have been declared by eight local self-governments in Montenegro, and therefore investors have the opportunity to invest under favourable terms in Berane, Bijelo Polje, Kolašin, Mojkovac, Nikšić, Cetinje, Ulcinj and Podgorica. The said local self-governments have defined business facilitations related to:
- payment of utility or other charges;
- bargain price of lease/purchase of premises within business zones;
- reduction or exemption from surtaxon individual income;
- lowering tax rates on real estate;
- the possibility to define a favourable model of public-private partnership;
- equipping with infrastructure areas which do not have a developed infrastructure.
The Ministry of Economy drew up a special guide with individually presented business zones, their locations, capacities and facilitations, and a bylaw is also being developed which will define further the competences and management of the business zone development project.
In cooperation with the United Nations Development Programme (UNDP), Ministry of Economy is conducting the »Capacity Building of Local Self-Governments to Manage and Promote Business Zones« programme which aims to reinforce the managerial staff of business zones, define a standardized model for business zone management, as well as define the model for promotion of business zones which will contribute to increasing the number of investors within individual local self-governments.
Therefore, in addition to tax exemptions and administrative facilitations, investors who choose to operate within the business zone will be also provided with complete logistical support so that their business operations will be further facilitated.