P opulation 620 029 census 2011 Surface 13 812 km2 B order length 614 km coast length 293 km Administrative Capital Podgorica 185 937 inhabitants NATURAL RESOURCES agricultural area of 032 ha per capita ID: 604975
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Slide1Slide2
MONTENEGRO
P
opulation
620 029 (census 2011)
Surface 13 812 km2
B
order length
614 km (
coast
length 293 km)
Administrative Capital
Podgorica
(
185 937
inhabitants)Slide3
NATURAL RESOURCESagricultural area of 0.32 ha per capita1 ha of forest per capita40 natural lakes4 dams
great river potentials
mineral wealth
NATIONAL PARKS
Durmitor
Lov
ć
en
Biogradska gora
Skadarsko jezero
Prokletije Slide4
GEOGRAPHIC AREASNorthern – mountaniousTourism, animal husbandry, agriculture, forests, hydro potentialCentralThe biggest plain in Montenegro and the most fertile areaSouthern – coastalBeautiful coast, sandy beaches (tourism, maritime economy, fishery, salt production)Slide5
EUROPEAN AND ATLANTIC INTEGRATION OF MONTENEGROCEFTA 2006 signed 19th of December 2006
.
The Stabilization and Association Agreement signed 15
th of October
2007
.
Interim SAA effective from 01.01.2008.
Submit
ed
answers to a questionnaire 09.12.2009.
C
andidate
status for EU membership 17.12.2010.
M
ember of the WTO
29 April 2012.
Negotiations
for EU membership
began in June 2012
.Slide6
DEVELOPMENT PRIORITIES OF MONTENEGROTourismAgricultureEnergy SectorSlide7
MACROECONOMIC INDICATORSYear20062007
2008
2009
2010
2011
2012
Infl
ation
(
%
)
2,00
7,70
6,90
1,50
0,70
2,80
5,10
Rate of Unemployment
(%)
14,60
11,90
10,70
11,43
12,13
11,50
13,50
Foreign debt
(mil
€
)
504,00
462,10
481,70
699,90
912,40
1
.063,7
-
Foreign
debt as
% of
G
DP
23,40
17,20
15,60
23,50
29,40
32,
5
0
-
Current
Account Balance
(mil€
)
-673,50
-1,058,7
-1,535,2
-830,30
-710,20
-573,40
-587,60
D
eficit
/
su
rplus
of
bud
get
(mil
€)
85,10
173,00
15,10
-132,10
-112,30
-189,70
-163,80
%
of
participation GDP
3,90
6,40
0,50
-4,40
-3,60
-5,90
-4,90Slide8
INDUSTRY GROWTH RATETRADE EXCHANGE
Export
Import
Trade deficitSlide9
MONTENEGRO AS THE WORLD CAN SEE ITBilateral RelationsMontenegro has signed: 15 agreements on economic cooperation10 agreements on the reciprocal promotion and protection of investmentsFree trade agreements with EU, CEFTA, EFTA, Russia, Turkey, Ukraine while negotiations with Belarus and Kazakhstan are still in progress
Year
Rank
2008
81/178
2009
90/181
2010
71/183
2011
66/183
2012
56/183
Year
Rank
(1-7)
2008-2009
65/134
4,112009-201062/1334,162010-201149/1394,362011-201260/1424,272012-201372/1444,14
World Bank Doing Business
World Economic Forum Global
Competitiveness ReportSlide10
Investors are coming from 88 countriesThere is no domination of any country relative to the number of registered investors
ORIGIN OF INVESTORSSlide11
FOREIGN INVESTORS IN MONTENEGROSlide12
IMPORTANCE OF FOREIGN DIRECT INVESTMENTSFDI per sectors
2006
2007
2008
2009
2010
2011
Finance
33%
30%
28%
11%
24%
21%
Tourism
25%
23%
22%
14%21%24%Construction10%12%14%8%9%8%Industry
10%
12%
10%
48%
22%
23%
Services
8%
9%11%6%9%10Transport4%5%5%4%5%4%Agriculture2%2%2%2%2%2%Other8%7%8%7%8%8%Total5056786851,070692534
Speeding up the reform processes;Changing the structure of the economy;Contributing to GDP, GDP growth, employment, budget revenues, export/importDeveloping regional cooperationFDI’s are changing way of thinkingSlide13
FDI inflow
State
FDI
inflow in €
%
Of total FDI
1
Italy
486 .804 .302
11.8
2
Russia
478 .002.
577
11.6
3
Hungary
355 .691 .4938.64Great Britain322 .229. 0477.85
Cyprus309 .760 .7547.56Switzerland305 .170. 6627.47Austria298 .424 .9037.28Serbia159 .497. 8183.99Germany145 .354 .7203.510Slovenia683 .2673.5investors from 88 countriessource: MIPASlide14
taxation systemVAT
s
tandard
rate –
19
%
l
ower
rate – 7
%
c
orporate
p
rofit
t
ax
f
lat rate – 9 %personal income taxflat rate – 15 %property taxproportional tax ranging between 0.1 % - 1% of the immovable property’s market valueExemption from the income tax payment a newly-established legal entity in economically underdeveloped municipalities which performs production activity is exempted from paying income tax for the first eight years following the beginning of business operations, on the income generated by performing the business activity in the underdeveloped municipality a tax payer who makes a profit in a newly established business unit which performs production activity in underdeveloped municipalities is reduced the income tax for eight years proportionate to the share of the profit thus generated in the total profit of the tax payer.Slide15
REASONS TO INVEST IN MONTENEGRO?Politicaly, monetary and macroeconomic stability Simple START UP (1 euro + 4 days)National treatement – same rights and obligations as domesticFree money transfer
T
he same taxation for everyone
L
iberal economic regime of foreign trade
F
avorable tax policy
9%
profit tax
, 7/1
9
%
VAT
, 9%
income tax
I
nternational accounting standards
Growth of economic freedomsGeographical location and climatic conditionsSlide16