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MONTENEGRO MONTENEGRO

MONTENEGRO - PowerPoint Presentation

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MONTENEGRO - PPT Presentation

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

montenegro tax income rate tax montenegro rate income profit investors foreign economic business trade 2008 2012 signed 2006 production

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Slide1
Slide2

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