Government to pursue reforms in judiciary, finance, tourism, sustainable development in order to advance business environment

Nikšić, Montenegro (31 May 2014) – Montenegro's Government completed this afternoon in Nikšić its two-day thematic session dedication to advancing business environment in Montenegro. The session focused on the significance of reforms in the areas of judiciary, finances and property and legal affairs, public administration, and sustainable development and tourism aimed at eliminating business barriers and creating a more favourable climate for doing business.

The aim of the reforms is to attract investments and create prerequisites for economic and social development of the country, Deputy Prime Minister and Justice Minister Duško Marković told the press following the Cabinet’s session.

Independent, accountable and efficient judiciary is a key factor for strengthening  the rule of law and legal certainty, which should create a more attractive environment for both domestic and foreign investors, but also ensure they respect Montenegro’s legal system, thus contributing to the overall development of the country.

The reforms are to be pursued at normative, institutional and implementation levels, and will be related to issue concerning commercial courts, legal proceedings and enforcing contracts, Mr Marković explained.

As far as adopting new legislation is concerned, the Government is committed to drafting the Law on Arbitration Proceedings and the Law on Bankruptcy. It is also envisaged to set up a new department within the Commercial Court in Podgorica for organised crime, corruption, terrorism and war crimes, as well as a Special State Prosecutor’s Office for combating organised crime and corruption.

It is essential to advance proceedings before the Commercial Courts, as the existing long-lasting ones do not satisfy principles of justice, in particular when it comes to bankruptcy, DPM Marković stressed.

As to the implementation of measures aimed at eliminating business barriers, DPM Marković mentioned new legal institutions of notary, bailiff and mediation, which have already been introduced into Montenegro’s legal system and are to be further enhanced in order to make enforcing contracts more efficient.

He also emphasised the Government will encourage more quality training programmes in the judiciary, especially as regards commercial courts with the view to resolving disputes within acceptable deadlines in order to advance business environment.

The Government of Montenegro is committed to fiscal consolidation, structural reforms and easiness of doing business aimed at generating higher economy growth rates, creation of new jobs and advancement of the standard of living, Finance Minister Radoje Žugić told the press conference earlier today in Nikšić. 

Montenegro has been recognised for the easiness of doing business and the goal is to improve the position it is now in, but, at the same time, to provide balance between easiness of doing business and fiscal stability and sustainability, he stated.

To that aim, the Ministry of Finance is preparing three sets of laws concerning taxation, financial reporting and value assessment, and property and legal affairs. The Cabinet concluded that new legal solutions should not endanger the basic concept of the policy in this field and that all changes to the existing legal solutions must be preceded by thorough analysis of all economic indicators.

The Cabinet also discussed reform activities in tourism and sustainable development, and launched numerous initiatives aimed at developing a high quality tourist offer, along with boosting transport accessibility of Montenegro as a prestigious tourist destination.