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PM Marković at 10th anniversary celebration of IDF...
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PM Marković at 10th anniversary celebration of IDF: Result of our economic policy and balance sheets are characteristics of countries of full stability and business security
Published on: Dec 13, 2019 • 7:16 PM Author: PR Service
Prime Minister Duško Marković said that we are witnessing excellent results of the economic policy of the Government supported by business people and employers, and that these results and balance sheets represent characteristics of the countries of stability, business security, and a stimulating business environment.
"Today, we are witnessing the synergy we have created to launch the country's development cycle, to launch the economy, create jobs and of course create the preconditions for a better standard of living. I said exactly three years ago that I wanted to work together with business people and employers on achieving economic policy goals. The Government's offer was accepted and today we are witnessing the results. Such a commitment was strongly supported by the Investment and Development Fund (IDF), which today marks the first ten years of work, and the first billion euros of invested funds," PM Marković said at celebration on the occasion of the 10th anniversary of the Investment and Development Fund of Montenegro.
The Prime Minister said that foreign direct investment inflow in the past three years amounted to more than EUR 2.2 billion, while in the last year and a half it amounted to more than EUR 1.3 billion.
"This result did not come by itself, but is the product of a well-thought economic policy we are pursuing. And such foreign investment balances are characteristics of countries full of stability, business security, and a supportive business environment. In addition, Montenegro is one of Europe's fastest growing economies today, with an average rate of 4.9% in the previous two years. In parallel, nearly 30,000 new jobs have been created. All this is a joint result of all of you who are here and of the Investment and Development Fund, whose entire team, led by the Chairman of the Board of Directors, is to be congratulated on the extraordinary success," the Prime Minister said.
PM Marković reminded that over the past three years, the Government of Montenegro has proposed the adoption and amendment of more than 200 legal solutions aimed at improving the business environment in various segments of economic life. By adopting the Law on Administrative Fees and the Law on Local Utility fees 49 fees were abolished and 72 fees were reduced, he noted.
"Since the Law on Rescheduling Tax Debt came into force, the tax debt of real sector companies has been rescheduled to a total of EUR 137 million. The EUR 1 billion investment over 10 years is a strong financial support for much larger and more developed economies than Montenegro. Of that money, EUR 600 million has been invested in the last three years. Over EUR 140 million has been invested in tourism and hospitality, and around 90 million in projects for agricultural and food production. With EUR 120 million in liquidity support, and over EUR 210 million in factoring arrangements, we have helped maintain the production of almost 400 small producers. I would like to single out another segment of IDF's business, which is the creation of new jobs and the preservation of existing ones through which over 12,000 jobs are supported. In short - almost all of our policies were reflected through the activities of the Investment and Development Fund," the Prime Minister stressed.
The Prime Minister said that the Government has allocated more than EUR 190 million to projects in municipalities in the north and municipalities with a level of development below the national average.
"I want to be clear, strong development of the north is the responsibility of this Government, but it must be the responsibility of any future Government. That is why the IDF should create as many lines and credit models as possible to use the undisputed resources of the north for the overall development of the whole country, "Prime Minister Duško Marković concluded.
PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO
PHOTO AND VIDEO: https://flic.kr/s/aHsmJZgqKr
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