Statement of the Deputy Prime Minister and Finance Minister, Mr. Igor Lukšić, PhD., on the occasion of determining the Proposal of the Law on Investment Development Fund of Montenegro and the Action Plan for business environment

"After long consideration of different transformation options of the Development Fund, the Government determined the Proposal of the Law on Investment Development Fund of Montenegro, for the reasons being reflected in recommendations previously issued by the State Audit Institution in the context of redefining the position of the Development Fund in our system, due to certain contradiction in budgetary treatment of the Fund, or organizational treatment in the context of the Business Organizations Law. For aforementioned purposes, the new Law is enabling the transformation of the Fund into the Investment Development Fund, i.e. joint stock company that will continue with the provision of the support to entrepreneurship and the Directorate for small and medium sized enterprises development. This is simultaneously resolving the issues proposed by the State Audit Institution to be resolved and the provision of more qualitative system solution. At the same time the Directorate for the development of small and medium sized enterprises will continue to perform operations within established scope of activity which is to encourage businesses, create conditions for the development of business incubators to assist micro and small sized enterprises in reaching high quality business plans, projects, etc.., positioning them on the ...