Presentation of the Deputy Prime Minister and Finance Minister Mr. Igor Lukšić, PhD., at the Telenor Business Forum

“Montenegrin Government will continue reducing business barriers to the lowest possible extent and endeavor in attracting foreign investments, without which we cannot count on high growth rates, because they are triggering economy, increasing the cash inflow, knowledge transfer and increasing budgetary revenues. Montenegrin economy is the best restructured one in the region, having the biggest chance for recovery from the crisis. We cannot expect the Government to resolve all the problems, especially not at this stage of development. Montenegro currently has 5.000 Euros income per capita, which is still around 50% of the European average. Compared to Norway, the country of origin of your company, the difference is even bigger. There is a huge gap between rich and developing countries, thus it is logical that we expect from rich companies bigger social responsibility. The efforts of the Telenor should be praised, but they should not fail in assisting to reduce emissions, economy recovery and ecological revitalization of some resources, because it is in your interest that the greater number of tourists visits Montenegro. The bigger number of tourists, the higher are the revenues of your company from services. There is certainly an economic benefit behind this which should not be neglected, being the reason to additionally motivate the partnership. The funds for implementation of ecologically –oriented projects will increase. The state should assume the liability and resole projects of priority, and rich companies, such as the Telenor, is expected to assist in promoting certain ideas. Montenegro is not the only country facing problems in implementation of these projects and elimination of business barriers. Corporate profit tax and income tax rates in Montenegro are 9%, unlike other countries where the tax rate range in the amount of 30 to 50%. The taxes are not the only item to be subject to decline in expenditures...“.