Press release from the 62nd Cabinet session

The Montenegrin Cabinet held its 62nd session today, chaired by Prime Minister Milojko Spajić.

The Cabinet adopted the Draft Law on Spatial Planning and the Draft Law on the Construction of Buildings.

The Cabinet adopted the Draft Law on Alternative Investment Funds. The objective of this draft law is to improve the business environment, develop alternative investment funds in Montenegro, and establish an adequate regulatory and supervisory framework aligned with EU legal standards. The law provides for the licensing of alternative investment funds and management companies while introducing measures and controls to enhance investor protection in capital markets. This initiative aims to foster competition and streamline the regulatory framework.

The Cabinet adopted the Draft Law on Amendments to the Law on Tax Administration. The proposed amendments will address shortcomings and create conditions for the automatic exchange of financial account information, aligning Montenegro with international tax transparency standards. The amendments clarify reporting obligations for financial institutions in Montenegro and adopt the OECD's Common Reporting Standard (CRS).

The Cabinet adopted a decision on the priority areas of public interest and the amount of funding for NGO projects and programmes in 2025. In accordance with the Law on NGOs, at least 0.3% of the annual budget will fund projects in public interest areas, with additional allocations for disability protection and EU-cofinanced projects.

The Cabinet approved COTEE’s (Electricity Market Operator of Montenegro) proposal to acquire business premises using €251,600 from its capital and €450,000 in loans.

The Cabinet allocated €45,000 to support the Bokelj Navy Kotor for the purchase of traditional uniforms for new members and replicas of historical Venetian rifles. Recognized as Montenegro’s first intangible cultural heritage by UNESCO, this investment preserves the Navy's rich traditions and enhances its cultural presentations nationally and internationally.

The Cabinet adopted the Report on the Implementation of the National Plan for the Implementation of the Council of Europe Convention on Preventing and Combating Violence against Women and Domestic Violence (Istanbul Convention) for the period 2023 and 2024. The National Plan stipulates that most activities will be carried out continuously throughout the implementation period, from 2023 to 2027. This approach aligns with the provisions of the Istanbul Convention, which requires a systematic and sustainable approach to strengthening institutional capacities, developing preventive measures, providing adequate support to victims, and improving the judicial response to violence. Due to the long-term nature of the planned measures, a significant portion of the activities envisaged for 2023–2024 have not yet been fully implemented. The Convention emphasizes the importance of continuous investment in measures such as training professional staff, raising public awareness, developing support services for victims, and establishing cross-sectoral cooperation. These activities require time and resources for successful implementation. Priority activities for the initial period, such as strengthening institutional capacities, raising public awareness, and improving legal frameworks, have been partially implemented, with their full realization set to continue in the coming years.

The Cabinet allocated €182,000 for the construction and maintenance of multi-purpose sports and recreational infrastructure at Savin Kuk. This project includes advanced snow-making systems to address insufficient snowfall and improve the resort's winter sports offerings.

The Cabinet adopted a Decision on the Establishment of the Development Bank of Montenegro. The Decision stipulates that the Development Bank is established and operates with the purpose of supporting and encouraging the economic development of Montenegro's economy in accordance with the law. The founder of the Development Bank is the State of Montenegro, with the rights and duties of the founder being exercised by the Government of Montenegro. It is foreseen that the Development Bank, with the consent of the Government, may utilize international funds and borrow domestically and abroad in money and capital markets for the purpose of conducting its activities. Funds for performing export insurance operations will be provided from the Budget of Montenegro. Additionally, it is specified that the founding capital of the Development Bank amounts to €107,508,716.