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Decision on Privatization Plan for 2019 has been published in the Official Gazette No. 013/19 of 01 March 2019

Decision on Privatization Plan for 2019 has been published in the Official Gazette No. 013/19 of 01 March 2019

Montenegro
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The Government of Montenegro, at the session of February 7, 2019, passed Decision about The Privatization Plan for 2019 which is published in the Official Gazette No. 013/19 of 01, March 2019 and it came into force on 9, April of the same year.

Decision on Privatization Plan for 2019 sets out the goals and methods of privatization, enterprises and capital for privatization, the conditions for their implementation, as well as the locations that need to be valued and the social aspects of the privatization process. The main goal of privatization is to increase the competitiveness and efficiency of the functioning of the company, encourage foreign investments and entrepreneurship in all areas, increase employment and improve living standards, stated in the Decision.

The document provides preparation and implementation of public procurements for the privatization of of certain companies, also tourist sites or companies which will be valorised through the public-private partnership, and the sale of certain companies’ shares through the stock exchange is envisaged.

The document provides:

I. Preparation and implementation of public procurements for the privatization of the following companies:

Institute “Dr Simo Milosevic” – AD Igalo

HG “Budvanska rivijera” – AD Budva

“Castello Montenegro” AD – Pljevlja

“Institut za crnu metalurgiju” AD – Nikšić

II. Also, The Privatization Plan for 2019. provides tourist sites or companies to be valorised through the public-private partnership:

Bay Masline – Bušat for cape Odrač, Municipality of Bar

Location between Njivice and Sutorina River mouth, Municipality of Herceg Novi;

Locality Donja Arza – Herceg Novi

Locality “Kabala for”, Municipality of Herceg Novi

Project for tourist valorisation of the locality “Mrkovi – Bijela Stijena”, Luštica, Municipality of Herceg Novi

Tourist complex Ecolodge Lovćen – National Park Lovćen, Cetinje.

By Jelena Vujisic, Partner, Vujacic

Montenegro Knowledge Partner

Law office Vujacic was founded in 1971, and in that time it was one of the first law firms in Montenegro. Today it is a modern business law firm with a long and proud tradition of supporting clients by high quality legal services in all areas of corporative, civil and commercial law. 

Our team of lawyers has shown a great success in areas such as: Mergers & Acquisitions, Telecommunications/Media, Intellectual Property, Administrative Law, Corporate Law, Finance Law, Competition Law, Real Estate, Dispute Resolution, Employment, Tax issues etc. 

As local counsel we have wide experience in all aspects of private and public corporate acquisitions and privatization. Our activities range from conducting due diligence reports, negotiations, preparing security documents and legal opinions.

The guiding principles of our Office are quality, confidentiality, efficient, timely, and cost effective services. We provide efficient legal representation to our clients both on regional and international levels.

All News about, and Legal Analysis by, Law office Vujacic can be found here.

Firm's website: http://www.lawoffice-vujacic.com/

 

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