Post on 13-Dec-2015
First Plenary SessionInvestment Policy and Infrastructure Projects
Investment challanges of Investment challanges of Montenegro Montenegro
Budva, Montenegro, April 14th 2008
Vujica Lazovic, PhD
Deputy Prime Minister for Economic PolicyGovernment of Montenegro
5th VIENNA ECONOMIC FORUM
»I believe that each mean which foster communication has strong effects in sense that people can learn from each other and achieve
freedom they are aiming« Bill Gates
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challlanges of Montenegro - 5th Vienna Economic Forum , Budva, 14 th April 2008
Welcome to Montenegro to Vienna Economic Forum!
Montenegro is a success story. The following data confirm this:◦Real GDP growth over 7%◦Unemployment rate about 11% ◦Inflation close to euro-zone level◦Foreign public debt 21% of GDP ◦FDI 1600€ per capita◦Credit rating BB+ ◦Stabilization and Association Agreement.
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5th Vienna Economic Forum , Budva, 14 th April 2008
Success starts with vision, ideas, ability to realize them, political wisdom which Montenegro recognized through:
◦Stimulating investment environment ◦Strong will to regain independence ◦Membership in EU
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
We realized on time that natural beauty of our country is not enough. To
construct competitive and stimulating institutional framework is real
challenge.
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Process has started by reforms:◦euro as official currency ◦stimulating tax policy ◦ liberalized prices ◦free flow of capital ◦privatization of 85% state property ◦activating of capital market ◦privatized banking sector ◦reformed education system, social insurance and labor market
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Time is element Time is element which is reality which is reality nevertheless nevertheless success or failure!success or failure!
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Development brings new challenges and responsibilities:
COMPETITIVENESS COMPETITIVENESS INFRASTRUCTUREINFRASTRUCTURE
STRUCTURAL UNEMPLOYMENT STRUCTURAL UNEMPLOYMENT REGIONAL DEVELOPMENTREGIONAL DEVELOPMENT
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Challenge 1: CompetitivenessInstitutional framework – prior comparative advantage
Further decrease of tax rates Eliminating the business barriers
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Challenge 2: InfrastructureTourism and development in general impose new
infrastructural solutions
Own energy sources Highways Regional water supply pipeline Treatment of solid waste and waste water
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Challenge 3: Structural unemployment»Generation« confronting of global trends to old system of
education
Human resources are the most important value of Montenegro Reforms aiming at increase of education system and labor market flexibility
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
Challenge 4: Regional developmentUndeveloped North vs. developed South
Young people and investors will be motivated to become actors of Northern Montenegro development by… ...Eligible investment conditions Construction of infrastructure Opening of university units which
will decrease the differences
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
OUR OUR
APPROACH?APPROACH?
Use own potential and think within
global processes as a
necessity in development
process.
»People always overestimate changes which will takes place in the next two years and underestimate those to happen in ten years. Therefore, let do not
allow to be silenced in inaction«, Bill Gates
Montenegro has started new cycle of
activities by new investments in high-end tourism through valorization of attractive
tourism locations Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
I am convinced that, upon realization of these projects,
Montenegro will have the highest economy growth rate in the highest economy growth rate in the
region!region!
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008
I wish you pleasant stay in Montenegro!
Vujica Lazović PhD, Deputy Prime Minister for Economic Policy, Government of MontenegroInvestment Challenges of Montenegro - 5 th Vienna Economic Forum , Budva, 14 th April 2008