The Government of Montenegro, at the session held on 20, January 2023, passed Decision about The Privatization Plan for 2023 which was published in the Official Gazette No. 013/23 dated 3, February 2023.
Decision on Privatization Plan for 2023 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 companies, encourage foreign investments and entrepreneurship in all areas, increase employment and improve living standards, as stated in the Decision.
The document provides preparation and implementation of public procurements for the privatization of certain companies, also tourist sites or companies which will be valorized through the public-private partnership, and the sale of certain companies’ shares through the stock exchange is envisaged.
It is planned to continue the procedure for the privatization of the Institute “Dr Simo Milošević” LLC Igalo via the sale of shares. The privatization procedure will continue in accordance with the ruling of the Administrative Court.
Furthermore, it is planned to start the preparation and implementation of public tenders for the privatization of the following companies:
- HG “Budvanska rivijera” AD Budva (sale of shares),
- “Castello Montenegro” AD Pljevlja (sale of shares),
- “Institut za crnu metalurgiju ” AD Nikšić (sale of shares and/or recapitalization),
- “Montepranzo Bokaprodukt” AD Tivat (sale of shares) and
- “TC Durmitor” DOO Žabljak (sale of 100% stake).
It was emphasized by The Privatization and Capital Projects Council during the passing of the Draft Decision on the Privatization Plan for 2023 that listed companies have very valuable state assets that have not been used in an appropriate way in terms of creating new value, making profits, raising the quality of products and services, creating new jobs, which was the main reason for proposing their privatization. In this context, it was especially emphasized that precise tender conditions and criteria will be determined for each company individually.
Ultimately, the sale of following companies’ shares through the stock exchange is envisaged:
- AD “Agrotransport” – Podgorica;
- “Kotor – projekt” AD – Kotor;
- AD “Metal produkt” – Podgorica;
- AD “Montenegroturist” – Budva and
- “Crnagoracoop” AD – Danilovgrad.