Government prepares new companies privatization plan for 2023

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Podgorica – At today’s session, chaired by Prime Minister Dritan Abazović, the Council for Privatization and Capital Projects approved the Proposal for a Decision on the Privatization Plan for the coming year.

The Government announced that the plan determines the basic goals of privatization and other aspects of that process, methods and methods of privatization, with established lists of companies and the percentage of share capital for privatization.

“The main objective of privatization is to increase the competitiveness and efficiency of the functioning of companies, encourage foreign investment and entrepreneurship in all areas, increase employment and improve the standard of living,” the announcement states.

According to the model of selling shares and property through a public tender, it is planned to continue the procedure for the privatization of the “Simo Milošević” Institute, i.e. the sale of shares, which will continue in accordance with the ruling of the Administrative Court.

“Also, the preparation and implementation of public tenders for the privatization of the Hotel Group (HG) Budvanska Riviera, Castello Montenegro, the Institute for Ferrous Metallurgy, Montepranzo Bokaprodukt and the Durmitor Tourist Center are scheduled to begin,” the announcement specifies.

In the discussion, it was stated that the listed companies have very valuable state property, which has not been used in an adequate way in terms of creating new value, making profits, raising the quality of products and services, creating new jobs, and the like, which was the main motive for proposing their privatization.

“In this context, it was especially emphasized that in the continuation of the procedure, precise tender conditions and criteria will be determined for each company individually, which will ensure the realization of social and economic interests defined by the pre-set goals of privatization,” the statement added.

According to the model of selling shares through the stock exchange, it is planned to offer shares in the companies Agrotransport, Kotor – projekt, Metal produkt, Montenegroturist and Crnagoracoop.

The privatization plan will be submitted to the Government for consideration and adoption.

The Council considered other issues within its competence.

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