Montenegro 2022 by Diplomacy&Commerce magazine

Montenegro - 2022 -

MONTENEGRO & SERBIA

STRONG UNDERSTANDING AND SOLIDARITY DRITAN ABAZOVIĆ

GORAN DJUROVIĆ

NINA DRAKIĆ

Prime Minister of Montenegro

Montenegro’s Minister of Economic Development and Tourism

PhD, President of the Chamber of Commerce of Montenegro

Montenegro 2022

TANJA BANKOVIĆ Editor in Chief

tanja.bankovic@color.rs

ILIJA PETROVIĆ INDIGOCHILD Art director

indigochild.ilija@gmail.com

NATAŠA NEŠIĆ

Advertising director

JOVANA MARKOVIĆ

MONTENEGRO FOLLOWS EU POLICY ONE HUNDRED PERCENT

jovana.markovic@color.rs

Prime Minister of Montenegro

natasa.nesic@color.rs

Advertising manager

DRAGANA RADOVIĆ Advertising manager

dragana.radovic@color.rs

OGNJEN TRMČIĆ

Advertising manager ognjen.trmcic@color.rs

NIKOLA PAVLOVIĆ Journalist

nikola@ diplomacyandcommerce.rs

ROBERT ČOBAN Director

robert.coban@color.rs

Translation

SNEŽANA BJELOTOMIĆ Print

ZLATNA KNJIGA Jagodina, Bagrdanski put bb

DIGITAL DEVELOPMENT AS AN OPPORTUNITY FOR LONG-TERM SUCCESS

Goran Djurović

Montenegro’s Minister of Economic Development and Tourism

HAVE SUBSTANTIAL GREEN 16 WEENERGY POTENTIAL Nina Drakić

PhD, President of the Chamber of Commerce of Montenegro

Economy

Cooperation

Porto Montenegro

Danica Banjevic

Director of Tivat Tourist Board

MYTHS BECOME 30 WHERE REALITY

GROUP’S LEADING-EDGE 19 NELT TECHNOLOGY IN MONTENEGRO OF OPERATING COSTS 20 POLICY RATIONALIZATION 32 ORO AND SINGING WITH GUSLE CROWNED TWO35 GOLDEN HEADED EAGLE PORTONOVI - A MEDITERRANEAN 23 SUNSETS AND COASTAL PARADISE FOR INVESTORS 38 STORMS AND HEDONISTS Vladimir Marinković

Nelt Group

General Manager, Huma Kotor Bay Hotel & Villas

Culture

Radoje Žugić

Governor of the Central Bank of Montenegro

Tradition

Tourism

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Portonovi Montenegro

MONTENEGRO 2022

Photos

GORAN ZLATKOVIĆ GETTY IMAGES

Dritan Abazović

24 26 GROWING TRADE MONTENEGRO 27 PORTO – A LIFE LESS ORDINARY TIVAT - A PERFECT 28 COMBINATION OF TRADITIONAL AND MODERN TOURISM AND A STEP FURTHER

INTOLERABLE WINTERS

This is the reason why the country sees a drop in tourism during these months.

06 SMOKED PROSCIUTTO

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MONTENEGRO 2022

The star of Montenegrin food is always smoked prosciutto ham from Njeguski, a mountain village about half an hour from Kotor via a snaking road.

F ORMER GHOST TOWN

The spectacular little fortified island of Sveti Stefan, a few miles south of Budva, was once home to around 400 people. Emigration took its toll and the population dwindled to around 20 by 1954.

MAUSOLEUM OF PETER II PETROVIĆ NJEGOŠ Officially the highest mausoleum in the world is seating at a height of 1,660 meters on the Jezerski Peak.

OSTROG

The monastery of Ostrog, located above the Bjelopavlic valley, is one of the most visited shrines in the Christian world.

BIRD-WATCHER’S PARADISE Montenegro’s Lake Skadar is home to over 270 bird species and is a vitally important stop for migrating birds.

07 VALUES

Family life and values as well as clan and tribal identities are things that are highly regarded in Montenegro.

BRAD PITT’S FIRST ROLE MONTENEGRO 2022

Way back in 1988, Pitt started his movie career in Montenegro. The Dark Side of the Sun was Pitt’s debut as leading man in a movie filmed in Kotor.

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INTERVIEW

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MONTENEGRO FOLLOWS EU POLICY ONE HUNDRED PERCENT DRITAN ABAZOVIĆ

Prime Minister of Montenegro

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MONTENEGRO 2022

Montenegro is a leader in the European integration process and I am confident that our experiences can be useful to other Western Balkan countries in the accession process

fter the first official visit of the Prime Minister of Montenegro, Dritan Abazović, to Serbia, we spoke with this young leader whose approach to politics brings a long-awaited and very important change in our region. In the interview for our magazine, Mr Abazović spoke about the ever-improving relations between Serbia and Montenegro and the possibility of Montene-

gro joining the Open Balkans initiative. He also talked about Montenegro's relations with its neighbours, the signing of a fundamentally important agreement with the Serbian Orthodox Church, his political enemies and his views of different and often conflicting policies. You were quoted as saying that “the Open Balkans initiative is a child of

the Berlin Process". Do you think that if Montenegro joined this initiative, it would expedite its EU accession? What do you think are the benefits of Montenegro joining the Open Balkans? Montenegro is a leader in the European integration process and I am confident that our experiences can be useful to other Western Balkan countries in the

accession process. Likewise, I believe that there is no better country for reviving the EU enlargement policy than Montenegro, a Mediterranean country with a conciliatory character, a population that would not cause negative effects on the EU itself and that is a positive example in many aspects. In terms of the Open Balkans initiative, the Government and I, as the Prime Minister, gave a task to the Ministry of European Affairs to create a working group that will draft an analysis that will assess the positive and negative effects of the Open Balkans initiative on Montenegro. I think that the initiative can bring a lot of positive effects that the Western Balkans need like fewer borders, better economic cooperation and improved neighbourly relations. I also believe that this is in line with the Berlin Process and can only benefit the Western Balkans' integration into the EU. On 29th June, following the invitation of Prime Minister Ana Brnabić, you had your first official visit to Serbia since you became the Prime Minister of Montenegro. What did you discuss with the Serbian officials and is this meeting the first step towards the normalization and progress of relations between our two countries?

A few days ago, the Government adopted the proposal regarding a harmonized text of the Basic Agreement between Montenegro and the Serbian Orthodox Church. We can say that the Agreement is fully in line with our state's Constitution and laws and that it provides comprehensive protection

I PROMOTE THE POLICY OF PEACE, COEXISTENCE AND COOPERATION IN THE WESTERN BALKANS. I KNOW THIS IS A SISYPHEAN TASK, BUT YOU HAVE TO START SOMEWHERE of Montenegro's national interests, while, at the same time, giving the SOC the same rights and obligations that all other religious communities have in our country. We are closing a topic that has been a burden on our society for a decade and we are looking toward the future and topics concerning the development of Montenegro and the region. You are often labelled as an Albanian who has a more favourable approach to Serbia than many Montenegrins. You want to prove that cooperation between Serbs and Albanians is possible. In the light of the dialogue, will the policy of the Montenegrin government towards Kosovo and Metohija remain the same?

In Davos, and recently in Ukraine, you met your Albanian counterpart, Edi Rama. Could you tell us something about the relations between Montenegro and Albania? Relations between the two countries are traditionally excellent and have improved a lot in the past period. Just like with Serbia, we have been developing our cooperation on mutual trust and stronger economic and infrastructural connections. During our meeting in Ohrid, at the summit of the Open Balkans initiative, we presented a joint project for the construction of a bridge over the Bojana River that will reduce the distance between Ulcinj and Velipojë from the current 73km to just 1km. This is our vision - bridges that connect and make borders invisible. Almost two years ago, the Montenegrin government changed when the opposition defeated the Democratic Party of Socialists (DPS). In your speech back then you said that DPS voters were not enemies. What kind of relations do you have with the still current President of Montenegro, Milo Djukanović? To what extent is it possible to implement the government's plans while having a president from another party? The government I helm, the political entity I represent and I personally have no enemies of that kind. We can be political rivals, but not enemies. That’s a narrative from an ugly past. We have a differ-

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I choose not to dwell on almost daily labelling of myself coming from almost every national group. I promote the policy of peace, coexistence and

cooperation in the Western Balkans. I know this is a Sisyphean task, but you have to start somewhere. I am not interested in the national, religious or political affiliations of people. We are people first of all, and only then Montenegrins, Serbs, Albanians, Bosniaks... Accordingly, I conduct the state’s policies, talk to people and look for the best solutions to get out of difficult situations. Montenegro completely follows the EU’s policy concerning the Republic of Kosovo, with whom we have good cooperation on several grounds and with whom we will further improve relations and work on much better infrastructural connectivity.

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We discussed the necessity of normalizing relations between the two brotherly states and intensifying economic cooperation in several aspects. There is definitely been progress in relations and we will soon appoint new ambassadors and establish payment transactions. A large segment of all the talks in Serbia concerned the upcoming economic crisis this autumn and the strategy of how the region and the two countries can best deal with it, as well as infrastructural connectivity. These are the topics on which we should base our cooperation in the future. I believe that this will initially imply a departure from the politics of hatred and division that characterized the region in the past. Cooperation in agriculture, environmental protection and the IT sector is also something on which our collaboration will develop in the future.

Negotiations on the Basic Agreement, on the back of which Montenegro should resolve the property-related and legal issues with the Serbian Orthodox Church (SOC), have been ongoing for ten years. Are we going to see the resolution of this decades-old issue soon?

ed as the opposition were the fight against crime and corruption. Is that fight still a priority and what measures are you taking to implement that plan? Economic development, the European integration process and the fight against crime and corruption are the main proclaimed lines of action of the 43rd Government of Montenegro. I believe that these aspects are intertwined. In the previous period, we fought and won for Montenegro to have the Law on the State Prosecutor's Office, which enabled the required changes to happen in a crucially important institution for the fight against crime and corruption. Today, this is an independent institution that has already achieved visible results. Nevertheless, the issue of the Judiciary will be completed when we reach a political consensus with 2/3 or 3/5 of the parliament members and elect a full-term Supreme State Prosecutor, new members of the Constitutional Court and the Judicial Council and unblock the work of the institutions necessary for the regular operation of the state apparatus.

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ent, inclusive policy where everyone is welcome. Montenegro must reconcile, but on clear grounds – it has to be a civil, environmentally friendly, EU-centric Montenegro, which opposes organized crime and corruption. Relations between the Prime Minister and the President of Montenegro are professional. In 2020, for the first time in its history, the country experienced what is called cohabitation in political theory, and this is good for the democratic progress of any society.

WE CAN BE POLITICAL RIVALS, BUT NOT ENEMIES. THAT’S A NARRATIVE FROM AN UGLY PAST. WE HAVE A DIFFERENT, INCLUSIVE POLICY WHERE EVERYONE IS WELCOME

The main topics that you represent-

You also said that relations with Serbia are a priority and that you are ready for strong cooperation in all segments of mutual interest. How can the relations between our two countries improve and how will the cooperation between Serbia and Montenegro develop in the coming period? Our relations must be based on the future, not on the past, on joint projects and visions that will change the Western Balkans, as well as facilitate a faster and better flow of goods, services, and transport. I think the recipe for a better future is simple. 

THE RIGHTS WE SEEK FOR OURSELVES MUST BE GIVEN TO OTHERS TOO Diplomacy&Commerce magazine interviewed the Prime Minister of Montenegro, Dritan Abazović, at the moment when, on the internal front, there was a lot of controversy surrounding the signing of the Basic Agreement with the Serbian Orthodox Church. The destiny of this agreement remains uncertain after Milo Djukanović's Democratic Party of Socialists (DPS) confirmed that they would not vote in favour of the Agreement. Mr Abazović, however,

advocates that this issue, "which has been burdening our society for a decade", finally be closed and that we focus on the future. As he has said in many previous statements, he believes that the rights we seek for ourselves must be given to others too. This is exactly what the Serbian Orthodox Church Patriarch, Porfirije, also said, namely, that the Serbian Orthodox Church does not ask for more or less than what other religious communities have.

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INTERVIEW

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DIGITAL DEVELOPMENT AS AN OPPORTUNITY FOR LONG-TERM SUCCESS GORAN DJUROVIĆ

Montenegro’s Minister of Economic Development and Tourism

Digitization is important for our economy, healthcare, education and for all citizens of Montenegro, and in the coming period we must do more to raise digitization to an even higher level

or our edition InFocus, we spoke with Goran Djurović, Montenegro’s Minister of Economic Development and Tourism, about the digitalization of Montenegro, the Open Balkans initiative, EU accession chapters and tourism and economic cooperation with Serbia.

The summit of the Open Balkan initiative was recently held. How do you feel about the idea of Montenegro joining the initiative, as an EU membership candidate?

The economic and monetary policy chapter was opened in 2018, and the monitoring mission assessed that more effort needs to be invested for this chapter to be closed. How far have you come with that and does the current Montenegrin government intend to close the said chapter during its term? In terms of the EU accession process, which began in 2012, Montenegro has advanced the furthest of all the Western Balkan countries. We have so far opened 33 chapters and temporarily closed three. Chapter 17 - Economic and Monetary Policy - was officially opened in 2018 and negotiations on this chapter are ongoing. To fulfil the requirements under this chapter, we need to improve the country’s macroeconomic stability, the stability of public finances and boost the competitiveness of its economy.

WE ARE DETERMINED TO EXPEDITE THE EUROPEAN INTEGRATION PROCESS AND BE GRANTED EU MEMBER STATUS

Montenegro's vision is to become the country with the fastest digital development in the region. What steps will you take to achieve that? Digital development in Montenegro is recognized as an opportunity for the long-term success and prosperity of the entire society. Digitization is important for our economy, healthcare, education and all citizens of Montenegro, and in the coming period, we must do more to increase digitization to an even higher level. By doing so, we are going to reduce the bureaucracy and simply administrative matters for our citizens. The basis of Montenegro’s digitalization and rapid development lies in the fact that we are one step ahead of the regional countries in the implementation of the 5G network, which will positively affect the lives of our citizens, as well as the quality of services. Trial 5G networks have already been installed, and a frequency auction for the 5G network will be launched in the second half of the year. Once that is done, we will make a big step forward and be perhaps the leading Western Balkan country in the implementation of the 5G network. Our operators are very agile and show great interest in the 5G network being put into operation as soon as possible. I expect that this process will be completed very quickly. I am also confident that Montenegro’s future rests on digitization and that digitized processes and services will benefit both citizens and the economy. We also want these services to be aligned with global standards and this is something that both the government and all system institutions will take part in. You said that the relations between Montenegro and Serbia should be further elevated. Where are the opportunities for improving cooperation in the economy and tourism?

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I would like to remind you that, in this chapter, Montenegro had two initial benchmarks, which were both implemented. Furthermore, a lot of effort is being invested in meeting European standards, harmonizing the legal framework, fulfilling the criteria of a functional market economy and creating the conditions for closing this chapter. We are determined to expedite the European integration process and be granted EU member status. In this sense, we do not expect to have a privileged position, but objective recognition of the effort we have been investing in this process. We are determined to compensate

for a long period of stagnation and setbacks in certain areas in the process of negotiations between Montenegro and the EU with real results and the serious commitment of the 43rd Montenegrin government for Montenegro to become the next EU member.

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Our biggest foreign policy goal is EU membership and any alternative or obstacle on this path is not and will not be our choice. Montenegro needs an open road to Europe, a smooth process of integration, the rule of law, suppression of the shadow economy and corruption, a better standard of living and a society in which people trust in the institutions of the system and feel safe. I would like to underline that the Montenegrin government is only interested in protecting and taking care of the country’s national interests and the best interest of its citizens. If it turns out that our interests are respected and reflected in a more stable region and the Open Balkans initiative, we will support and join it. Furthermore, the Montenegrin government will form a Working Group that will consist of representatives of several ministries and whose task will be to analyze in detail and assess the extent to which the Open Balkans initiative is in line with the goals related to the country's membership in the European Union. As long as this initiative remains in its original form, i.e. as an economic project that focuses on people from the region, citizens and business, and does not become a political project, there is a chance that strong understanding and solidarity can prevail in our relations, which was not exactly a characteristic of the Western Balkans in the previous period. This will be the greatest victory for the idea of the Open Balkans, and I believe that this initiative represents a serious opportunity for the region to change its reality and overcome the challenges it faces. Additionally, it

can be an opportunity to expedite the EU accession process because it facilitates economic cooperation between the regional countries.

MONTENEGRO 2022

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First of all, I would like to underline that Serbia is an important strategic and economic partner for Montenegro and that it is completely natural for us to have much better cooperation, not only in the economy and tourism but in all segments, such as transport connectivity, road and railway network, investments, IT sector, renewable energy, etc. I appreciate that the relations between Montenegro and Serbia are as close and friendly as possible, as they should be in the future, and that they are nurtured in the spirit of cooperation and partnership, which would ultimately result in numerous benefits for the economy and citizens alike. I also said this during my first working visit to the Republic of Serbia. Therefore, our two countries have a lot of potential for improving overall cooperation. Still, the economy is a fundamental issue and at this moment, the most important thing is to base the relationship on economic cooperation. In the context of the market and the flow of goods, improving infrastructure is certainly something that contributes to the development of our two countries, along with all the things that we do internally in order to create the best possible market environment. Continuing to boost the trade between the two countries, with the stability of supply as well as greater participation of Montenegrin products in the Serbian market, are our priorities in the coming period. In terms of tourism, Serbia remains one of the most important markets for Montenegro. A large number of tourists from Montenegro visit Serbia, especially during winter, while a substantial number of tourists from Serbia visit Montenegro during the summer season. I hope they return home with good impressions. Our goal is to extend the tourist season and welcome the guests from Serbia with new offers and tourist attractions throughout the year. The Health Tourism Development Programme has been presented too. When is it going to be implemented? Health tourism is recognized as one of the types of tourism that can contribute to the diversification of Montenegro’s

HEALTH TOURISM IS RECOGNIZED AS ONE OF THE TYPES OF TOURISM THAT CAN CONTRIBUTE TO THE DIVERSIFICATION OF MONTENEGRO’S OVERALL TOURIST OFFER overall tourist offer and turn the country into a year-round tourist destination. The importance and need for health tourism have especially come to the fore in the post-Covid period, primarily in terms of its contribution to general health, i.e. from the aspect of disease prevention, health preservation and restoration of a healthy lifestyle. Montenegro has great potential for development in health tourism. Furthermore, we are widely recognized for our Dr Simo Milošević Institute, especially in Scandinavia. Apart from a prevention and rehabilitation programme, the Institute has wellness and recreational facilities. This is precisely our goal, i.e. to have a more diverse offer of these types of accommodation, including hotel capacities, in Montenegro.

Since health tourism is not seasonal in nature, it gives us an excellent opportunity to increase our pre- and post-season tourist stays, and therefore the turnover that that generates. A new working group for the promotion of tourism in Serbia and Montenegro has been formed. What kind of tourist season do you expect when it comes to visits by Serbian tourists? The interdepartmental working group for the promotion of tourism aims to step up the ongoing campaign and strengthen the ties between the two countries in this area. Through regional cooperation and joint action and offer, the goal is to attract tourists, especially from new markets, such as those from Asia, Canada, America, etc., who find a joint regional offer more appealing than an individual one. We must not forget that the Serbian market is crucial for Montenegro in terms of the number of tourists. According to the data collated by the Montenegrin Statistical Office (MONSTAT), t total of 430,000 tourists from Serbia visited Montenegro last year. Given that the situation with Covid-19 is much better this year, and that there are more flights between the two countries, I expect that we will accomplish better results this year relative to the last one. 

INTERVIEW

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WE HAVE SUBSTANTIAL GREEN ENERGY POTENTIAL NINA DRAKIĆ

PhD, President of the Chamber of Commerce of Montenegro

Relying more heavily on our own resources and production capacities, and their upgrading and more efficient utilization, is the way to faster economic development n this inter view, Nina Drakić, president of the Chamber of Commerce of Montenegro (CCM), talks about the current economic situation in Montenegro, accelerated economic development and trend projections, as well as the relations between the CCM and the Chamber of Commerce and Industry of Serbia (CCIS) and the change in the structure of the Montenegrin economy.

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The Chamber of Commerce of Montenegro celebrated 94 years of successful operations. What is the current economic and social situation in Montenegro like? Celebrating our 94th anniversary reminded us of the Chamber’s rich tradition. It was an opportunity to highlight the partnership with everyone with whom we have been building a better future for our economy. The government and institutions are our natu-

ral partners, as are civil society institutions and the media. The last two years were marked by a health crisis, which also caused an economic crisis. During that period, we were a reliable partner to all interested parties to mitigate the negative effects on our economy. In addition to measures to support the economy and citizens, we have devoted our

WE PROVIDE SUPPORT TO COMPANIES IN THE PROCESS OF TRANSITION FROM LINEAR TO THE CIRCULAR ECONOMY AND BUSINESS TRANSFORMATION TOWARDS GREEN AND DIGITAL

know-how to starting an investment cycle, proposing timely and effective economic policy measures and working on strategic issues of importance for economic progress. It is clear that the upcoming period will demand from us stronger and more solidary responses than those we would give under regular circumstances. It has been said that Montenegro must follow the path of accelerated economic development. In which way does the Chamber of Commerce try to help and sublimate the demands of the Montenegrin business community? Relying more heavily on our own resources and production capacities, and their upgrading and more efficient utilization is the way to faster economic development. Economic branches like agriculture, energy, tourism and green business, i.e. the circular economy, all have great potential. We contribute to

that plan by implementing numerous activities. The Chamber participates in the preparation of draft laws and other regulations, proposes to the Government the adoption of programmes and measures to support the economy, prepares analysis of macroeconomic trends and gives recommendations for improving the business environment. Our goal is to respond to the economy’s needs and point out to the authorities the challenges it faces, while, at the same time, proposing solutions. I would like to point out the Chamber’s activities regarding digital transformation and green and circular economy, recognizing them as prerequisites for accelerated recovery, higher competitiveness and economic development. We provide support to companies in the process of transition from linear to the circular economy and business transformation towards green and digital. We actively participate in the creation of curricula which educate future human resources with the knowledge and competencies needed to meet the challenges of modern digital and green business. The Chamber plays an important role in boosting cooperation between the state, and the scientific and business community in the development of innovative activities and the creation of an innovative society. The Chamber has held the European Projects Fair in an effort to promote European values. What benefits does Montenegro have from EU support?

WE CAN EXPECT THE MONTENEGRIN ECONOMY TO CONTINUE ITS RECOVERY FROM THE DEEP RECESSION CAUSED BY THE COVID-19 PANDEMIC

I would like to single out projects that will get us closer to the young generations, which also imply significant financial assistance to schools along with the establishment of very useful cooperation between vocational high schools and companies, and facilitates the mobility of students. If we take into account that 50 institutions, organizations and companies, that had been implementing several projects, took part in this year's Fair, we can conclude that Montenegro recognizes and uses the opportunities offered to it through this framework. What are the projections for this year, taking into account the war in Ukraine?

The war that broke out in Ukraine at the beginning of this year has contributed to a significant slowdown in global growth, as seen in the latest reports of international institutions. The IMF has revised the global economic growth rate in 2022 to 3.6%, which is 0.8 p.p. lower compared to the previous report. Large increases in commodity prices and continued supply disruptions are pushing inflation up while reducing household incomes and corporate profits. New risks are coming from the escalation of conflicts and disruptions of critical energy flows. Regarding the Montenegrin economy, the IMF has lowered its growth estimate this year from 5.6% to a moderate 3.8%, while in the next period, the IMF predicts a 4.2% growth. The World Bank has also lowered its forecasts for economic growth by almost one-third, and it is expected that the global GDP will grow at a rate of 2.9% this year. Given that inflation in many countries has reached record levels, and that supply is expected to grow slowly, there is a danger that high inflation will persist longer than currently forecast. Among the numerous risks that threaten global economic growth, the growing geopolitical tensions, financial instability, disruptions in the supply chain and the risk of stagflation, i.e. a period of high inflation and weak economic growth, stand out. The growth forecast for the Montenegrin economy has been lowered to 3.6% (2.0 p.p. lower) in 2022, i.e. 4.7% (0.1 p.p. lower) in 2023. What kind of cooperation do you have with the Chamber of Commerce and Industry of Serbia and how can relations be even better? We have high-level cooperation with the Chamber of Commerce and Industry of

COOPERATION

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We have high-level cooperation with the Chamber of Commerce and Industry of Serbia, just like with all the chambers of the Western Balkan countries.

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Recognizing the importance of implementing projects that are financed from EU funds through various programmes, the Chamber initiated the European Projects Fair in 2021. The intention was to present what we do when it comes to these projects, as well as to promote Eu-

ropean values. The idea was supported by the Ministry of European Affairs and the Delegation of the European Union in Montenegro, which just validates the Fair’s quality. The implementation of projects in which the Chamber participates helps us to improve our own capacities and those of our members and also creates the opportunity for companies to be externally engaged in the execution of certain tasks.

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Serbia, just like with all the chambers of the Western Balkan countries. In addition to the idiosyncracies that our countries and economies have, we share similar concerns and challenges and we all strive towards the same goal – EU membership. In the case of the Chamber of Commerce and Industry of Serbia, apart from bilaterally, we also cooperate intensively through the Chamber Investment Forum ZB, which was formed on the sidelines of the Western Balkans Summit in Vienna in 2015. In addition to this, we are jointly implementing a number of projects financed by the European Union, and we are also preparing activities with which we will act synergistically when it comes to the green economy. The existing mutual commitment to fostering a good connection between our two economies and the willingness to exchange experiences in all segments are a guarantee that in the future our cooperation will further improve.

You are the first woman to ever helm the Chamber of Commerce of Montenegro. What kind of reception did you get when you were appointed to this position? Gaining the trust of the business community to represent and lead the Chamber in the next four years makes me proud. It is also a pleasure, of course, that I am the first woman at the head of an institution that, for almost a century, has been bringing together the entire Montenegrin economy and representing its common interests. At the same

GAINING THE TRUST OF THE BUSINESS COMMUNITY TO REPRESENT AND LEAD THE CHAMBER IN THE NEXT FOUR YEARS MAKES ME PROUD time, I have an obligation and a motive to contribute to improving the Chamber’s work and position. On the back of the previous work and achieved results and through the modernization of its services, the Chamber will be a better and more efficient service to the Montenegrin economy. I think that success depends on the ability and willingness to work committedly and diligently and to take on the burden of responsibilities and decision-making even in complex situations, irrespective of gender. I enjoy the trust of those who elected me to this position and I try to cultivate an open relationship with them. I am also open to receiving criticism, suggestions and commendation. You have announced that the structure of the Montenegrin economy has to change. What results do you predict for this year? Prices of all types of energy, raw materials and agricultural and food products have risen sharply and there has

been a threat of shortages several times, which further highlighted the need for structural reforms, i.e. the diversification of economic activity in our country, as a prerequisite for increasing the economy’s general resistance to external shocks. We see the greatest potential for creating more sustainable growth in four areas, which the Smart Specialization Strategy defines as key priorities: sustainable agriculture and the food value chain; energy and sustainable environment; sustainable and health tourism; and the ICT sector as a horizontal priority. Prerequisites for the growth and sustainable development of domestic companies include an adequate regulatory framework, easier access to financial resources, combatting shadow economy and harmonization of the education system with the needs of the labour market. Providing support to the economy is necessary in order to continue the reforms related to green transition, energy efficiency, digitization and food production. This year, we need to work on adjusting, that is, directing the legislative framework that should be stimulating for the development of priority areas. In the current geopolitical moment, green energy is especially important for Montenegro, as we have a great potential for the production of such energy, while the development of tourism and agriculture must go hand in hand. It is very important that the main drivers of economic growth in Montenegro, tourism and foreign investments, recorded growth this year so far. Namely, in the first four months of this year, the number of tourists in collective accommodation increased by 171.9%, while the number of overnight stays went up by 197.3%. The foreign direct investment influx during the first four months of 2022 was 28.8% higher than the previous year, while net investments were 77.9% higher. This was also reflected in the labour market, so the average number of employees in this period went up by 23.2%, while the number of unemployed persons in late May declined by 14.5%. We can expect the Montenegrin economy to continue its recovery from the deep recession caused by the Covid-19 pandemic. 

CORPORATE

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NELT GROUP’S LEADING-EDGE TECHNOLOGY IN MONTENEGRO Reliability, Efficiency, and Decades of Experience are the Foundation of Our Success

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jective of fulfilling the distribution ideal - 100% of products in 100% of points sale in 100% of time. In collaboration with foreign partners, Montenomaks organizes transport of goods and shipments from all European destinations. The organization of seven regular groupage transport lines ensures that shipments ar-

The understanding of social responsibility is based on ethical business and the aspiration to help create a better environment for employees, partners and the wider community

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rive quickly and safely to the desired address. Regular groupage transport lines from Serbia, Bosnia and Herzegovina, Austria, Croatia, Kosovo and Albania utilize 12 vehicles per week. From Western and Central Europe, shipments travel to Montenegro three times a week, via platforms in Austria and Croatia. Over 2,500 shipments are transported annually. As a licensed agent of global cargo leaders, FedEx and TNT, Montenomaks

has upgraded its offer of express services. Because FedEx and TNT service millions of express delivery requests worldwide, this collaboration enables Montenomaks to provide its customers with superior quality and access to a combined network of transportation solutions in over 220 countries located throughout Europe and worldwide. Nelt Group's storage infrastructure in Montenegro spans 11,500m2 and has different temperature regimes and types of storage - 7,000m2 in Podgorica and 4,500m2 in Danilovgrad. The facilities are equipped with leading-edge warehouse equipment and technology, including WMS Gold, and Pick by Voice - a system for commissioning goods through voice commands. In addition to focusing on growth, development and financial parameters, Neregelia and Montenomaks strive to contribute to their community. The understanding of social responsibility is based on ethical business and the aspiration to help create a better environment for employees, partners and the wider community. Together with their partners, they collaborate with eminent organizations and chambers in the country, establishing cooperation with the state, educational and health institutions, focusing on those that provide aid to the youngest population. 

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eregelia and Montenomaks C&L both operate under Nelt Group, a corporation that connects distribution, logistics and production companies under the same corporate umbrella, operating in 12 markets in Europe and Africa and employing over 4,500 people. Year after year, with dedicated and continuous efforts focused on the upgrading of their services, the Companies are achieving better and better business results. They are perceived as reliable partners both by principals and clients in the field of distribution and logistics, in Montenegro and abroad. Neregelia and Montenomaks C&L are recognized as reliable partners of the Customs Administration of Montenegro, which has granted them the status of Authorized Economic Operator (AEO), enabling shorter customs clearance time at border crossings and, therefore, faster delivery of goods to business facilities. As the leading distributor in Montenegro, Neregelia daily delivers 2,300 products from a wide product portfolio of 25 principals, including P&G, Mars, Philip Morris, Mondelez, Kraš, Sebapharm, Neoplanta, BFF, Kopa and JDE. Within 24 to 48 hours, the company's 100 company vehicles can reach up to 400 points of sale, with the ob-

INTERVIEW

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POLICY OF OPERATING COSTS RATIONALIZATION RADOJE ŽUGIĆ

Governor of the Central Bank of Montenegro

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We believe that this year we will be able to generate a planned profit, which validates the continuity of our successful and responsible operations.

e talked with Radoje Žugić, the Governor of the Central Bank of Montenegro, about the diversification of the Montenegrin economy, harmonization with EU policies and cooperation with the National Bank of Serbia (NBS).

You have stated that, due to the crisis caused by the war in Ukraine, the Montenegrin economy's dependence

on imports and its insufficient diversification were sources of potential risks. How do you intend to prevent these types of risks?

ALL PLANNED REVENUE ITEMS ARE REALIZED, EVEN BEYOND THE PLAN

After one crisis peaked, the world was hit by a new, even stronger crisis caused by the war in Ukraine, the consequences of which are incalculable. Global supply chains are in jeopardy and risk further collapse. The war caused the enormous growth in prices of a large number of products, predominantly food, energy and building materials. This, in turn, led to the highest inflation globally since the oil crisis of the 1970s. This situation was also reflected in the finan-

cial markets, which recorded a marked decline in almost all securities. In such conditions, the insufficiently diversified economy, with the dominant share of service activities in the gross domestic product, such as the Montenegrin one, becomes even more vulnerable. As a consequence of this situation, our economy is highly import-dependent and with a high current account deficit which is covered by a surplus in tourism, remittances from abroad and substantial foreign direct investments. The Central Bank of Montenegro (CBM) has previously pointed to these vulnerabilities, primarily by giving the Government economic policy recommendations. We proposed to have the phased diversification of the economy per its branches in which Montenegro has comparative advantages, such as manufacturing, energy, agriculture ... Also, we believe that the IT sector and green economy have the potential for generating more sustainable growth. I think that this process must be implemented immediately because the diversification of the economy is a prerequisite for boosting its resilience to external shocks of any kind, but also for its growth and development. Russia is the biggest foreign direct investor in Montenegro, as the country's investments amounted to 82.58 million euros. How much will the war in Eastern Europe affect Montenegro, in the context of the harmonization with the EU policy?

IN THE PREVIOUS PERIOD, THE CBM AND THE NBS HAVE HAD SUCCESSFUL TECHNICAL COOPERATION In terms of external trade, the impact is negligible. Namely, our exports to Russia amounted to only 2.3 million euros, and imports to 10.6 million euros in 2021. Also, for now, there is no negative impact on the banking system. You said that the systemic weaknesses of the banking system were resolved before the pandemic and that you are approaching full harmonization with the EU legal system. What are the next steps on that path? Anti-crisis measures designed and implemented by the CBM have been positively evaluated by a number of international institutions, such as the Euro-

pean Commission (EC), the European Central Bank (ECB), the International Monetary Fund (IMF), the World Bank and others. The banking sector has shown good resilience to the shock caused by the COVID-19 pandemic and has remained stable, as a result of the good pre-crisis situation and carefully designed and successfully implemented support measures. At the same time, we are committed to continuously harmonizing the legal and institutional framework with EU criteria and standards. In the recent evaluation of the Economic Reform Programme of Montenegro for 2022 by the European Commission and the ECB, progress was noted in terms of harmonization with EU regulations, which was predominantly due to the Law on Credit Institutions and the Law on Rehabilitation of Credit Institutions entering into force in January 2022. In the segment of payment operations, the Law on Amendments to the Law on Payment Operations is expected to be adopted soon, which fully incorporates the PSD2 Directive. With the adoption of this law, the Montenegrin regulatory framework on payment operations will be fully harmonized with the acquis communautaire in this field. Simultaneously, we are constantly working on building capacities, especially in the segment of the supervisory function, as well as on the prevention of money laundering and terrorist financing. Due to the dynamic development of technology and unpredictable circumstances, as well as the constant changes in the business environment, the financial sector is constantly facing new challenges. Therefore, regulations in this area are often revised and improved to adapt to new circumstances. The CBM has been continuously

BUILDING CAPACITIES

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Simultaneously, we are constantly working on building capacities, especially in the segment of the supervisory function, as well as on the prevention of money laundering and terrorist financing.

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The war in Ukraine will certainly have negative consequences for Montenegro, as well as other countries in the region and the EU. Unfortunately, due to the high degree of uncertainty about future developments, precise quantifications of this impact are not possible.

Negative consequences could be a reduced FDI influx from these countries, as well as a reduced number of tourists from Russia and Ukraine. Data for the first four months of this year, however, show that the influx of foreign direct investments from these countries went up compared to the same period last year, with the share of Russian investments in the total FDI influx standing at 13.5% and Ukraine at 1.7%. The impact of the current crisis on the influx of tourists from these countries is also uncertain. As a result of the war in Ukraine, a large number of Russian and Ukrainian citizens came to Montenegro, planning to stay here longer, compared to a standard tourist stay.

tioned, we believe that we will succeed this year to generate a profit in the planned amount despite the adverse environment caused by the pandemic and the war in Ukraine, which confirms the continuity of our successful and responsible operations. What kind of cooperation do you have with the National Bank of Serbia (NBS)?

monitoring these changes and strives to incorporate them into the domestic regulatory framework as soon as possible, all to preserve the financial and thus macroeconomic stability of Montenegro.

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The CBM's financial plan for this year stipulates a profit of 2.15 million euros, which is 780,000 euros more than last year. On what basis do you expect such growth, given the ongoing crisis?

The planned profit in the amount higher than in 2021 is the result of the expected higher growth of revenues compared to the growth of expenditures this year. Namely, our financial plan for the current year, projected revenue growth of 7%, while the expected expenditure growth is 3%. Such a plan is based on the expectation that this year we will have higher income from interest on securities, as a result of changes in the monetary policy of the ECB, i.e. the gradual increase of benchmark interest rates. Furthermore, we planned to increase revenues from fees for payment services by 17% com-

Our institutions face similar tasks, so the exchange of experiences on several issues, such as the EU integration process, the adoption of banking standards and the like, would be mutually beneficial. The CBM is absolutely open to all initiatives that lead to increased financial stability in Montenegro and the region. In the previous period, the CBM and the NBS have had successful technical cooperation, through bilateral visits, exchange of experiences at all levels and mutual support within regional initiatives. Unfortunately, due to the impact of the pandemic, bilateral cooperation has not been so intense in the last two years.

THE CBM CONTINUOUSLY IMPLEMENTS MEASURES RELATED TO ITS INTERNAL ECONOMY AND THE POLICY OF RATIONALIZATION OF OPERATING COSTS pared to the 2021 plan, because, due to the expected economic growth and return of tourism revenues to the pre-crisis level, we expect higher volume and number of payment transactions. The expected revenue increase has a realistic basis which is validated by the data on revenue from the first five months of 2022. Namely, all planned revenue items are realized, even beyond the plan. On the other hand, the CBM continuously implements measures related to its internal economy and the policy of rationalization of operating costs. Bearing in mind the aforemen-

Montenegro and Serbia are both EU candidates. Are there opportunities for the Central Bank of Montenegro and the National Bank of Serbia to support each other during the harmonization with European policies? The CBM and the NBS are cooperating on this issue, within the regional project for central banks and banking supervisors located in the Western Balkans. The project, coordinated by the Federal Bank of Germany, with the support of the ECB, is aimed at boosting the monetary and financial stability in the region and preparing beneficiary institutions for future membership in the European System of Central Banks. After the completion of the first phase of the two-year project in December 2021, we expect the second phase, which will last for three years, to begin. We also expect that through the continuation of this project, our institutions will strengthen cooperation and continue to work hard on further harmonization with European policies. 

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PORTONOVI - A MEDITERRANEAN PARADISE FOR INVESTORS AND HEDONISTS At the very entrance to the Boka Bay, in Herceg Novi, lies a luxurious Portonovi resort

What attracts them the most when it comes to the resort is certainly the combination of luxury residences by the sea that remind us of Mediterranean villages in France or Italy and a variety of

The season 2022 in Portonovi has started more than successfully

For more information about residences write to enquiries@portonovi.com To book accommodation, write to stay@portonovi.com For information about upcoming events, write to events@portonovi.com.

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restaurants and cafes offering the most exotic cuisine from around the world. Real estate buyers who wanted to build their home on the sea, have an additional reason to choose Portonovi. "We are especially proud to offer a unique opportunity to our customers, which is to be able to move into already furnished apartments, just a few days after signing the contract," Rashad Aliyev, Portonovi CEO commented.

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ocated on an area of 26 hectares, the resort offers 218 residences for sale or rent, ranging in size from studios to four-bedroom apartments and villas. The first phase of the project was completed last year, and this season is the first one in which the resort will shine in its full splendor. Since Portonovi has become a very recognizable Montenegrin brand in a short time, the resort could expand even more in the years that follow, in accordance with the needs of this part of the Mediterranean. The season 2022 in Portonovi has started more than successfully. With many apartments already booked until the end of September and a rich calendar of various events, guests from around the world, but locals as well, are increasingly interested in visiting one of the most luxurious and attractive resorts in this part of the Mediterranean.

Those who have decided to spend their summer vacation in one of the apartments offered by Portonovi, choose their private paradise since the residences have their own private gardens and swimming pools. A large number of guests are staying in Portonovi for the second time, and what they return to is peace, beauty, beautiful nature, and extraordinary luxury. The fact that Portonovi is home to the first One&Only hotel in Europe makes the level of service and offer in the entire resort in line with the highest standards. Even when it comes to the events, the resort does not lag behind luxury resorts around the world. Tapasake club has already attracted the attention of local and foreign visitors. The gig by the world-famous DJ Mahmut Orhan opened the season of performances by some of the most attractive names in the world of music. Apart from that, this summer in Portonovi will be marked by wine evenings, art exhibitions, concerts, fashion shows, open-air cinemas and the International Carnival.

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ECONOMY

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TOURISM AND A STEP FURTHER The Montenegrin economy has relied on tourism and construction for years, but recently it has made strides towards being more sustainable and bridging the gap with the leading global economies

hirty years ago, Montenegro declared itself an "ecological state", w h i ch i n p ra c t i c e should have meant abandoning the then-dominant practice of turning a former socialist country into a highly industrialized one, regardless of pollution. So, the idea was to have as few toxic factories, mines and polluted water and air as possible, and enjoy pure nature as much as possible, to the satisfaction of Montenegrins and guests of Montenegro. Unfortunately, the wars and sanctions that followed defined Montenegro as a tourism destination (summer and to a lesser extent winter tourism), and a commerce country with a developed real estate construction. This is not an unusual path, because it was also

followed by many other current EU members, such as Spain in the 1970s and 80s, then Cyprus, Malta and Greece, but also Israel and Lebanon, which are not in Europe, but followed the so-called Mediterranean growth and development pattern. At some point, when there

THE AGILE PRIME MINISTER DRITAN ABAZOVIĆ OPENED SOME DOORS IN TOURISM THAT HAD NOT BEEN OPENED BEFORE

nounced the following projects that will change the economy of Montenegro - the Kotor-Lovćen cable car, the Podgorica-Danilovgrad boulevard, three new factories, the bridge over Bojana, the cement plant in Pljevlja, numerous energy projects, a five-star hotel in Ulcinj (Velika Plaža), the arrival of another multinational IT company (Acronis was mentioned ) until the end of the year, the construction of the Berane Air Park, the water terminal in Tivat, the superyacht overhaul dock in Bijela, etc. Also, there is growing interest in the construction of green energy-based facilities in Montenegro, as confirmed in recent negotiations. One of the more interesting turns in Montenegro’s economic policy, which is commendable, is transforming the country into an IT hub, just like those in

MONTENEGRO AS MONACO - WAS THE MANTRA FOR MANY DECADES. IT IS TIME FOR A NEW, BETTER MONTENEGRO THAT WILL MORE RESEMBLE ISRAEL THAN MONACO Novi Sad, Belgrade, Timisoara, Zagreb, Minsk and Lviv. Such an endeavour can transform less developed countries and those in crisis as it facilitates, as is the case with the leading IT startup country - Israel. On the other hand, the integrative processes of the Open Balkans initiative are becoming increasingly attractive, even though Montenegro does not officially participate in the initiative. However, important economic partners are members of the initiative and new opportunities are lurking around the corner. Since the most important trading partners of Montenegro are Serbia, Bosnia and Herzegovina, Italy, Germany and China, it is clear that diversification of cooperation is the way to prosperity. Montenegro as Monaco - was the mantra for many decades. It is time for a new, better Montenegro that will more resemble Israel than Monaco. 

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However, the agile Prime Minister Dritan Abazović opened some doors in tourism that had not been opened before (Montenegro was included in the list of countries that can apply for an e-visa for Saudi Arabia with direct flights from Saudi Arabia starting on July 28, which was confirmed by and the Minister of Tourism of the Kingdom of Saudi Arabia, Ahmed Aqeel Al-Khateeb. There is no doubt that the desert Arabs will greatly appreciate the green shades of Montenegro in the summer, as well as ski resorts in the winter.). Also, on July 13, the long-awaited Podgorica-Mateševo motorway segment was opened for traffic, which will shorten the trip from the north of Montenegro to the south of the country and from the Montenegrin coastline to Serbia. In his recent address in the Parliament, in addition to the motorway construction, the Prime Minister an-

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were too many tourists in the country and too little space for construction, so the country had to start thinking about a new development direction. Of course, fact that, in 2020, Montenegro was left without the majority of tourists until September, when the ban on entering the country was lifted (most tourists traditionally come from five countries – the Republic of Srpska, Serbia, Belarus, Ukraine and Russia, and slightly less from Western Europe and Kosovo), during the coronavirus-induced crisis, did not help this transition at all. Sanctions on Belarusian airlines followed in 2021 and then on Russian airlines in 2022, while Ukraine fell into a whirlwind of war, so the third consecutive crisis was marked by pan-European inflation and price increases, with the absence of tourists from three large Eastern European markets.

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GROWING TRADE In terms of Serbia’s total export in 2021, Montenegro ranks 8th with a 3.8% share. Regarding Serbia’s imports in 2020, Montenegro ranks 40th place with a 0.3% share in total Serbian imports

ccording to the data collated by the Chamber of Commerce and Industry of Serbia (CCIS), the total trade between Serbia and Montenegro from January to March 2022 amounted to 220.9 million euros, a 31.7% increase compared to the same period in 2021. Serbian exports to Montenegro amounted to 197.4 million euros, a 29.2% hike relative to the same period in 2021. Imports from Montenegro are also higher by 51.7% compared to the same period in 2021 and amounted to 23.5 million euros. The trade surplus stood at 173.8 million euros. The most important products exported in the period from January to March 2022 are boilers, machinery, road vehicles, pharmaceutical products, electric devices and equipment and plastics, while, during the same period, Serbia mostly imported the following products from Montenegro - mineral fuels and oils, meat and meat-based products, wood, unclassified goods and pharmaceutical products. In terms of Serbia’s total export in 2021, Montenegro ranks 8th with a 3.8% share. Regarding Serbia’s imports in 2020, Montenegro ranks 40th place with a 0.3% share in total Serbian imports.

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Also, the SCC report states that in 2021, the trade in services between the two countries amounted to 445 million euros. In this period, Serbia exported services worth 219 million euros, which is an increase of 53.1% compared to 2020. In 2021, Serbia imported services from Montenegro worth 266 million euros, which is a 64.9% hike relative to 2020. The deficit in the trading in services in 2021 amounted to 7 million euros. In 2021, 6,132 domestic companies traded with Montenegro. Of this number, 5,546 only exported, 327 only im-

ACCORDING TO THE DATA ON SERBIAN INVESTMENTS, COLLATED BY THE CENTRAL BANK OF MONTENEGRO, IN THE PERIOD FROM 2006 TO JUNE 2019, THE TOTAL INVESTMENTS FROM SERBIA AMOUNTED TO 516.6 MILLION EUROS

ported, while 359 companies both imported from and exported to Montenegro. There are 571 active companies in the Republic of Serbia which are majority-owned (over 50%) by legal or natural persons (citizens) from Montenegro. The following economic branches in Serbia have the biggest potential to increase their export to Montenegro – automotive industry, alcoholic beverage industry, vinegar producers, dairy producers, producers of animal and vegetable fats and oils, plastics and plastic products and furniture. Countries that are the largest foreign investors in Montenegro are - the Russian Federation, Azerbaijan, China, Switzerland, Italy, the USA, the UAE, Serbia, Germany and the Netherlands. Net foreign direct investments in 2020 reached 468 million euros. Montenegro plans to overhaul its road and rail networks and expand its air transport system. As of December 31, 2021, 571 companies founded by the Montenegrin citizens or legal entities registered in Montenegro were registered in Serbia. According to the data on Serbian investments, collated by the Central Bank of Montenegro, in the period from 2006 to June 2019, the total investments from Serbia amounted to 516.6 million euros. 

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PORTO MONTENEGRO – A LIFE LESS ORDINARY Once a naval base, Porto Montenegro has been transformed into an exquisite holiday spot

ber of residences are still available for purchase. Set directly on the quayside, Regent Pool Club Residences comprises two wings – Baia and Aqua. Designed in sleek, contemporary style and linked at podium level by an expansive terrace with swimming pools, the residences feature light-filled interior spaces and sweeping views of the sea or mountains. Owners have access to all services and amenities of the five-star Regent Porto Montenegro and can benefit from the hotel’s optional rental pool program.

It’s very easy to fall under the spell of Boka Bay: it has a special, indefinable magic that goes beyond the spectacular natural surroundings

www.portomontenegro.com sales@portomontenegro.com

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Just a few steps back from the waterfront there is Elena Residences, sophisticated addition to Porto Montenegro, with well-planned interiors featuring expansive-looking terraces and beautiful views of the sea or mountains. Future owners can enjoy a comprehensive list of services including the option of choosing their own interior design and furnishing solutions, and access to Porto Montenegro’s M Residences rental

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ounded some 15 years ago by a consortium of visionary developers, Porto Montenegro is set in the spectacularly beautiful Bay of Kotor on Montenegro’s Adriatic coast. From historical origins as a naval base, it has been transformed into an exquisite waterfront destination, with low-rise apartment buildings, tree-lined pedestrian boulevards, and an array of chic boutiques, restaurants, and cafes surrounding a breathtaking superyacht marina. What began as a best-kept secret among yachting aficionados is no longer so secret, as sophisticated travellers add Montenegro to their list of must-go destinations. With few exceptions, they immediately fall in love with the place, seduced by its natural beauty and the warm welcome they receive. For a significant number, that love-atfirst-sight feeling has translated into a decision to buy a home in Porto Montenegro – whether as a seasonal hideaway or a permanent base – secure in the knowledge that its world-class amenities make it a sound investment in both financial and quality-of-life terms. While some home buyers are content to wait for the completion of the new Boka Place neighbourhood in 2023, others can satisfy their urge to move immediately by buying one in Porto Montenegro’s recently completed buildings, where a limited num-

management service. Along with the Regent Pool Club Residences, future owners will get automatic membership of the exclusive Owners’ Club, with its dedicated lifestyle team and portfolio of special privileges. This year, we are thrilled to tell you more about the village’s new jewel, Boka Place, which provides a rare opportunity to create an easygoing yet elegant lifestyle, and become part of the vibrant and welcoming community that’s already well established in Porto Montenegro. Buying a property in Boka Place is also a sound investment. Due to be completed in 2023, this lively, top-of-the-line urban neighbourhood has been designed for year-round living, with a focus on wellbeing and fitness. It features a wide variety of residences, high-quality retail outlets, extravagant eateries, a new flagship SIRO hotel, and a plethora of entertaining activities for families, couples and friends. With its distinctive style and prestigious position, Boka Place is also an excellent investment opportunity, in terms of both capital appreciation and the option to benefit from a well-established and proven rental management programme. It’s very easy to fall under the spell of Boka Bay: it has a special, indefinable magic that goes beyond the spectacular natural surroundings – a serenity that is becoming increasingly valuable and increasingly harder to find in today’s world. And this is what makes the prospect of owning a home in Porto Montenegro hard to resist. 

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TIVAT - A PERFECT COMBINATION OF TRADITIONAL AND MODERN It is a big challenge to create the image of a destination and that requires constant work and synergy of all representatives of the tourism industry

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DANICA BANJEVIĆ Director of Tivat Tourist Board

e spoke with Danica Banjević, Director of the Tivat Tourist Board, one of the most active tourist boards on the Montenegrin coast, about the importance of social networks for the development of tourism, the challenges tourist boards face in promoting the natural attractions of their respective regions, and various types of vacations.

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How big of a challenge is it to create the image of such a diverse and allaround tourist destination like Tivat? � It is a big challenge to create the image of a destination and that requires constant work and synergy of all representatives of the tourism industry. I think that we make a good team and that Tivat is one of the favourite leisure destinations, regardless of whether we are talking about elite tourism or tourists whose main goal is to have an active vacation and enjoy the rural areas. It is a well-known fact that, in addition to having luxurious marinas and hotels, Tivat is the perfect place to escape from the urban hustle and bustle and find peace on one of our secluded beaches.

The diverse accommodation offer, from budget to luxury hotels, hostels, and camping sites to different categories of private accommodation, means that every guest can find something suitable. During the day, tourists can enjoy sailing, rowing or swimming, as well as bird watching, hiking or cycling to olive groves around Luštica villages or on the Vrmac peninsula. At night, they can indulge in beautiful sunsets from the picturesque shores of Tivat, Porto Montenegro or Luštica Bay, while discovering local tastes and culture which is a perfect blend of traditional and modern.

Our guests are privileged because, in a short time, they can experience the spirit of the past, on the one hand, and the luxury of the present, on the other What is a must-see in Tivat that you would recommend to first-time tourists in Tivat? � Tivat is an authentic town and it has an extremely diverse tourist offer in a relatively small area. It will definitely satisfy even the most curious of visitors. Our guests are privileged because, in a short time, they can experience the spirit of the past, on the one hand, and the luxury of the present, on the other. The tourists who plan to spend their vacation visiting sleepy villages on Lušti-

ca or conquering the hiking trails on Vrmac or exploring the natural beauty of Gornja Lastva, as well as those who will spend their time enjoying luxurious accommodation in Porto Montenegro, Luštica Bay and Nikki Beach Montenegro, will all have a great time. If you love spending time in nature and bird watching, you should definitely visit Solilo, and if you crave a real adventure, Tivat offers various forms of recreation and active vacations. A must-visit is the Life on Luštica panoramic road, as well as driving around the Tivat Bay and visiting three beautiful islands that make up the Krtoli archipelago, Stradioti/St. Marco, Our Lady of Mercy, and Flower Island (Ostrvo cvijeća). I would also like to recommend to summer tourists to enjoy the abundant cultural life here and take part in unforgettable thematic evenings or watch concerts and theatre plays in Tivat. How important is it to be present online and on social media for tourism development and how is your tourist board managing that? � Nowadays, the Internet has become the essence of life and business. Whether we want to admit it or not, we cannot and will not be able to do without the Internet. The pandemic contributed to the increasing use of the Internet for doing business and communicating. Websites and social media are very important for tourism promotion. The Tivat Tourist Board continuously works on improving its official website www. tivat.travel and its Facebook and Instagram pages. Our team is doing a great job on this. 

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LIFE ON LUŠTICA PANORAMIC ROAD Tivat and Herceg Novi tourist boards present a new tourist offer on the Luštica peninsula

To discover what Luštica is hiding, embark on this interesting panoramic adventure. While driving along the winding panoramic road, you will see Luštica villages, wonderful fortresses, breathtaking viewpoints, how people live here and the rich past of the Luštica peninsula. For this venture, it is best to set aside a whole day and drive slowly in order to discover all gems here. We recommend that you follow the map and do your trip in the same sequence shown on the map - visiting Bjelila, Krašice, Zabrdje and Klince, via the villages of Mrkovi, Tići and Mardari to the tourist resort of Luštica Bay.

Old wooden boats and fishing nets, oars, anchors, hooks and traditional Bokelj fishing equipment give a special Mediterranean charm to this part of the Luštica peninsula

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A special nature reserve, Solila, and the beautiful as well as beautiful Krtolj archipelago consisting of three islands, the three jewels of Boka - Flower Island (Ostrvo Cvijeća), Sveti Marko - Stradioti and Our Lady of Mercy (Gospa od Milosti) - are located on the Tivat side

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he Luštica peninsula is located between Boka Kotorska and Trašte Bay, with a view that stretches far to the Adriatic Sea. Last year, the peninsula got a new tourist attraction - the Life on Luštica panoramic road, as a result of the cooperation of two tourist boards - Tivat and Herceg Novi, because, territory-wise, Luštica belongs to these two municipalities. The idea behind this cooperation is a joint effort on the valorization of the peninsula and the creation of a unique tourist offer. The panoramic road project aims to include the Luštica peninsula into a unique tourist offer where you can experience the natural and cultural diversity of this endlessly interesting peninsula, grouped in a relatively small area. During the first project phase, a tourist information map was created, and in the following period, the phased development of this panoramic road will take place, namely the creation of an audio guide in several languages, as well as putting up signage and viewpoints. It is interesting to note that this relatively small area has numerous viewpoints and natural and cultural attractions, where you can experience the true spirit of rural tourism thanks to the area’s diversity. The road is about 40 kilometres long and the project envisages car tours as well as shorter walking tours lasting a few hours.

of the Luštica peninsula. You will also come across Bjelila and Kakrc, small villages in Krtol, that are synonymous with crystal clear sea and a peaceful and relaxing vacation. There is a lot of freshwater mixing in with the sea here and it comes from numerous sources (one of them is right on the coast, in the centre of the settlement). According to the findings of the Institute of Marine Biology, the sea around Kakrc is the cleanest on the entire Montenegrin coast. Also worth visiting are Krašići and Radovići, which are particularly famous for the Pržno Bay, a favourite among tourists and swimmers due to its fine sand. Krtoli is an extremely attractive locality for both tourists and investors. Small fishing villages like Bjelilo are hidden gems of Krtoli. Painters, poets and musicians sought inspiration here. The sea is clear and clean. Old wooden boats and fishing nets, oars, anchors, hooks and traditional Bokelj fishing equipment give a special Mediterranean charm to this part of the Luštica peninsula with a view of the Island of Flowers, and the islands of Sveti Marko and Our Lady of Mercy. If you go deeper into the mainland you will find numerous elevations with well-maintained viewpoints. Once you pass the Solila viewpoint, further in the peninsula mainland, there are several elevations in Gošići, near the church of St. Luke, and in Bogišić, near the church of St. Ivan and St. Jovan. At the very end of the Tivat part of the peninsula is Luštica Bay, a luxurious tourist-residential resort whose beaches offer a view of the endless open sea. This part of Boka Kotorska is also an open-air museum, and we recommend that you visit it. By soaking in the charm and benefits that it offers, you will take home with you beautiful memories and an unforgettable experience. 

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WHERE MYTHS BECOME REALITY Huma Kotor Bay Hotel & Villas, named after Huma, a bird from Persian legends, is now a new word for happiness

VLADIMIR MARINKOVIĆ CLICK ON ICON

General Manager, Huma Kotor Bay Hotel & Villas

n the beautiful setting of Kotor's Huma Kotor Bay Ho te l , w e sp o ke w i t h Vladimir Marinković, the hotel’s general manager, who told us about the legend of the mythical Huma bird, which was the inspiration for the enjoyment that this hotel offers its guests.

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Why did you choose the bird Huma, one of the mythical creatures, as a symbol? What does it represent and how compatible is it with the spirit of Kotor and the bay itself? � Huma is a mythological bird from Persian stories. Legend has it that the bird never landed on the ground, that she was elusive, and that she brought incredible happiness and prosperity to those who saw even a fraction of her shadow. Inspired by the legend of Huma, we want to offer each of our guests the feeling of peace, pleasure, well-being and happiness that Huma used to bring. Considering that the Bay of Kotor is it-

self a place of various myths and legends, we believe that Huma perfectly fits with the hotel’s spirit and ambience. Your offer goes beyond perfect summer vacation. It includes both activities and accommodation in hotels to villas. What would you like to recommend? � Huma Kotor Bay Hotel & Villas is a unique hotel in many ways, with truly diverse options and opportunities for guests, from a fantastic beach to a varied gastronomic offer.

Inspired by the legend of Huma, we want to offer each of our guests the feeling of peace, pleasure, well-being and happiness that Huma used to bring In addition to beautiful, bright and spacious rooms and suites, the hotel also has 10 luxury villas, right on the coast. Each two-story villa spans an area of 200 square metres and has a spacious, open space living room, kitchen, dining room and private garden on

the ground floor and 3 bedrooms on the upper floor. The hotel’s gastronomic offer is diverse and fantastic. On one side of the beach is the Virtu beach bar, and on the other side is the fine dining restaurant called Mudra Art Cuisine, whose chef Aleksandar Kerekeš and his team make exceptional dishes, for which I can confidently say that are the most exclusive in the region. The ambience does not lag behind the food, so the sunset here is one of the experiences that should not be missed in Montenegro this summer. This year, we developed another restaurant concept - a Sushi & Nikkei restaurant called Lola Braza, where we serve the most delicious specialities from Japan and Peru.

What do you expect from this summer season? � Our expectations are ambitious, as are our plans. For some time now, Montenegro, and especially the Bay of Kotor, have been on the map of unique summer destinations that are a must-visit. The coastline is rapidly developing; both through huge projects like Porto Montenegro and Porto Novi, and the arrival of large foreign hotel brands, which contribute to improving both the offer and bringing more guests to the coast. As a result, the clientele coming to Montenegro is ready to pay for a variety of experiences but also has high expectations and needs. Vacations can also be upgraded with special offers such as discounts and luxury privileges. What do your special offers include? � We have a wide range of special offers and we are constantly working on creating new ones, while trying to give our guests the kind of vacation they have dreamed of all their lives. In addition to the classic accommodation of-

fers, we have various boat tours around the bay, tours of Boka and Kotor, wine tours and tastings, hiking in local mountains with beautiful views of the bay and much more. For guests who are less adventurous and would like to spend more time at the hotel, we have great packages that include massages and treatments at our Shanti Spa. There is a possibility of creating a custom package with workouts and healthy food for 7 or 10 days. Furthermore, for tourists who are not our guests but want to make the most of this summer, we have special

Throughout the summer, every Saturday, there are beach performances by some of the biggest names on the world DJ stage, from Jeremy Olander to Roy Rosenfeld

offers and options relating to the use of the VIRTU beach, some of which include tasting specialities from our great restaurants. You have been diligently working on improving your services and offers. What would you like to single out for this summer? � I believe that many dishes at Huma Kotor Bay Hotel & Villas will be a big hit this summer. Throughout the summer, every Saturday, we have beach performances by some of the biggest names on the world DJ stage - from Jeremy Olander to Roy Rosenfeld. The parties start in the early afternoon and last until sunset, and they are aptly named Virtu sunsets. This is sure to be the best Saturday event and parties that will fill out very quickly. Both restaurants at Huma Kotor Bay - the fine dining restaurant Mudra Art Cusine and the Sushi & Nikkei restaurant Lola Braza - are unique both in terms of their gastronomic offer and their ambience. They should not to be missed this summer in Montenegro. 

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CULTURE

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ORO AND SINGING WITH GUSLE

he word ‘oro’ originates f ro m t h e G re e k w o rd "horos", which means "gathering of people", or "dance". In his book "Montenegrin oro in Crmnica", Velimir Vujović calls oro "a gathering of people who dance". It is believed that the dance was named after the eagle (pronounced "o'ro" in the vernacular), since it symbolizes an eagle's flight.

THE GUSLE PLAYER HOLDS THE INSTRUMENT VERTICALLY BETWEEN HIS KNEES, WITH THE LEFT HAND ON THE STRINGS

Folk dances occupy an important place in the folklore of Montenegro. They are very diverse, because, for centuries, they were created to reflect the unique conditions that the people of Montenegro have been living in, and were adapted to their cultural and social needs. In terms f their origin and development, Montenegrin folk dances mostly belong to the wider Dinaric and coastal folklore area, with those

MONTENEGRO’S LONG HISTORY OF STRUGGLE FOR FREEDOM AND INDEPENDENCE IS INVARIABLY LINKED WITH STRONG TRADITIONS OF ORAL EPIC POETRY

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what about music? Montenegro’s long history of struggle for freedom and independence is invariably linked with strong traditions of oral epic poetry. Traditionally, they are delivered to the audience accompanied by the music produced by a gusle, a one-string instrument played by the storyteller (guslar), who sings or recites the stories of heroes and battles in decasyllabic verse. Historically, these songs have had immense motivational power over the population. The guslars commanded almost as much respect as the best of warriors, as they were as much the authors, thus history writers, as they were interpreters. Presently, these traditions are somewhat livelier in the northern parts of the country (also shared with people in eastern Herzegovina, western Serbia, and central Dalmatia). Gusle is a single-stringed musical instrument (and musical style) traditionally used in the Dinarides region of

Southeastern Europe (in the Balkans). The instrument is always accompanied by singing, that is musical folklore and specifically epic poetry. The gusle player holds the instrument vertically between his knees, with the left hand on the strings. The strings are never pressed to the neck, giving a harmonic and unique sound. The gusle consists of a wooden sound box, the maple being considered the best material (therefore often the instrument is referred to as "gusle javorove" - maple gusle), covered with animal skin and a neck with an intricately carved head. A bow is pulled over the string/s (made of horsetail), creating a dramatic and sharp sound, expressive and difficult to master. The string is made of thirty horsehairs. The instrument is held vertically between the knees, with the left hand on the neck. The strings are never fully pressed to the instrument’s neck, giving a harmonic and unique sound. The most common and traditional version is single-stringed, while a much less-common version is the two-stringed one found in Bosanska Krajina and Lika. The varieties of the gusle music differ from culture to culture - the content of the stories of each ethnic group is different. There are minor differing characteristics of vocality in the regions of Southeast Europe, but the design of the instrument is identical - only the design of the neck and head varies as they can be decorated with different ethnic or national motives. 

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from Old Montenegro - Zetsko Kolo, Crmnički Oro and folk dance for two – is the most recognized. People used to dance oro all across Montenegro – at home and in the meadows, day or night, during festivities at any time of the year. At night, the dancers were illuminated by the light of burning kindling wood. Almost no festivity would go without this dance. The dancers were encouraged by the song to enter the dance and to dance even better, faster and happier. That joy lasted a long time, sometimes until dawn. Earlier, these gatherings were frequent, and today they are few and far between and mostly take place during national holidays. The festivities were organized mainly in winter, during the holidays, when there was little to do at home. In summer, the people in Montenegro have a lot to do and not many festivities are held then. Those that do take place during summer are usually outdoors – on an area called gumno. The only time there was no folk dancing or singing is when a brotherhood, village or tribe is in mourning or grief over the death of a brother, farmer or nobleman. Adult men and women dance together in oro, regardless of whether they are married or not. Also, children learn this dance very early on and are often seen imitating adults in dancing. Dancing oro in an agile, precise and elegant manner is considered a virtue. Town and village oro differ. There were some moves and figures that villagers use in dancing oro that are never used by oro dancers in towns as they are considered indecent. In towns, nobody danced oro if, for instance, an important public figure has died. In earlier times, in the valley of the Zeta River, there was a custom that once a family finished the construction of their house and were about to move in, they invited guests, mostly young boys and girls, to dance and they would be celebrating and dancing until early morning hours. Once all guests have left satisfied, the host was also happy with how the floor of the house looked as the dancers, while dancing, flattened the floor properly. At that time, houses didn’t have proper floors but were made from dirt or sand. That’s Montenegrin dancing, but

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NEW HIGHWAY – THE PRIDE OF MONTENEGRO he first section of the first highway in Montenegro was officially opened on July 13, 2022, on Statehood Day. The new highway that has

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just been opened to traffic connects Podgorica with Kolašin and is part of the Bar-Boljare highway project (border with Serbia). A modern highway is a safe alternative for one of the

deadliest routes through Morača canyon. It will connect Belgrade and Serbia with the Montenegrin coastline, the port of Bar, Podgorica, and the rest of Montenegro. 

TRADITION

GOLDEN CROWNED TWO-HEADED EAGLE

The coat of arms of Montenegro was officially adopted by the law passed in the Parliament on 12 July 2004. It is now the central motif of the flag of Montenegro, as well as the coat of arms of the Army of Montenegro. It was constitutionally sanctioned by the Constitution proclaimed on 2 October 2007

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he charge is a two-headed eagle, a symbol of Byzantine and ultimately ancient Roman origin. It symbolizes either the unity of or the close connections between the church and the state. The motif was used by medieval rulers of Zeta—the House of Crnojević—as well as various other European dynasties. The layout of the Montenegrin coat of arms is inspired by that of the Russian Empire, with which the ruling House of Petrović-Njegoš had close dynastic and political ties in the 19th century when the coat of arms was first adopted in its present form. The lion passant on the inescutcheon is as a sign of episcopal authority and could have been conceived of as a metaphor for the Lion of Judah. Furthermore, it bears some similarity to the motif present in the arms of Venice, which had considerable influence in the history of Montenegro. After Montenegro regained its independence from Ottoman Empire, it gradually became a the-

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THE NATIONAL SYMBOLS AND STATEHOOD DAY OF MONTENEGRO LAW CONTAINS THE OFFICIAL BLAZON OF THE CURRENT ARMS

ocracy to have a united front against the numerous Turkish invasions of the country. For this reason, the authority of the church was reflected in various insignia of the age. After the establishment of the secular dynastic succession in 1851, the lion was placed beneath the eagle, while the initials of the ruler stood on the shield: notably, that of Danilo I, Prince of Montenegro, Danilo II, Prince of Montenegro and King Nicholas I of Montenegro. Curiously, Danilo I was still a prince-bishop while the standard bearing his initials was used. The modern coat of arms placed the lion d’or back on the shield, erasing that

monarchic symbol. Today, Montenegro is a secular, democratic republic, so the fact that the crown of the Petrović-Njegoš dynasty was also represented created some controversy at the time of its adoption. However, this configuration proved extremely popular. The coat of arms can be seen not only in public places such as schools and governmental offices, but also in many private houses, places of business and private universities, due to being a common display of national pride. The National Symbols and Statehood Day of Montenegro Law contains the official blazon of the current arms: The coat of arms of Montenegro is in the

form of a golden crowned two-headed eagle, raising his wings in flight, with a scepter in the right and a globus cruciger in the left talon, on red. On the chest of the eagle lays a shield with a golden lion passant. The lion is on a green field with a blue background. The crown above the eagle's heads and the scepter are golden with a cross on top. The globus cruciger is blue with golden waist and cross. Despite the mention of the red background, the coat of arms is almost always used without it, with the eagle appearing as a supporter. The coat of arms appears on a red background on the national seal and the national flag. 

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DO YOU KNOW WHAT BANKADA IS?

aštrovići, a Montenegrin tribe of twelve brotherhoods, inhabits the coastal area between Budva and Sutomore. During the Venetian rule in the XVII century, this tribe enjoyed a certain autonomy, and territorially they were granted the formation of two komunitadas, local self-governments in Sveti Stefan, and Lastva, which were governed by bankadas. The Bankada is some kind of traditional tribal council, assembly or court presided over by elected judges, and each of the 12 tribes had its lord to represent them. They were held on Vidovdan until their abolition in 1929. The first place where bankadas were held was at the Drobni pijesak cove, today known as one of the most beautiful beaches in Montenegro. 

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TOURISM

SUNSETS AND COASTAL STORMS

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Risan is a tourist destination that has a hotel named after its most famous resident, Queen Teuta, with accompanying beautiful beaches

clearly remember my first trip to Petrovac in Montenegro, when I was in the first grade of elementary school, travelling with my parents. From then on, and all subsequent times when I would go there, I would excitedly wait for the moment after a whole night on the road when at dawn, the bus breaks out into the clearing and from the window you can see the Petrovac beach and smell the scent of the sea even though the windows were closed. We would go down to this coastal town high up from the mountains, get off in the town centre and stay with our grandparents, Montenegrins, who

rented accommodation for us. Although I haven't been to Petrovac for over 15 years, the memories of the town are extremely vivid, and although my road no longer takes me to Petrovac, I would love to visit it again. Now, here are a few interesting details about Petrovac Petrovac is a coastal town in Montenegro, located in the Budva Municipality, on the coastline between Budva and Bar, where the old mountain road from Podgorica reaches the sea. It has a 600m long sandy beach and it is a popular tourist destination. Petrovac is seen as a somewhat "calmer" resort, in contrast to the lively and devel-

oped nearby towns of Budva and Sutomore. The history of Petrovac began in Roman times, when a couple of villas were built at Krš Medinski: a 4th-century mosaic floor, remains of a villa and baths have been found behind St Ilija's church. Later, there was a Slav village. The village was first mentioned in the Chronicle of the Priest of Duklja. At the northern end of the bay is a 16th-century Venetian fortress, Kastel Lastva, built to discourage pirates. When in the late 16th century jurisdiction of the Benedictine monastery Ratac collapses the Orthodox rite began to strengthen in the area of Catholic parishes, Spič, Sozina and Kastel Lastva which were under

the jurisdiction of this monastery. The Orthodox clergy and the Orthodox believers at the same time began to use Catholic Churches in that area for their rites. The name, Petrovac, was given at the beginning of the 20th century after King Peter I Karadjordjević. Before, the name was Kaštel Lastva. In the bay are two islets (Katič and Sveta Neđelja), one of which is topped by a small chapel, built in thanksgiving for a shipwrecked sailor's life. At the beginning of the 20th century, Petrovac had around 300 inhabitants. In World War II, British agents landed at nearby Perazića Do. They intended to establish contact with Yugoslav partisans (Operation Hydra).

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Between the two world wars, Petrovac was a popular destination for wealthy tourists from (the former) Yugoslavia. Today, Petrovac is a popular summer beach resort, its visitors coming predominantly from Montenegro, Serbia and Russia. Tourist accommodation has expanded greatly in recent years, although less obtrusively than at Budva and the quality has also improved in response to market demand. The resort's main attraction is its beach. There is a nightclub in the old castle. There is ready access to neighbouring beaches at Lučice and Buljarica. In the 21st James Bond film, Casino Royale, Petrovac was supposedly the location of the eponymous casino but the movie was shot in the Czech Republic instead. In the film, little is seen of the town, only the casino's environs and an outdoor cafe. A part of the movie Brothers Bloom was filmed in Petrovac. The locality has often been used in music videos of regional singers. I remember my excitement when I heard that some of the film’s story takes place in Petrovac. But, unfortunately, it turned out this was not the case. What was truly cinematic was the sunset on the beach, when the Sun went down behind two small islands that I thought it was possible to swim to, but

the buoys wouldn't allow it. Also, I remember a cave which I was afraid to enter. Only later, when I mustered the courage, I was able to go in without any problems. We travelled by boat to Budva, and there you could see the beach stretching as soon as you exit the aforementioned tunnel. The Petrovac beaches are one of the best I've been to - long, with fine sand and with old buildings on both ends, which seemed like castles to me as a child. On the right-hand section of the coastline, when looking in the direction of the sea, there was a lighthouse and a viewpoint. The moments when I would climb there at night were a real joy for me. On the other hand, the town centre was extremely lively, unlike the settlements in the direction of the mountain.

THE TOWN CENTRE WAS EXTREMELY LIVELY, UNLIKE THE SETTLEMENTS IN THE DIRECTION OF THE MOUNTAIN

It was brimming with bars, children's playhouses and clubs. The further you went towards the accommodation, the quieter it became. At the end of our first stay, grandma and grandpa bought me a children's book which told a story about a cricket and an ant. There is another place in Montenegro where I spent my summer (and I travelled up and down the Montenegrin coast) - a small sea town of Risan. Risan is located in the Bay of Kotor, Montenegro. It traces its origins to the ancient settlement of Rhizon, the oldest settlement in the Bay of Kotor. Lying in the innermost portion of the bay, the settlement was protected from the interior by inaccessible limestone cliffs of the Orjen mountain, the highest range of eastern Adriatic, and through several following narrow straits in the Bay of Kotor from the open sea. While the Krivošije karst plateau that hangs steep above the narrow shores of Risan bay receives over 5000 mm rain annually (European record), several strong karst springs that form a short brook collect in the narrow cultivable belt at Risan. In Roman times, Rhizinium is documented as an oppidum civium Romanorum, and the most prosperous time for Roman Rhizinium came during

the 1st and 2nd centuries, when huge villas were made in the area and the city had 10,000 inhabitants. Five mosaics are the most valuable remains of that period - not only for Risan but also for Montenegro. Circa 500, it became the seat of the Roman Catholic Diocese of Risano. The invasions of the Avars and Slavs left the city deserted. The last reference of a Roman bishop in Risan dates back to 595. In the 10th century, the Byzantine emperor Constantine Porphyrogenitus includes Risan among the inhabited towns of Travunia, while the priest of Doclea considers Rissena to be a district. During the Middle Ages, Risan lost the significance it used to have in ancient times. No later than the 13th century, the Italians provided the bulk of a henceforward unbroken series of Latin Catholic Bishops of Risano until its suppression circa 1630. In the mid-15th century, Risan was referred to as the town of Herceg Stjepan. In 1466, the Venetians offered to give Brač island and a palace in Split to Herceg Stjepan, in exchange for his two towns (Risan and Novi) in the Boka Kotorska. In 1482, the Turks took Risan, together with Herceg Novi, from Herceg Stjepan's son Vlatko, using it as a base for its corsairs to pirate Venetian shipping sailing from their nearby holdings

of Cattaro and Perasto. In the present-day Risan, there are no elements that could connect it to the medieval town. Risan by the sea was probably just a settlement. However, on the Gradina hill, above the famous archaeological site of Carine, a fortification is situated containing remains of an Illyrian acropolis, as well as the medieval and Turkish stratum. The position of the fortification was excellent, particularly for the control of Risan – Onogošt route, while the hilltop itself was inaccessible. Today Risan is a small port with roughly 2000 inhabitants (in 1900: around 5000 inhabitants; of them

IN THE PRESENT-DAY RISAN, THERE ARE NO ELEMENTS THAT COULD CONNECT IT TO THE MEDIEVAL TOWN. RISAN BY THE SEA WAS PROBABLY JUST A SETTLEMENT

80% Orthodox Christians, 20% Catholics) where logs from the vast virgin forests of the Bijela Gora are shipped mostly to Italy. Risan is a tourist destination that has a hotel called after its most famous citizen, Queen Teuta, with accompanying fine beaches. Risan is in the northern section of the Municipality of Kotor. I also visited that town as a child with my parents. Twenty years ago we travelled there in the off-season. It was rainy, thundering and that was my first encounter with summer storms which were fascinating, like them or not. Although I am not a big fan of rain, I would love to see that scenery again. It was around the time when the second sequel of the blockbuster Terminator was released in cinemas that I read about King Arthur and the Knights of the Round Table. That's when my love for comic books was born too. My Montenegrin peer, the son of the family where we were staying, showed me collections of Garfield comic books. After reading sessions and running around as children, we would go down for a walk in Risan, which was a real oasis of peace during warm September nights at sea. Just as I would return to Petrovac, I would definitely stop in Risan too. 

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CORPORATE

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he most common causes of vehicle fires are faulty electrical installations, overcharging and faulty fuel supply devices. On the other hand, believe it or not, the most frequent damage to vehicles occurs in parking lots. Why should you worry when, after a long search for a parking spot, you leave your car in a dodgy place, under a dilapidated facade, or anxiously look at the weather forecast that predicts hail and stormy winds? You don't have to worry about someone scratching your brand new car with a key or that your neighbour's son, who just passed his driving test and is still learning to park, will damage it. Casco

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The Casco insurance policy protects you from damage caused by your own or someone else's fault, as well as in situations over which you have no control insurance is the secret to peace of mind and sound sleep. The Casco insurance policy protects you from damage caused by your own or someone else's fault, as well as in situations over which you have no control. Casco insurance covers the costs of damages caused by:

• traffic accidents • falling trees, parts of facades and other objects on your car • natural disasters • fire • flood • explosions With partial Casco insurance, you can insure your vehicle against breakage and damage to the installed windows, while supplementary Casco insurance protects you against vehicle and window theft. Contact AMS Osiguranje and their agents will make you an offer in line with your needs, requirements and financial standing. Call 0800 009 009 (free call from a ground line) or send an inquiry to info@ams.co.rs. 

AMS INSURANCE ALWAYS GIVES MORE! To be safe while driving and enjoy cruising the roads free of worries, in addition to the Casco insurance policy, AMS Osiguranje will also give you an AMSS membership card, so you don't have to worry about a possible breakdown on the

road and finding a towing service. You also get an additional discount for paying your insurance policy in full, and there is always the option of paying in 12 monthly instalments. If you have a fleet of vehicles, you get additional benefits.

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Articles inside

ORO AND SINGING WITH GUSLE Culture

SUNSETS AND COASTAL STORMS

WHERE MYTHS BECOME REALITY

TIVAT - A PERFECT COMBINATION OF TRADITIONAL AND MODERN

WE HAVE SUBSTANTIAL GREEN ENERGY POTENTIAL

TOURISM AND A STEP FURTHER

GROWING TRADE Cooperation

PORTO MONTENEGRO – A LIFE LESS ORDINARY

DIGITAL DEVELOPMENT AS AN OPPORTUNITY FOR LONG-TERM SUCCESS

POLICY OF OPERATING COSTS RATIONALIZATION

NELT GROUP’S LEADING-EDGE TECHNOLOGY IN MONTENEGRO

MONTENEGRO FOLLOWS EU POLICY ONE HUNDRED PERCENT