“The political situation in Montenegro reflects all the complexities that most Western democracies face at the moment,“ says Vladimir Radonjic, Managing Partner of Radonjic & Associates in Podgorica. “It feels like, in the past few months, since we began battling the crisis, politics has really taken a back seat.“ He says that this may change, though, as the pandemic weakens and a new normal emerges on the horizon.
“Things are moving in cycles [in Montenegro], as in most parts of the Balkans,“ says Partner Sasa Vujacic of Vujacic Law Offices. “This is an election year in Montenegro and that will be reflected on the business sector for sure, as we approach election day.“ Vujacic reports that the election date “should be no later than October of this year“ and says that, although more political influence will be felt in all sectors of business as it approaches, “not a lot of changes in Montenegro's political structure are to be expected."
The transportation sector is one of the most important factors for a country’s progress. Montenegro’s transportation sector has been transforming over the past few years towards the goal of harmonizing its infrastructure and services with European Union regulations. The Transportation Development Strategy of Montenegro for 2019-2035 (the “Strategy”) was adopted to regulate the guidelines and plans for future projects as well as to present the current state of the transportation sector in Montenegro. The Strategy aims to improve transportation in Montenegro and thus significantly enhance both tourism and business.
In addition to their traditional role guiding companies through legal and regulatory waters and managing disputes, General Counsels are increasingly called upon to provide input on strategic matters. An expert panel at the second annual Balkan GC Summit considered how this change in the nature of the General Counsel role is manifesting itself in the countries of the former Yugoslavia.
A recent report found that, in 2018, 72.2% of Montenegrin citizens had online access from home, with Internet access via mobile phones increasingly common as well. In terms of mobile and Internet service, Montenegro is not behind other countries from the region or Europe at large, but digital technologies are used far less in areas such as economy or education. Information technologies are most commonly used for Internet browsing and social network communication, but are rarely used for communication with public administrations, local governments, and other service providers, which indicates the society’s insufficient digital advancement.
Jones Day has advised Societe Generale in connection with the sale of its majority stake in the share capital of Societe Generale Montenegro, a company listed on the Montenegrin Stock Exchange, to OTP Bank Nyrt. Schoenherr advised Societe Generale on matters of Montenegrin law, while CMS advised OTP.