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Availability of skilled labour

Unemployment rate of 17.9~~in Montenegrois stillat ahigher level thanin most of thecountries inSEE.The educaUonalstrııcture ofunenıployed persons showsthat 61.9%of personshave completed Iıighschoolfollowed bythe unemployedwith completed higheducation22.2~';.

5trategic location

Perfecl point on thenıapforcompanies thatexeort their products and servicesto the EU.Southeast Europe and the Middle East.Well airport connectivity. the possibility of transport by land. airand sea guarantees uniqueaccesstomarkets anddelivery of all products ontime.

Favorable taxation system

Montenegrohas one ofthe lowestcorporatetaxrates in Europe whıchisoneof the greatest incentives whenitcomes to foreign investorsseeking to opencompanies

Friendly legislation

Montenegro hasavery friendly legislation for foreign investors.as itevenhas a Foreign Investment Law which guarantees a national treatment for foreign investors.who have the same status asthe domestic ones.

Growth

Montenegrohas beenranl<edthe world's5tl1fastest growing tourisnı destmationby the UNWTO in 2019

Dut' to time proxirmty (GMT+z). cuttural similarities and multilinguat capabilitıes.

Montenegra isan attraetive location for both in-house and outsourcad operational hubs

With unsaturated but fastdeveloping market. Montenegroisbecoming anext-wavo locationfor delivery of voiceandnon-veicebusinessprocessservicesandIT

Theturnover of IT anel business services seeterreached 56.3millian € ın 2020 Menıbers of the ICTCıuster achievad revenuegrowth of 25':" ofwhich7912%of revenuesareexports -atotal of 12.2million€,Thenumberofernployeesin the 30most suecessfullTcornpaniesinMontenegroin2020was704.

"Fornow.the ITseeter is successfullyresistingtheerisiscaused bythe coroııavirus pandemie.and our goal is to ereeteconditiorısfor the IT seeterto becomethe backboneof the future developmentof Montenegroandcl strongecononıic activity that willcreate leading export products.We are proud of thebusinessresults ofour founding members.and we areespeeiallypleased thatITexportsin2020increasedby almost 30~;;The outeoıııe oftheanalysisgives usconfirmation thatITis a promising branch.export-oriented.and further investmentin ITcancertainlyprovideanincontive forrecoveıy and strengtheningof the entireeconomy." - said TanjaDLIki':.Marketing Directorof ICTCortex

BPO&IT Providers in Montenegro

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Montenegra offers one of the lowest saLaries inaLmost aLLservice areas across European service delivery Locations

The fvlontenegrin labor code provic!es extremeLy flexible conditions for emptoyment

Montenegm has a government-mandated minimum wage. No worker ın Montenegro can be paid less tlıen this mandatory minimum rate of pay Minimum Wage is 250€.

Payment of overtime hours rnust bemore than usuaLworking hours, and exact paynıent is defined by the employment contract

AVERAGE GROSS MONTHLY FIXED PAY IN €

Information sel'\lic€'ac:livities IRIIB.'I532

Advertısing and market researcn

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Archıteclıır",ı andengineering activities ~%'I;~ 625

Otherprofessıonet.scientific and technicet activiııes

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Graduates

For a period of 10years. 6776 Montenegrins graduated from Universıty with a degree in electrical engineering. sciences. civil engineering and information technology.

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Numberof universitygraduates University ofMonlenegro Masters.

Faculty of electricat engine(erıng106 Faculty ofscıences.96

FacultyofCivilEngineering.55 Bachelor

Facı.ıltyofelectricalengineering 1945 Facultyof sciences:702

FacultyofCivilEngineering876 Specialist academicstudies:

Faculty of electrical engineering:1277 Faculty of sciences:489

Faculty of Civil Engineering 645

Ooctoral studies(PhO)

Facultyof electricalengineering 13 Facuttyof sciences:15

FacultyofCivilEngineering12

Mediterranean university:

Faculty ofInformation Systemsand Technologies

Bachelor- 140

Specialist acacemıc studies- 27 Masters- 22

UniversityDonjaGorica

Faculty ofInformation Technology Bachelor - 209

Specialist academicstudies - 139 Masters- 8

Graduatesfrom allfields(2011-2021) Specialist academicstudies 16607

Masters:2315 Ooctoralstudies(PhO)183

Populationwithsecondatv educatlon:61.2~~

Office Market

business hub of Montenegra

Demand is driven by newcompanies. expansion of thosealteady present on the market. as well as compantes currently occupying towerstandard offices.Themajority of demand wiLl continue to come from international and tocat companres that are aetively looking lo relocate from oLderand lowerstandard office buildings to newer and modern buildinqs.

SourosCotüers Monteneçro

Source: Cotüers Montenegro

Project GLA

ExHypo Alpe Bank Kraling

Building betweeriTHB

"Professor's Buildinq". Cijevna Komert Normal Tower The majority of office space. Europaint demand is broken down ınto 4 Capital.Plaza -

RiverbankTowik.' main sectors: comparuss Jugope....tr.öl ..

specializing inIT products and" ..Hidrornol'..

services (35%), banking,

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services(20%), health lndustry.']

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(15%)an me ıa(5%).

Rental [eveıSfor modern office space in Podg() c.'3."Jcı!lgE! bıeN(~E!ii\~ı,2;~)c office buildings on good locationsecarıbE!ı'enteda..•..

varies between 8 and 13€/m2jmOııth. .' .

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The following table shows a breal<down·of()ffif~

Theseprices represent range ofrental prices, and charqes.

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capitalPlaza Normal Tower

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Fast and reliable network connectivity enables providers running uninterrupted operations atoffices.as\'..reıı,~girnplenıent Wörk- . at-Home and hybrid models

Podgorıca. the capital has a largest supply A class business centers white commercial and stand-alone buildings suitable for business

Modern office spaces areavailable in all major cities of Montenegro

Scienee and Technology Park MontenegroisIoundedwiththe simof giyingthe suoport and strengthening the potentials ofeconomicgrowthanddevelopment of Montenegro. through establishment andgrOVlthofthecornpanlasz'tearus in high tech activities.As well.clspeciatactivity aspect ofScienceand Technology Park Montenegro is a supportin developiıı9 andcomrnercialization ofinnovative

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Internet Providers in Montenegro

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Montenegro Cyprus

Worldwide eost of a fıxed line broadband(per morıth) 2785$

27.21$ 28.99$

Croatia Montenegro Albania North Maeedonia

Eleetrieity cost (perkWh) 2020

988 ₁₀₃₁ 1301 14.48

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Montenegro isrankecı 50 anıong 169ecorıorrues in theoase ofdoinq business. accorcimq to the latest World Bank annuel ratings.

Starting aBusiness (days)

Dealing with Construction Perrnits ıdays)

Getting Electricity (days)

Registering Property (davs)

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Cost toexport: Border conıpliance (USDl

Total tay.and contribution rate

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Strengtlı oflegal r;ghts index (0-12)

Resolving lnsolvency: Time (years)

Montenegro

119 12

120 1701

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Business zones

Business zones cunentty exist inthefoll.owing rnurucipalitias Berane. Bijelo Polje. Cetinje. ı<olasin~.Mojkovac, Nikslc.POdgork~:aiıd Ulcifıj

lnvestors could beprovided with incentives at both.

level relate tothe following

•reduction of Lıtility oratlı erfees

·favorable price ofrenting / buying space wıtlun the business zone:

·reduction or exenıption from paymenl of surtax on personal income tax:

•reduction of real estate tax rate:

•the possibility of defıning cifavorabte model ofprivate-public partrıership:

· infrastructural equipping in areas where it does notexlst.