A slight decline in the Montenegro Stock Exchange indices and low trading volume marked the week in which Montenegro officially closed Chapter 5 – Public Procurement – in Brussels as part of its EU accession process.
The MNSE10 index, tracking the ten largest companies, and the MONEX index both fell by 0.3%, closing at 1,176.36 and 17,643.8 points, respectively. Trading volume amounted to €116,470, which is 644 times lower than the previous week.
Chapter 5 is the first negotiation chapter under the Ministry of Finance’s jurisdiction that Montenegro has closed since beginning EU accession talks 13 years ago. The Ministry of Finance highlighted the chapter’s significance, stating it impacts every citizen and that efficient public procurement leads to better schools, hospitals, infrastructure, and services.
Finance Minister Novica Vuković described closing the chapter as a major professional achievement, noting it is the first chapter related to both his ministry and the rule of law to be completed during his mandate. Prime Minister Milojko Spajić called the milestone an important step toward Montenegro’s EU accession, emphasizing the chapter’s focus on governance quality, transparency, accountability, and anti-corruption.
During the week, shares of Hotelsko turističko preduzeće (HTP) Ulcinjska rivijera dropped 20% to €6.36, Port of Adria fell 8% to €0.24, and Luka Bar decreased 3% to €0.32. Conversely, Napredak Kotor rose 19% to €0.05, Crnogorski Telekom gained 1.3% to €2.30, and Budvanska rivijera increased 0.6% to €7.30.
Prices remained unchanged for Institut „Simo Milošević“ (€58), TPC Ražnatović (€12.78), Sveti Stefan Hoteli (€5.50), and Crnogorski elektroprenosni sistem (CGES) (€1.20).
At CGES’s shareholders’ meeting, it was decided to distribute a gross dividend of €5 million from last year’s net profit of €24.83 million. The remaining €19.83 million will be retained to finance an ambitious investment cycle and cover regulatory negative adjustments. The dividend payment affirms CGES’s business stability and commitment to shareholder value.
Zetatrans shareholders also decided to retain last year’s profit of €1.29 million and accumulated earnings of €2.2 million to fund the construction of a storage facility in Podgorica. The shareholders approved the company’s annual report and financial statements audited by Certitudo.
The government approved Elektroprivreda Crne Gore’s (EPCG) request for executive consent to a long-term loan of €25.63 million from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the 21 MW Gvozd 2 wind farm project.
Maritime Minister Filip Radulović announced plans to replace the board of directors of Crnogorska plovidba due to numerous irregularities over an extended period, as well as to file criminal charges related to malfunctions on the ship Kotor, which has been detained in the United States.
Radulović explained that the Kotor vessel has been held in the Savannah port for a week due to several irregularities. An analysis of Crnogorska plovidba’s fleet was only possible after a May agreement between the Bar and Kotor shipping companies, under which the Bar company paid an advance of €1 million to Kotor to address its liquidity problems.
He also noted it was unusual for parts of the ship to break down, given the vessel underwent a regular five-year overhaul in 2022 costing €1.4 million.
Radulović said he will file criminal complaints against unidentified individuals (NN) responsible for these issues.
