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									                         The Government of Montenegro
                    Deputy Prime Minister for Economic Policy



                      Energy:
             Responsibility for the Future
                                Vujica Lazovic, PhD



                                  5th VIENNA ECONOMIC FORUM
Investment Possibilities in The Countries from The Adriatic to The Black See and Caspian Region–
                                     TAKE THE REAL CHANCE
 Energy is power that makes the
         world go round

•Energy is the basis
for production growth
•Energy could
generate economic
growth by itself.
But…
• …consequences of using
  and producing energy made
  us to be energy responsible.
What does it mean to be energy
responsible?
   It means to be responsible
   towards nature, society and
   individuals
 • Use energy without endangering
   natural balances;
 • Provide continuous economic,
   scientific and technological
   development;
 • Provide enough energy for future
   generations.
Energy responsible to nature!

Different levels of scientific and technological progress

   Different levels of creative forces and production
                          relations

   Different levels of relations between nature and
                         society

           Rational use of natural resources
         Energy responsible to society!

Market economy makes contradictions between society
                   and nature:

   On one side, the bigger     On the other side,
  consumption and higher       unsafe nature is not
    demand require bigger      favorable
  production, thus greater     environment for
   consumption of energy.      business.



       Living environment has become a significant
             element of the standard of living.
 Energy responsible to individuals:

Harmonization of
demographic changes
pointing average growth,
with exploitation of natural
resources and
technological progress.
Montenegro approach to energy
reasonability

• Montenegro, as ecological state and
  developing economy, has recognized its
  national interest in sustainable development
  of both energy sector and economy as a
  whole.

• Energy Community Treaty, under the same
  rules of energy policy, integrates EU and
  countries of the South-Eastern Europe.
Strategy of Energy Sector Development
of Montenegro until 2025


          Current:    Perspective:
    Energy import     Energy
      dependence      independence and
        (46%) and     preservation of
significant natural   natural
 energy potential.    environment.


   Energy investment in Montenegro is a
    business challenge for the state and
              private sector.
     Additional positive signals to
           energy investors

• euro as official
  currency,
• favorable tax policies,
• openness to flow of
  goods and capital,
• elimination of
  business barriers.
Shortage of fossil fuels and political
impact on their prices has
macroeconomic implications.

• domestic energy production,

• models of public-private partnership,

• renewable sources of energy and use of
  pure technologies in exploitation of fuels.
          Energy Projects

   Project of capital increase of Electricity Company of
    Montenegro

   Project of big hydro power plants construction

   Project of joint venture in the second block of Thermo Power
    Plant Pljevlja

   Projects of wind farms

   Programs and projects of natural gas exploitation in the off
    shore and on shore
    Additional impulse to investors’
    confidence-recent economic trends in
    Montenegro (jan-jun 2008):

   Real GDP growth rate: 8%,
   Inflation: 6.7%,
   Unemployment rate: 10.7%,
   FDI growth rate: 15% (2007: 1
    billion € or 1600€ per capita),
   Reduction of taxes and
    contributions by the year
    2010.
Using domestic energy, particularly
renewables, we raise the country
competitiveness; create new jobs;
open doors to new technologies and
know-how.
Summary, good energy policy is able to find
                         optimal level of :
                  • Energy productivity,
                  • Energy responsibility,
                  • Energy sustainability.
                      The Government of Montenegro
                 Deputy Prime Minister for Economic Policy



           Thank you for your attention!



vujica.lazovic@gov.me

								
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