Podgorica, (MINA-BUSINESS) – The Government has adopted the Bill on the Governance of State-Owned Companies, aimed at improving enterprise efficiency, strengthening the management of state assets, reducing fiscal risks, and increasing their contribution to the state budget.

Minister of Finance Novica Vukovic said that the document marks one of the most important reforms.

“Today we are not presenting just a law. We are presenting a new phase of responsible governance, a new phase of professionalization, and a new phase of our country’s economic maturity,” Vukovic said at a press conference following the Cabinet meeting.

He stated that the law makes a clear choice: professionalism over improvisation, accountability over non-transparency, and long-term sustainability over short-term solutions.

According to him, Montenegro is, for the first time in its history, systematically, clearly, and comprehensively regulating the way the state exercises its ownership function in companies. 

“For years we have had a fragmented approach, divided competences, uneven criteria, and a lack of a unified vision for managing state capital. With this law, we are introducing full order, greater accountability, and higher standards of professionalization,” Vukovic added.

He also said that the role of the Ministry of Finance as the coordinator of the state’s ownership function is being strengthened.