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Online payment system in 2021

Online payment system in 2021

The third package of social and economic measures includes plans for investment in IT economy worth €30 million by 2024.

It has also envisaged some immense tax reliefs and incentives to investments in this area in order to turn it into a leading export sector in our country.

The most important thing the Government has announced is the arrival of one of the three biggest global online payment companies, but Minister of Science, Ms Sanja Damjanović, didn’t want to reveal the name of the company yet.

The establishment of the entire system is planned for January.

The Government will earmark around €50.000 for costs of tender.

The biggest and the most important project is the establishment of Education-Innovation Center with technologies of virtual and extended reality, worth €25,5 million.

The partnership agreement between Science and Technology Park of Montenegro and EON Reality will be sign in September.

The second phase of the implementation of this project envisages establishment of AVR platform and initial procurement of equipment required for its implementation.

Around €1 million will be provided from the budget for this project while FDI will amount to €24 million.

The state will co-finance formation and work of a strategic IT cluster in the amount of €300.000.

One of the focuses of its work will be establishment of the Program of Lifelong IT education and creation of IT academy at national level.

Cluster represents action model of the organisation of companies and other related subjects and good practice of many countries that have been continuously supporting their development.

The first project is Establishment if Montenegrin strategic IT cluster for which the Government has earmarked €300.000.

The Government has drawn out plans for the establishment of the Center for supporting e-Commerce, worth €150.000 and implementation of the project “Innovations in the public sector” (€339.000).

In parallel with these measures, new legislative framework which consists of two new laws, envisages reliefs and incentives for development of innovations and startups: easier start of work of startups and by 50% reduction in taxes and contributions.

The law also envisages exemption from paying taxes and contributions for working on innovation projects and exemption from income tax for re-investing in innovation projects and exemption from income tax for investing in startups and funds for financing innovation projects.


Source: CDM


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