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DPM Simović presents Concept of rapid breakthroughs in agriculture and fisheries sector worth EUR 89.4 million

DPM Simović presents Concept of rapid breakthroughs in agriculture and fisheries sector worth EUR 89.4 million
Published date: 23.07.2020 17:30 | Author: PR Service

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Deputy Prime Minister Milutin Simović presented the Concept of rapid breakthroughs in the agriculture and fisheries sector worth EUR 89.4 million, as part of the Government's Third package of socio-economic measures.

As part of short-term measures to support agriculture, support was created for the rescheduling of existing loans with Investement and Development Fund and commercial banks, by introducing a grace period of up to 12 months, with an interest rate subsidies in full in that period.

"Maintaining the orientation of support towards small family farms, growing their competitiveness and preserving their sustainability, the Concept envisages the generation of large drivers in key sectors that will contribute to fast, measurable and safe import substitution. At the same time, these large sector generators will be the drivers of a wide cooperative network of small farms that will be provided with reliable procurement of necessary raw materials, professional logistics and reliable product placement," said DPM Simović and added: "Numerous new high-quality and safe jobs will be created. The growth of competitiveness of these sectors will be ensured through the integration of domestic primary production and processing, which will give the finished products additional quality, better market recognition and a higher price. In addition to guaranteed quality and guaranteed continuity, short supply chains will give a special image to the tourist offer and the offer in all retail facilities.

Such organised large-capacity production plants would represent a kind of new model of commodity reserves of Montenegro in a certain group of important products, based on market principles.

The task of the new approach is to provide a greater degree of innovation. The innovation sector should go beyond the academic framework and should show its practicality, through involvement in specific projects.

In addition to relying on available natural resources, human capacities, tradition, the new projects will be based on the existing processing capacities, as well as on the Port of Bar - a key comparative advantage of Montenegro through which we will provide safer, price and qualitatively competitive procurement of key inputs for production.

With all this in mind, the Concept of rapid breakthroughs in the agriculture and fisheries sector has been created in this Government's Third package." 

This concept defines the directions of rapid breakthroughs for development worth around EUR 85 million, which will provide import substitution of over EUR 94 million.

The concept of rapid breakthroughs in the fields of agriculture and fisheries implies concrete projects in the fields of meat, fish, vegetables, fruits, flour and oil production.

For the realisation of these investments, special credit lines are planned to support the agro-industry and food production, under favourable conditions and with an interest rate subsidies during the grace period.

OFFICE OF THE DEPUTY PRIME MINISTER