The economy of Montenegro increased competitiveness and the creation of a modern industrial growth policy will be facilitated by the implementation of the industrial policy, a program that provides assistance to 2020 and for the implementation of which in 2016 were intended about 268 million.

The government has adopted in the last meeting new Industrial Policy until 2020 with the Action Plan for its implementation in the period 2016-2020. The plan aims to improve industrial competitiveness, investment for the modernization of industry, the promotion of innovation and entrepreneurship through an increase in productivity and employment as well as better access to local and international market by simplifying of trade procedures.

The budget for 2016 will be distributed as follows: national budget – 16.7 million Euros, the public sector (development investment fund, EPCG, CGES) – 130 million euro, IPA funds – 4.6 million euro, donations – 168,500 euro, the private sector – 116.1 million euro.

(ITALPRESS/MNA).

Source: medNews

The Minister of Industry, Trade, Investment and the Digital Economy, Moulay Hafid Elalamy, presented in Casablanca, the new investment charter. A text that the business world has been waiting for several years. It is based on three pillars – specific works, services and connectivity – which are supported by other measures, such as establishment of free zones, the establishment of indirect exporter status for subcontractors and restructuring of investment promotion and export organizations.

The new investment charter is based on consolidation of the instruments accompanying investors. Moulay Hafid of Elalamy, Minister of Industry, Trade, investment and the Digital Economy said that this paper takes into account a new size of investments, regional development plans and the decongestion axis Rabat-Casablanca-Tangier. This approach necessarily involves the offer in terms of regionally available quality of work. After two years of work conducted with the various associations, the minister said, were identified 427,000 jobs by 2020. The document contains, for the first time, the profiles available each year in each of the 12 regions, providing best signs for graduates and future investors. The investment reform is also based on key measures such as exemptions from corporate income tax for 5 years, and the granting of certain benefits for large investors wishing to locate their activities outside of the 12 areas.

(ITALPRESS/MNA).

Source: medNews

Malta and Saudi Arabia have signed a bilateral agreement to facilitate cooperation in the field of maritime transport. The deal was signed in Riyadh by Malta’s and Saudi Arabia’s transport ministers Joe Mizzi and Sulaiman bin Abdullah Al-Hamdan.

In a statement, Mizzi said that the agreement seeks to promote the development of the movement of commercial vessels passing between the two countries, to facilitate the transport of goods and people, and to strengthen the economic and trade relations between the two countries. 

It also seeks to achieve better coordination of the commercial marine traffic between the two countries, the development of technical and training cooperation, and information exchange in the field of maritime transport, as well as coordinating the positions of the two countries in international organisations and forums related to maritime transport.

(ITALPRESS/MNA).

Source: medNews

Michael Kors, the world-renowned global luxury lifestyle brand, is now available in Sliema, at the new MONO multi-Fashion brand concept store in Bizazza Street.

Michael Kors is an award-winning New York designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a wide range of products, including accessories, footwear, watches, jewellry, ready-to-wear and a full line of fragrance products. 

Run by businesswoman Diane Izzo, the concept store also houses the Italian brands Elisabetta Franchi and U Space Style Concept.

“We’re delighted to have been entrusted with one of the most renowned brands in the world, Michael Kors, topping our already long of partners,” said Diane Izzo.  

Michael Kors stores are operated in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.

Ms Izzo’s portfolio also includes the popular American Brands Guess and Brooks Brothers, as well as other fashion franchises, such as Terranova, Terranova Kids, Calliope, Liu Jo Donna, Liu Jo Uomo, 7 Camicie and Make-Up Store and the well known coffee house Caffe Pascucci.

(ITALPRESS/MNA).

Source: medNews

The prices of the hotels in Israel are among the highest in the world for both Israelis and foreign tourists. Despite airline tickets, compared to the past, much lower, according to the industry, the Israeli tourism industry still has substantial room for growth.

If for hoteliers prices are still very competitive, especially when compared to those in Europe and Jordanian average, due to stringent regulations which do not allow to increase the profitability margin, for the Minister of Tourism, Yariv Lavin, it is also increase the supply of the number of available rooms.

This is why the idea and to build in the next five years new category 2-3 star hotel with an offer of 15,000 additional rooms are able to expand the supply and reduce costs.

To do that the government has approved a plan to increase the proportion of funding for developers who build low-cost hotels bringing it from the current 20% to 33% on the one hand and on the other supporting the construction of new hotels in the regions of interest, such as Judea and Samaria

(ITALPRESS/MNA).

Source: medNews

The airport of Fès, in northern Morocco, has adopted new infrastructure to facilitate the arrival of new airlines and a greater number of connections. In detail, it has been built the new terminal 2, an area of 17,000 square meters, and the renovated Terminal 1. The airport currently has a total area of 22,600 square meters, can handle an annual traffic of 2,5 million passengers. The extension works have included new hangar to accommodate a larger number of devices and expanded parking lots for the cars of travelers. The construction of the new terminal required an investment of 479 million dirhams (42.8 million Euros), funded by the National Office of Airports and the African Development Bank. According to data from branched ONDA, the airport of Fez is compliant with standards set by ICAO (International Civil Aviation Organization) and is ISO 9001 and 14001.

(ITALPRESS/MNA).

Source: medNews

The EBRD (European Bank for Reconstruction and Development – European Bank for Reconstruction and Development) announced a loan of 86 million euros to Albania, and more precisely to its railway company HSH -Hekurudha Shqiptare.

This funding will be used to upgrade the railway line between Terminal in Tirana and Durres city of 34.7 km but also for the construction of a railway between the international airport and the terminal.

(ITALPRESS/MNA).

Source: medNews

The Slovenian Ministry of Agriculture, Forestry and Food has published in the Official Journal of the notice referred to sub 4.1 4. Support for investment in agricultural holdings for 2016 – Adapting farms to climate change. Allocated 6 million euro subsidy. Eligible costs: the purchase of agricultural land, the cost of construction or restoration of orchards, hop fields, new vineyards, purchase and installation of anti-hail nets, greenhouses and related equipment, the costs of crop plantations perennials, irrigation systems, investments in energy efficiency and the cost of producing energy from renewable energy sources on farms. The co-financing amount is equal to 30% of eligible costs, but can be increased by 5 percentage points for investments in areas with specific natural constraints; 5 percentage points for investments related to the agri-environment-climate payments and to organic agriculture; 10 percentage points for investments of social enterprises; 15 percentage points for collective investment; 20 percentage points for investments made by young farmers.

The percentages mentioned above can be added, but should not exceed 50% of eligible costs. The minimum amount is € 2,000.

(ITALPRESS/MNA).

Source: medNews

The import of white cheese and dairy products has recently been subject to obtaining prior license from the Lebanese Ministry of Agriculture.

Each institution that intends to import milk or white cheese derivatives, is to submit a request to the Ministry, indicating the country of origin of goods and the amount that is deemed to import.

This restrictive measure will be applied seasonally, from early January to late April every year, in order to protect local industry.

In 2015, Lebanon imported 39.024 tons of cheese, in the amount of $ 157 million. Main exporting countries are Egypt with 5,602 tons (14.4%) for a value of $ 14 million (8.9%) and Syria with 2,383 tons (6.1%) for a value of $ 3 million (1.9%).

(ITALPRESS/MNA).

Source: medNews

Prime Minister Joseph Muscat insisted any suggestions that Malta should hold an EU in/out referendum would be tantamount to “suicide”.

“We are already witnessing the shock in the UK. Malta has made its choice. We are a success within the EU and will continue to be so. Such talk of leaving would be populist, it would only serve as a threat to jobs”, Muscat said. 

Addressing a news conference, Dr Muscat spoke about the implications on Malta in the wake of the shocking EU exit referendum vote but repeated twice: “Malta is well prepared for the scenario”.

Malta will retain a zero VAT rate on food and medicines, despite the UK’s anticipated exit from the EU, Prime Minister Joseph Muscat said this morning. 

During accession negotiations, Malta had obtained a derogation to retain a zero VAT rate on grounds that the UK had set a precedent. Malta had established that the concession had now become permanent. 

Essentially, he said the UK’s exit from the European bloc did not pose any threat to Maltese banks. However, the government has already identified five companies with heavy UK importation which may need Maltese state support. 

There are an estimated 27,000 Maltese living in UK, of whom 1,025 are students. No impact is expected in the coming two years though after the UK’s exit, the fees for third country nationals would double.

“However, there are solutions. EU will discuss deals on this front. If there is no EU deal then we would seek a bilateral agreement between Malta and UK,” he said. 

It was still too early to analyse the impact on tourism but the number of British people visiting the island this summer was not expected to change. 

The UK is lined up to assume the EU presidency after Malta in 2017. Asked whether Malta was prepared to extend its term, Muscat said he would prefer to see Estonia assume that role. Estonia is lined up to take on the EU presidency in the first half of 2018. 

(ITALPRESS/MNA).

Source: medNews