February 3 (SeeNews) - The Montenegrin government said it plans to grant a total 1.48 million euro ($1.59 million) to local companies in support of direct investments.
The total value of the investment projects that have qualified for financial support so far stands at 7.18 million euro, the Montenegrin government said in a statement on Thursday.
The projects will allow the opening of 253 jobs in the next three years. The government has already paid a total of 681,330 of the 1.48 million euro grants.
The incentives are being awarded to investments projects with a minimum investment value of 500,000 euro that provide jobs for at least 20 new employees within a period of three years
The awarded grants are paid in three instalments equal to one-third of the overall amount awarded each. The third instalment is paid after the investment project is completed.
($ = 0.9311 euro)