Writes: Dusko JOVANOVIC, a representative in the Parliament of the Republic of Montenegro (10th September 2000. “DAN”)

We want “Accor” we don’t want “Accor”; we want “Timor” we don’t want “Timor”. The Budva’s and the Podgorica’s interests groups of DPS are fighting regarding the intended handing over three hotels of “Budvanska rivijera”.
“Accor” is silent, it doesn’t ask for much, just few pennies to pay, about 500 million DEM to “repair” the hotels.
It is completely wondering how anyone could come to rest in “Sveti Stefan” or “Kraljicina Plaza” before this “investment”. And what is 50 million DEM for us?
Dragan Ivancevic, the assistant of the Minister of Tourism (25th August) says to the ex owners of the land where the hotels were built, that they have no sense for profit. Actually, he claims that the ex owners of the land would only raise the profit after the raise of the property Budvanska Rivijera’s value through the credit arrangement. What Ivancevic suggests is to wait for 15-20 years.
Unlike them, “Timor” allegedly a company from Israel which should give us a credit with high interests and will not wait for that; it wants it right away. “Accor” also isn’t patient; its “brain” costs “Budvanska Rivijera” at least few million DEM a year. Even the Government of Montenegro is not patient; neither Dragan Ivancevic is because the contract has to be realized as soon as possible.
There is only appeal for the patience of the ex owners of the land. If they have waited for 50 years they can wait 20 more.
Simply said, Montenegrin people give their land which their state hasn’t returned them, to “a stranger” for using, they provide him more than 500 million DEM for the “beginning”, and at last people guarantee to “the stranger” that they will return the credit through “people’s government”.
Fair enough!
Unlike Ivancevic, Velibor Zolak the director of of the tourist organization (25th August) is worried what the manager of “Accor” will do when the members Army go out on the streets.
It seems that Zolak doesn’t know that as first, the members of the Army can go out on the streets once a week, and second they go out in civil clothes, so the managers of “Accor” can be sure that “their little capital which they invest” is secure.
Dragan Ivancevic in his answer to Velibor Zolak (26th August) said “imprudently” and the newspapers published the following:
“The foreign investors have more trust in Montenegro than those who are paid by the state”.
This statement indicates few conclusions:
First: “those who are paid by the state” are not allowed to think, and to do according to their own opinion but as they are said to do.
Second: “those who are paid by the state” don’t have trust in Montenegro because they know the privatization process in Montenegro and the undertakers of that process. And as they are personally interested in the destiny of “Budvanska Rivijera” in this case they reacted.
Third: the foreign investors “have trust” in Montenegro because they don’t invest anything so they cannot lose anything. In this job the foreign investors can only gain so they don’t need trust. Those who lose are the company “Budvanska Rivijera” and the ex owners self administration, the stock holders of “Budvanska Rivijera” and at the end the society in whole, as one time titular of the property.
They speaks from “Budvanska Rivijera” to the Government of Montenegro that besides the decision of the parliament and the Managing Board of the company these important agreements cannot be concluded, which is true.
If the Managing Board refuses to do so, the Government can, through the funds, remove all members of the Managing Board and its president Svetozar Marovic. This is the big bite but legally “clean” and feasible.
Analytically in the entire job the most suspicious is the credit line.
Actually “Accor” begins the job with the delayed condition, to sign the Contract with “Timor” for the credit line near 54 million DEM (so it is not 50 it is 54 million DEM).
Thus, the Government of Montenegro admits (“Vijesti” 31st August) that the interest in the credit is “CONSIDERABLY” higher then usually. How much considerably and how much is usually? Doesn’t the Montenegrin public have right to know that?
The Government of Montenegro guarantees the credit returning with the interest but anyway there is a MORTGAGE, too. So, if the credit of 54 million DEM, with who knows how much interest isn’t returned the hotels will be theirs (except “Sveti Stefan” and “Milocer”).
The possible and the most probable screenplay is the following:
- The credit itself will partially be invested into the hotels and the great part of money will “disappear” through different “provisions” and “stimulants”;
- It is clear that the hotels will not be able to pay the costs of maintaining high class, and at the same time to return the credit with high interests by their business;
- The political situation and “unstable security climate” will be the regular excuse and the reason why the wealthy guests cannot come;
- The hotels won’t be able and the Government won’t have money to return the credit, so they will activate the mortgage and the hotels will belong, without paying a dinar for them, to some fledgling rich Montenegrin, who is hiding his identity behind the so called credit lines from abroad.
The role of Svetozar Marovic, the president of the Managing Board of “Budvanska Rivijera” is very specific in all this.
As only he can, Svetozar Marovic criticizes the Government of Montenegro and at the same time he prizes the Prime Minister Filip Vujanovic in his statement (31st August). As if Filip were a councilor in the Government.
Svetozar knows it will be as Filip is saying, because that is Milo Djukanovic’s wish. As matters stand now Sveto will “lose” even “Budvanska Rivijera”.
However, he and Budva’s self-government lost “Budvanska Rivijera” when they allowed entering the state’s stocks of “Budvanska rivijera” in the process of 38, 62 per cent or as they were evaluated 179.412,030 DEM, as the stocks of the Government of Montenegro, forgetting the investment that the municipal of Budva has been doing for decades.
Aside trying of the opposition in the Budva’s parliament to correct this harm towards Budva, and the constant suggestions to put this issue on the agenda of the Municipal Parliament of Budva, the constant obstruction of this issue has been made by DPS.
Now when they are awake it is late. The citizens of Budva will slowly, but for sure stay without Budva.
However, “Budvanska Rvijera” was evaluated 464.557,302 DEM. The workers had 11, 44 per cent of this amount or 53.145,355 DEM, the citizens had 10, 83 per cent or 50.311,55 DEM, “Montenegro Banka” had 1, 36 per cent or 6.317,979 DEM the Government and the state funds as written before 37, 67 per cent or 174.998,735 DEM.
Nothing remained to the municipal of Budva and the local self-government.
This value and these value relations had been applied before the “Budvanska Rivijera” physical sale began. The stocks weren’t sold but the physical parts of the company which makes legally doubtful the whole system of the stock capital in Montenegro.
So till now the objects of “Budvanska Rivijera” have been sold like villa “Balkan”, villa “Manojlovic”, the restaurant “Stari Grad”, “Vidikovac”, “Zlatno sidro”, bar “Adriatik”.
Selling these objects made less valuable the stocks value of the company, in that way every stock holder of “Budvanska Rivijera” stocks was impoverished, and especially the workers and the citizens.
Considering that in the same way, the physical sale of the parts of the company is continued, they announced the selling of the restaurants: “Sunce”, “Golubin”, “Brezine”, “Sutjeska” and “Kastelo” in Petrovac, and the fall of the company’s value will continue, thus the workers will be robbed, as well as unsecured minor stock holders.
When these three hotels are given to “Accor” that will continually make the company’s value less for 155.252,720 DEM. Very little will remain to the workers and the company. The municipal of Budva didn’t nave anything anyway.
Even “icy-frozen” Svetozar Marovic should be “heated” by these millions.
If he will just bow his head, or “the head” of the Budva’s “politically-interested” group will fight with the Podgorica’s group we will see. However, according to Sveto’s “flirting” with Filip, it won’t be difficult for the bookmakers to guess.
(Note: the author’s picture of the happenings in “Budvanska Rivijera” until 31st August 2000.).