BDO, the world‟s fifth largest accountancy network, is pleased to announce the admission of a new member firm in Montenegro.
BDO Montenegro was inaugurated in March and obtained its audit licence on 16 May 2011. The new firm is expected to grow rapidly in the next few years and its service offering will include audit, business advisory, tax advisory and accounting and outsourcing, as well as consulting and services to foreign investors.
Milovan Popovic, Managing Partner of BDO in Serbia, is taking the lead in developing the firm in its initial stages. He comments: “Unemployment and regional disparities in development are key political and economic problems in Montenegro but there are signs of recovery, with unemployment falling and a tangible increase in foreign investment. The European Council granted candidate country status to Montenegro at the December 2010 session and we expect real GDP to grow by 2.5% in 2011, accelerating to 4.5% in 2012. This is as a result of economic growth following a recovery in import demand in the euro zone, as well as an upsurge in
tourism”.
Mark Crawford, partner in BDO Montenegro, feels that this is the right time for BDO to be establishing a presence in the country. “Our client strategy is very much in alignment with that of other BDO firms, as we specialise in financial services entities and focus on the infrastructure and public sector, energy, resources and telecommunication industry sectors. We foresee a close cooperation not only with BDO in Serbia, but across the region and further
afield”.
Bojan Despotovic, Executive Director of BDO Montenegro, is in charge of operations. As an experienced professional, he will work to guarantee the high client service performance standards of the new BDO firm. |
