Podgorica, (MINA-BUSINESS) – The Government has adopted the Social Economy Bill, establishing the first comprehensive legal framework for the development of the social economy in Montenegro.

The Ministry of Labour, Employment and Social Dialogue explained that the proposed law, for the first time, clearly regulates the status, rights and obligations of social economy entities, establishes institutional mechanisms for monitoring their activities, and creates conditions for the long-term and sustainable development of a sector that generates both social and economic value.

The Bill envisages the establishment of a Register of Social Economy Entities, the creation of a Social Economy Council, and mechanisms aimed at improving transparency, accountability and the coordination of public policies in this field.

“The social economy is a business model in which economic activities are developed with the goal of achieving a positive social impact. For that reason, this bill brings significant benefits to citizens and society as a whole,” the Ministry said in a press release.

According to the press release, the implementation of the law will contribute to greater employment opportunities for persons with disabilities, the long-term unemployed, young people without work experience, women from rural areas and other groups facing difficulties in the labour market, creating new opportunities for their inclusion in employment.