The legal environment in the Czech Republic is currently undergoing significant changes, primarily focusing on the implementation of the NIS2 cybersecurity Directive, whistleblowing legislation, tax reform, and class actions, according to Rowan Legal Partner Josef Donat.

The recent dismissal of Vesna Dameva from her position as President of the Judicial Council of North Macedonia was both surprising and concerning – and could spell disaster for the country’s judicial system – according to Law Firm Joanidis Partner Aleksandar Joanidis.

Despite a potential recession and high-interest rates, the overall outlook for the Polish market remains optimistic, with robust M&A activity in sectors such as IT, infrastructure, renewable energy, and gaming, according to Clifford Chance Office Managing Partner Agnieszka Janicka.

As elections loom large, Greece continues to play to its strengths – with energy and hospitality & leisure leading the charge – while the legislative process has been slowing down and some investors have adopted a holding-pattern approach, according to Papapolitis & Papapolitis Partner Evi Tsilou.

Reconstruction efforts, the relocation and diversification of businesses, currency control restrictions buoying the local M&A market, and the restart of privatizations and concessions are among the key developments in Ukraine’s business landscape, according to Integrites Senior Partner Illya Tkachuk.

Slovenia strongly emphasizes infrastructure development as an integral component of its commitment to the green transition, together with developments in solar, wind, geothermal, and hydrogen energy projects, according to Selih & Partnerji Partner Blaz Ogorevc.

The political landscape in Montenegro is dominated by the upcoming elections and the formation of a new government – sometimes leading to populist measures that may negatively affect certain industries – yet sectors like energy, tourism, and IT keep experiencing growth, according to BDK Advokati Senior Partner Luka Popovic.

In the midst of ongoing political gridlock following Bulgaria's fifth parliamentary election in two years, industries such as energy, renewables, high-tech, and healthcare still make the country an attractive investment destination, according to Schoenherr Office Managing Partner Alexandra Doytchinova.

With political instability leading to a legislative stall in Slovakia, a spark of hope flickers through the freshly approved National Research Development and Innovation Strategy, according to Majernik & Mihalikova Partner Katarina Mihalikova.

Serbia seems to rank highly on the destination lists of foreign investors – as the country has been experiencing an uptick in M&A and the arrival of new players – with IT, pharmaceuticals, and energy being among the sectors seeing significant growth, according to Bojanovic & Partners Managing Partner Vladimir Bojanovic.

Despite the challenges, Croatia’s M&A market appears to hold promise in 2023 – particularly in the retail, IT, and renewables sectors – according to Ostermann & Partners Managing Partner Mojmir Ostermann.

Estonia is looking at reforming its tax system and the legal profession's standards, amid overall economic uncertainty that is impacting banking, finance, and start-ups, according to TGS Baltic Partner Kirsti Pent.