M&A and Banking & Finance specialist Dimitar Zwiatkow has been promoted to Partner at CMS Reich Rohrwig Hainz in Sofia.
In December 2017, CMS published the latest edition of its annual “Infrastructure Index” report, which compares the political, economic, and legal environments for investors in infrastructure in 40 countries and constitutes a guide to the world’s most attractive destinations for infrastructure investment. According to the report, the five most attractive destinations for infrastructure investment are the Netherlands, Canada, Germany, the United Kingdom, and Australia.
Last year was a good year for the Bulgarian economy, which registered 3.6% GDP growth. The Bulgarian Government plans to further boost the economy in 2018, and initial projections vary from 3% to 4% growth. The main trigger for this will be the continuation of spending public funds on strategic infrastructure projects.
Croatia stands among the highest ranked countries when it comes to the compliance of its PPP legislative framework with international standards. Reports issued by international institutions such as the EBRD and the EIB have praised Croatia for its elaborate legal framework, strong institutional capacities, transparent procurement practices, easy access to justice (including arbitration), and a range of security instruments facilitating financing.
Austria is definitely lagging behind in terms of Fiber-to-the-Home (FTTH) penetration: According to recent data of the FTTH Council Europe, only one country worldwide has a worse penetration rate than Austria, while other sources suggest there are two countries below Austria. For this reason many initiatives have been implemented on municipal and provincial levels to provide Austrian households and undertakings with high-speed Internet access in parts of the country where a purely commercial assessment would not justify such investments. Obviously this is not yet enough.
For the past five years the financial market in Slovenia has been characterized by a process involving the selling of non-performing loan and leasing receivables (“Receivables”), mostly to foreign investors. According to information published by the Bank of Slovenia, Slovenian banks still have approximately EUR 1.5 billion of non-performing loans on their balance sheets, and we expect to see more of these loans being sold in the next two years.
Investors had reason to be apprehensive about the prospects of Emerging European markets at the outset of 2017: protracted Brexit negotiations hung a cloud over Europe; Eurosceptic parties were widely expected to succeed in imminent elections; and anti-immigration and nationalistic sentiments reared their ugly head.