As Schonherr Head of Intellectual Property and Dispute Resolution practices in Bulgaria Ventsislav Tomov explains, Bulgaria’s delicate political situation and unreliable judicial system are creating a challenging environment for both local and international businesses. Amid these uncertainties, internal corporate investigations are on the rise, driven by cultural clashes between Western investors and Bulgarian management as well as growing concerns over compliance and governance.

Filip & Company Partner Catalin Alexandru dives into Romania's legal and business landscape, examining the impact of election-year dynamics on regulatory activity, the Constitutional Court's landmark decision on the windfall tax, the surge in public-private partnerships tied to infrastructure projects, and the general market trends.

Inlex Managing Partner Shkumbin Asllani reports on the country's ambitious goals for economic growth outlining Kosovo's recent legislative efforts to promote renewable energy, attract investments, and develop capital markets while remaining cautiously optimistic, noting that implementation could face challenges.

Vasil Kisil & Partners Partner Volodymyr Igonin reports ongoing reforms in Ukraine amid the challenges of war, highlighting ambitious governance reforms, particularly in the state-owned enterprise sector, and a drive to attract investment through privatization and risk-protection measures. Despite obstacles, Igonin notes that both local and foreign businesses are investing in Ukraine, reflecting a cautious optimism for the country's economic future.

Serbia appears to be entering a period of robust growth and transformation, driven in large part by Expo 2027 and targeted investment initiatives, according to MMD Advokati Partner Rastko Malisic. While the real estate and hospitality sectors are at the forefront of this boom, Malisic notes that other industries are grappling with challenges amid broader geopolitical uncertainties.

Slovenia’s real estate market is thriving, with robust foreign and domestic investments. Key legal and industrial shifts such as new work-life balance laws and reforms in the energy and healthcare sectors are reshaping its economic landscape, according to Krizanec & Partners Partner Dinar Rahmatullin.

North Macedonia’s new government is enacting a series of ambitious reforms focused on green energy, fair trade, and modern employment practices, including measures to stabilize electricity prices, incentivize energy efficiency, and regulate unfair trade practices, according to Bona Fide Law Firm Partner Aleksandar Kchev.

CMS Partner Evis Zaja reports rapid legal and economic developments in Albania, including upcoming amendments in the competition sector, new cybersecurity laws, and the country's increasing appeal to international businesses.

While economic indicators look solid for Bulgaria and there is considerable progress made in terms of its energy mix becoming more reliant on renewable energy, according to Kinstellar Partner Antonia Mavrova, the country faces ongoing challenges both in terms of keeping pace with decarbonization targets due to populist pushback and in terms of moving several projects past the finish line without a stable government.

Serbia's recent economic growth is driven by foreign direct investment, infrastructure projects, and advancements in several sectors according to Gecic Law Partner Miodrag Jevtic.

DLA Piper Partner Marta Frackowiak discusses the current slowdown in the Polish market, driven by geopolitical uncertainty, economic challenges, and hesitance among investors, while also highlighting key trends in M&A, employment, and regional expansion efforts by Polish businesses.

Montenegro’s financial sector is experiencing growth with record-high deposits and increasing trust in the banking system while advancing infrastructure projects and tapping into renewable energy opportunities, according to Keker, Bujkovic & Pejovic Partner Milan Keker.

ESG is complicating contract negotiations in Romania, as large-size enterprises impose heavy terms on mid-sized suppliers, sometimes leading to missed opportunities, according to RC International Disputes’ Managing Partner Ramona Cirlig, with climate litigation also rising, potentially impacting future disputes.

Croatia is undergoing significant legal changes, particularly with the introduction of a real estate tax aimed at addressing housing shortages and regulating property use as well as a new lobbying law, according to Ilej & Partners in cooperation with Karanovic & Partners Senior Partner Goran Ilej.

Slovenia is witnessing high levels of deal activity, particularly in M&A and corporate finance, according to Schoenherr Partner Vid Kobe, with banking sector consolidation leading the charge.

Moldova is in the process of implementing substantive legislative changes, according to PwC Legal Head in Moldova, Ilona Panurco, who outlines the country’s efforts to align with EU acquis, including updates in digital, environmental, and financial regulations.

In Estonia, the push toward renewable energy, particularly offshore projects, is gaining momentum, with recent developments in grid connections and government support schemes, according to Njord Partner Triinu Hiob who also reports on tax changes and judicial reforms on the horizon.

Serbia is quickly becoming a favored destination for foreign couples seeking marriage and new opportunities according to Stojkovic Attorneys Head of Labor and Immigration Mina Radojevic Vlacic.