Hungary’s legal and business landscape is undergoing significant transformation, driven by a steady increase in M&A activity, rapid digitalization, and evolving regulatory frameworks, according to DLA Piper Hungary Partner and Head of Intellectual Property and Technology Zoltan Kozma.

Jovovic, Mugosa & Vukovic Attorney at Law Bojana Nikcevic discusses the impact of judicial delays, activities of the Bar Association, and the legislative changes that are set to reshape Montenegro’s competition law, business regulations, and corporate compliance in the country.

Sustainability-related disputes, cyber security issues, and corporate restructurings are shaping Austria’s legal dispute landscape, with courts and arbitration increasingly tackling ESG issues and greenwashing claims, according to Taylor Wessing Partner Ivo Deskovic who highlights a surge in insolvencies as well as the long-anticipated implementation of the EU Class Action Directive.

The recent 30-day lawyer strike has sent ripples across Serbia’s legal and business environment, disrupting key judicial and administrative functions and raising concerns about prolonged instability. Schoenherr Partner Igor Zivkovski discusses the strike’s impact, investor sentiment, as well as a promising corporate bond program, and the evolving regulatory framework as Serbia navigates a period of uncertainty.

The last two months have been marked by political uncertainty, according to Act Legal Romania Partner Mihaela Posirca. While challenges like a new tax on construction emerge, positive developments in deals and regulatory clarity provide a balanced outlook for the year ahead.

Highlights in Hungary are delayed real estate digitization, stricter ESG compliance, and regulatory deal flow complexities, according to Szecskay Senior Partner Judit Budai, with her projecting that sectors like IT, defense, infrastructure, and ESG compliance will dominate the agenda in the near future.

Pekin Bayar Mizrahi Senior Partner Selin Bayar discusses Turkiye’s economic challenges, rising labor costs, and evolving regulatory landscape in the financing world.

Amid the daily disruptions of war, Ukraine’s legal market has shifted focus to urgent areas like military law, sanctions compliance, and damage compensation, while adapting to workforce shortages and declining revenues, according to Asters Senior Partner Armen Khachaturyan.

Georgia’s post-election turbulence has cast a shadow over its business and legal landscape, with pro-EU momentum suspended as of now and investor confidence somewhat shaken, PwC Legal Director and Head of Legal Vano Gogelia reports. Despite the uncertainty, key sectors like construction, infrastructure, and energy remain active, providing cautious optimism amidst widespread challenges.

Austria is facing a challenging economic landscape marked by rising insolvencies, sectoral struggles, and shifting legislative priorities, according to Schoenherr Partner Markus Piuk, who highlights the resilience of the legal profession and the transformative potential of AI in reshaping it.

It's been a dynamic year for Croatia according to Kovacevic Prpic Simeunovic Partner Ana Novakovic Stipanicev, who highlights robust M&A activity, political stability fueling investor confidence, and key regulatory developments as reshaping sectors like energy, real estate, and public procurement.

As 2024 wraps up, Slovenia is thriving with growth in IT, healthcare, real estate, and renewables, according to Kavcic, Bracun & Partners Partner Aleksandra Mitic, who notes that despite external challenges, optimism is high and key projects and investments are setting the stage for an exciting year ahead.

Navigating the challenges of Bulgaria’s legal and regulatory environment requires a careful balance, particularly in light of ongoing political instability, according to Karushkov Legal Solutions Founder Mitko Karushkov who takes aim at systemic issues affecting legislative processes, judicial stability, and regulatory reliability, while highlighting the importance of proactive risk management and the potential for growth amidst uncertainty.

Radulescu & Musoi Partner Roxana Musoi reflects on a dynamic year for Romania’s M&A market, highlighting shifting entrepreneurial mindsets and opportunities driven by European funds.

Montenegro is seeing major changes with the election of a new Supreme Court President, the creation of a state-owned development bank, and tax reforms under the Europe Now 2 program, aligning the country with EU standards, according to Vujacic Law Office Partner Jelena Vujisic.

A tax reform, updated labor costs, and ESG compliance challenges are some of the main challenges facing businesses in Slovakia at the moment, according to CMS Partner Sona Hankova.

Serbia’s capital markets are maturing, with bond issuances expected in 2025 and renewed interest in alternative investment funds following reduced thresholds, according to ZSP Advokati Partner Nikola Sugaris.

Hungary’s economy and legal market have faced a tough year, shaped by political tensions, economic challenges, and global uncertainty, according to Pontes Budapest Partner Csaba Polgar, and from delayed investments to unpredictable regulations, the market has been navigating a challenging and uncertain landscape.