With political issues and economic sanctions being an everyday norm, Belarus finds itself in a bit of a pickle, according to Borovtsov & Salei Partner Vassili Salei.

Being the country with the highest growth rates in the EU, Romania is going strong despite the global pandemic conditions, according to MPR Partners Co-Founder and Co-Managing Partner Alina Popescu.

The Czech Republic is experiencing strong positive winds, irrespective of the severity with which the pandemic struck, and there are things aplenty to be happy about, according to Kocian Solc Balastik Partner Dagmar Dubecka.

Even with the political situation in the country being turbulent, Montenegro has a lot to look forward to, especially given the success of this year’s tourism season, according to Vujacic Law Partner Jelena Vujisic.

With the country still helmed by an interim government, it would appear that Bulgaria remains in a position to grow and prosper and is a fruitful target for investors, according to Boyanov & Co Partner Damian Simeonov.

With the country experiencing one of its record-breaking tourism seasons and the business sector booming, there are a lot of reasons to see the sun shining brightly in Greece, even with summer at an end, according to AKL Managing Partner Helen Alexiou.

With an interesting legislative pipeline and a full deck of elections announced for next April, Serbia finds itself in a place of opportunity right now, according to PR Legal Partner Milan Petrovic.

With the interim government firmly in charge until the upcoming elections take place, Bulgaria is experiencing strong economic wind in its sails, according to Wolf Theiss Partner Richard Clegg.

Even with the summer holidays firmly established in Hungary, the country is seeing activity across the board and a couple of interesting legislative updates stand to improve the landscape even further, according to Schoenherr Managing Partner Kinga Hetenyi.

According to Konstantin Mikhel, Managing Partner at Vlasova Mikhel & Partners, sanctions-burdened Belarus is slowly preparing for the change of its constitution. In addition, Mikhel reports that two sets of "pertinent amendments" have been passed recently – one to Company Law and the other to Advocacy Law.

According to Barbara Kusak, Partner at Noerr in Prague, the Czech Republic is currently preparing for its upcoming general elections. She also notes that the Czech economy shows no signs of contraction, despite the country’s abysmal COVID-19 infection rates, and that the infrastructure, IT, and e-commerce sectors are on the rise.

A significant number of updates, changes, and amendments to the legal framework of Bosnia & Herzegovina spells out a very strong positive direction that the country is moving in, according to Saracevic & Gazibegovic Lawyers Partner Emina Saracevic.

According to Avellum Partner Maksym Maksymenko, the key developments in the country’s economy revolve around infrastructure projects, agricultural land regime liberalization, and large-scale privatization of certain state-owned companies. Maksymenko also reports several updates in legislation, primarily in the areas of zoning and city planning, and capital markets.

With the summer months comfortably set in, Croatia is experiencing a most favorable tourism season which impacts all areas of business, according to Porobija & Spoljaric Partner Marko Porobija. 

The Polish economy has recovered quickly following the lifting of COVID-19 restrictions and the number of transactions is fairly consistent across various industries, reports Radoslaw Biedecki, Partner at Noerr in Poland. The country is pushing for further digitalization of its public services, but draft legislation on media ownership has him concerned.

Inga Kostogriz-Vaitkiene, Partner at CEE Attorneys in Lithuania, reports that her country’s economy is doing quite well at the moment and that additional regulation ensures the public procurement system will become greener. She also notes that there are two controversial laws in the pipeline related to cannabis use and LGBTQ+ rights.

According to Sergey Mashonsky, Senior Partner at Arzinger Law Offices in Belarus, his country is struggling to find economic balance amid the pandemic and the international sanctions. He reports that certain sectors, such as forestry, are doing well, while some others, such as the food packaging industry, have been negatively impacted in recent times.

Despite the recent escalation of the conflict in Eastern Ukraine and its negative impact on business in the country, Anastasiya Bolkhovitinova, Counsel at Kinstellar, says that telecommunications and IT have been on the rise, and significant legal changes were introduced on tech incentives, foreign direct investment, capital markets, and agricultural land.