24
Wed, Apr
37 New Articles

The Buzz in the Czech Republic: An Interview with Barbara Kusak of Noerr

The Buzz in the Czech Republic: An Interview with Barbara Kusak of Noerr

Czech Republic
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

“We are expecting general elections in October, so we are in the typical pre-election mood,” Kusak says with a smile. “It is difficult to make predictions, but I think that a major topic of the elections will be the country’s poor epidemiological situation and response, which heavily impacted the budget,” she says and notes that the country amassed a USD 20 billion deficit in the wake of the pandemic. Kusak also notes that the government keeps busy with the Czech Republic’s upcoming presidency of the Council of Europe.

As for the economy, Kusak reports that, overall, it still seems unfazed by the pandemic. However, she admits that certain negative effects are tangible. “The inflation is growing and our need for workforce remains,” she says and explains that the country lost potential investors due to not having enough manpower for certain projects.

Looking at individual industries, Kusak notes that e-commerce is doing very well. “We recently had a substantial investment in online grocery delivery platform Rohlik,” she says (as reported by CEE Legal Matters on March 9, 2021). Unsurprisingly, the IT sector is also booming, according to Kusak. She lists NortonLifeLock’s landmark Merger with Avast as one of the key transactions in the sector. In addition, Kusak reports that there has been no shortage of infrastructure projects. She points to the D4 motorway extension as one of the most recent examples (as reported by CEE Legal Matters on May 14, 2021). However, she notes that infrastructure projects aren’t really the primary drivers of the economy, with the Czech Republic already being quite developed.

Furthermore, according to Kusak, the automotive industry is getting back on track, after it was forced into shutdown by the pandemic, as well as the shortage of parts and materials. Also, Kusak says that the logistics sector is currently hot and has been for a couple of years. However, she explains that most of the deals are related to acquisitions, rather than the development of logistics centers, as there isn’t enough room and people “are complaining about having warehouses in their backyard.”

Finally, Kusak reports that there has not been much legislative activity in the last few months. However, she notes that the new FDI regulation, which imposes restrictions on foreign investments in strategic sectors, has been implemented in May 2021.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

Our Latest Issue