I have always been a fan of marketing and felt that there was something special about it, even back before I had any real practical experience with it. My career started at an international law firm – Hogan Lovells – where marketing was handled both centrally and locally. I became a fan of the field and learned to consider the brand as something potentially very valuable and helpful both in attracting new clients and employees and in retaining existing ones. It also showed me that marketing activities must be conducted systematically.
While the COVID-19 pandemic has caused disruption to nearly all businesses in the logistics and manufacturing sectors in Central and Eastern Europe, enough time has now lapsed that identifiable trends and opportunities are beginning to emerge. CMS Partners Ana-Marija Skoko, Ivan Gazdic, Iain Batty, and Lukas Hejduk agreed to share their thoughts about the effect of the COVID-19 crisis on logistics and manufacturing developments in their local markets and across CEE.
The EU has been preparing for a substantial transition of its energy sector to address the urgency of climate change. The Czech Republic has proposed raising the share of its renewable energy sources (RES) in the gross final energy consumption from the current 15% (approximately) to 22% by 2030 to contribute to the EU-wide goal of obtaining 32% of gross final energy consumption from RES by the same year. This means there will be a focus on developing RES in the Czech Republic, and the Czech government also plans to substantially strengthen the role of nuclear energy while allowing the coal-fired energy to decline.
During the current pandemic crisis, courts in countries around the world have had to suspend their regular operations and have focused only on the most urgent and time-sensitive matters. Yet the first few online courts have been able to maintain regular service. This has led to a massive increase in interest in and awareness of online dispute resolution (ODR) and online courts among judges, arbitrators, mediators, and lawyers in general. The pandemic has highlighted the ability of ODR to keep operating in crises that impact physical operations. Suddenly Zoom and even email are being considered ODR technology because they enable online court proceedings and distant mediations.
Similar to other areas of human endeavour, healthcare is bound to undergo the inevitable process of digital transformation. In the last two years the Czech Republic has taken its first steps towards digitizing its healthcare system by introducing mandatory electronic prescriptions and electronic sick notes and is about to introduce an electronic medications record. Unfortunately, there has been little progress on other fronts. Moreover, the Ministry of Health has yet to complete its draft law setting common standards and rules for eHealth, and it is unlikely to meet its current goal of having the law go into effect in 2021.
Prorogation clauses are forum-selection clauses in contracts between entrepreneurs, who agree in writing on the local jurisdiction of a first-instance court for disputes arising out of or in connection with their business matter, unless the law states otherwise and prescribes an exclusive jurisdiction. It is possible to enter into a separate prorogation agreement instead of a contractual clause with the same effect.
Against a backdrop of global uncertainty fuelled by Brexit, a US-China trade war, and a weakening German economy, Central and Eastern Europe has proven itself economically resilient in the face of a challenging year. Led by Hungary, Poland, and Romania – all of which reported more than 4% GDPs growth – many emerging European countries have comfortably outshone the sluggish economies of Western Europe. It is, therefore, unsurprising that foreign investors flocked to the region in 2019 in search of healthy returns.
The Czech Republic has – due to its strategic location in the heart of Europe – always been an important transportation and business hub. It has one of the highest densities of railway networks in Europe, with almost 1,200 km of track for every 10,000 square kilometers in the country, and it is also an important road transportation hub.
Bond financing has recently become quite popular in the Czech Republic and companies often finance their business needs by issuing corporate bonds instead of the more usual credit financing. Obviously, the popularity of corporate bonds is also associated with the greater willingness of investors to buy them. Bonds are perceived by the general public as a safe and conservative investment instrument. Nevertheless, recent market developments show that corporate bonds issued by private companies may not always be a safe investment, as evidenced, for example, by the insolvency of online fashion store Zoot, which funded its expansion by issuing bonds.