In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around, we asked: For 2025, what is the one sector or industry in the country that shows the most promise for growth, and why?
Octavian Popescu, Popescu & Asociatii, Romania: In 2025, the sector with the greatest growth potential in Romania is undoubtedly technology and innovation, driven by advancements in artificial intelligence, cybersecurity, and digitalization. This industry continues to be the primary engine of our economic expansion. Romania benefits from a highly skilled workforce in critical fields such as Big Data, communication networks, and cloud computing, an IT sector that accounts for over 20% of exports, and a thriving entrepreneurial ecosystem backed by significant foreign investment.
The growing demand for cutting-edge solutions such as 5G infrastructure, edge computing, and blockchain-based financial services further solidifies this trend. Geopolitical shifts and supply chain relocations also present opportunities for Romania to become a hub for local tech production and development, especially in collaboration with European partners.
While renewable energy plays a crucial complementary role, with untapped potential in solar and wind power, alignment with EU decarbonization goals and funding programs will accelerate its growth. However, technology remains the core driver due to its capacity to generate quick returns and address vulnerabilities like energy imports or inflationary pressures. Strategic investments in AI, cybersecurity, and digital transformation will not only boost GDP but also enhance Romania’s economic resilience and global competitiveness.
Ion Nestor, Nestor Nestor Diculescu Kingston Petersen, Romania: The progress made in Romania’s energy sector in recent years is already visible in the increase in investment volumes and the launch of many large projects.
Romania continues to make strong progress in transitioning to renewable energy, the country remaining attractive to investors, and new photovoltaic parks are expected to become operational this year. However, this rapid growth highlights a major challenge: insufficient energy storage capacity, a key issue for the national energy system.
In the natural gas sector, there are ongoing projects to increase the injection, storage, and extraction capacity of natural gas storage facilities. When these projects are completed, Romania will significantly increase its energy security, becoming one of the safest countries in the EU in terms of gas supply security to end consumers. In addition, Romania continues to implement major projects, such as the exploitation of gas from Neptun Deep, the development of the Romanian civil nuclear program, and the construction of photovoltaic panels and battery production plants.
Dino Gliha, MGG Law, Croatia: From my perspective, the most promising growth sector for 2025 in Croatia is artificial intelligence. Since late 2022, the democratization of AI has transformed market dynamics, shifting from early excitement to widespread, practical application. As businesses increasingly integrate AI to drive innovation and efficiency, they face new challenges that extend beyond traditional operational concerns.
In response, regulatory bodies have enacted significant measures – within the EU, most notably the EU AI Act, which imposes risk-based rules on AI developers and deployers. This evolving regulatory landscape highlights emerging AI-related issues, such as transparency, harmful practices, and data processing. In parallel, distinct intellectual property challenges – such as issues surrounding the training of AI models and rights over AI-generated outputs – are emerging independently of this regulatory framework.
Increased legislative activities raised awareness among stakeholders of the perils and responsibilities organizations dealing with AI might have. Industry leaders are proactively addressing these legal complexities, yet many organizations are still in the early stages of understanding their obligations. As AI matures, aligning robust legal frameworks with technological advancements is essential for fostering sustainable growth and complying with legal and ethical obligations.
Ondrej Peterka, Peterka & Partners, Poland: In 2025, the Polish aviation industry is experiencing dynamic growth in three key sectors: passenger traffic, aviation infrastructure, and cargo transport.
Passenger traffic has recovered post-pandemic, with 59.5 million passengers passing through Polish airports in 2024, and projections show further growth in the coming years. The growth is driven by new routes, increased flight frequencies, and rising demand for leisure and business travel. Improved connectivity and the expansion of air travel options are further fuelling this increase. Aviation infrastructure is undergoing major changes, particularly with the Central Communications Port (CPK) project. The CPK project aims to create a major international airport and integrated transport hub near Warsaw. Construction is due to start in 2026, with the first phase opening in 2032, initially serving 34 million passengers a year, with room for expansion as demand grows. Cargo traffic is also increasing thanks to improved infrastructure and the planned development of CPK. The number of freighters and cargo on passenger planes will grow. Poland is set to become a key logistics hub in Central and Eastern Europe, boosting economic growth and improving transport efficiency. These advancements indicate a promising future for the Polish aviation industry in 2025 and beyond.
Kostadin Sirleshtov, CMS, Bulgaria: 2025 will be the year of electricity storage in Bulgaria. This comes because of several factors: i) Free money from the EU: under the Recovery and Resilience Plan both the photovoltaic and battery energy storage systems (BESS) – so-called co-located BESS (estimated 1.6 gigawatts) and stand-alone BESS (estimated 3 gigawatts); both these co-located and stand-alone BESS projects will enjoy up-to 50% grants from the EU; ii) Feasibility of BESS projects – even those projects and investments that are not eligible or were not ranked among the winning projects under the Recovery and Resilience Plan are likely to consider and invest into battery storage, as the price of these systems dropped dramatically as a result of the increased volumes and demand; iii) Push by the financial institutions – many financial institutions adopted the view that new generation projects can’t be eligible for financing if lacking BESS. This is yet another factor for the expected boom.
Goran Cvetkovic, Adria Legal Group, Serbia: In Serbia in 2025, despite local, regional, and global challenges, we believe that the energy sector, and within it, the renewable energy sector, has the potential for growth. The balance between traditional and renewable (clean) energy sources in Serbia is still largely in favor of traditional sources compared to the average. In this regard, we expect the pendulum to shift toward renewable sources.
Regarding the construction process, regulatory improvements have been made to enhance the efficiency of issuing all necessary documents and permits for construction. This applies not only at the national level but also at the level of local governments. Additionally, progress has been made in grid connection, with the third round of feasibility studies and contract finalization currently underway at Elektromreze Srbije.
We believe that progress must be made regarding prosumers, as the current limitations are not incentivizing and are more aligned with self-consumption, which distances us from the true prosumer concept.
An additional challenge is project financing, given the low price of PPA contracts, which automatically requires higher equity for project financing. Nevertheless, we remain optimistic and look forward to further growth.
Olexiy Soshenko, Redcliffe Partners, Ukraine: Given the ongoing attacks on Ukraine’s energy infrastructure, including the capture of the Zaporizhzhia nuclear power plant and the destruction or damage of hydroelectric facilities, it is evident that the Ukrainian energy system is in a dire state. This situation necessitates a multifaceted approach not only to develop alternative energy sources but also to implement non-traditional methods to ensure the safety and reliability of these new power sources.
The initial wave of investment in alternative energy occurred prior to the full-scale invasion in 2022; however, many wind and solar farms in the southern and southeastern regions are currently under occupation. In light of this situation, the Government of Ukraine actively encourages investment in renewable energy projects, including wind, solar, and biogas.
We are witnessing a growing number of renewable energy projects being developed in the western part of Ukraine, which is situated far from the war zone. Furthermore, the innovative solutions being explored, such as integrating alternative energy sources with batteries and employing various techniques to enhance the viability and resilience of these projects against wartime and economic risks are worth noting.
Zoltan Faludi, Wolf Theiss, Hungary: For 2025, both the green energy and automotive industries are showing significant promise for growth in Hungary. These sectors are poised to benefit from key investments, government policies, and Hungary’s strategic position within Europe.
As Hungary further aligns with EU sustainability goals, the green energy sector will continue to experience considerable growth. The government is actively supporting renewable energy initiatives, including solar, wind, and energy storage solutions. This growth is not only environmentally beneficial but also economically promising, as it leads to new job opportunities and infrastructure development.
Hungary’s automotive sector is also on track for robust expansion, driven by major investments in new production facilities, such as BMW, BYD, and CATL, which are anticipated to commence production soon. As global automotive manufacturers shift toward electric vehicles (EVs) and new mobility solutions, Hungary is emerging as an important hub for automotive production in CEE. New production sites, along with the expansion of existing plants, will create a surge in manufacturing activity and technology advancements, particularly in EV and battery production.
Together, these sectors are not only vital for Hungary’s economic diversification but are also interconnected, with green energy supporting the electrification of transportation and automotive companies playing a crucial role in sustainable development.
Ivana Ruzicic, PR Legal, Serbia: In 2025, the food and beverages industry in Serbia holds strong potential for growth, driven by shifting consumer preferences and market innovation. Consumers are becoming increasingly focused on health-conscious choices, product origin, and environmental impact, expecting brands to offer high-quality, sustainable, and transparent solutions.
The demand for plant-based products, functional foods, and eco-friendly packaging continues to rise, alongside the growing importance of online sales and digital services. These trends are reshaping the market, creating opportunities for businesses that can deliver products aligned with new consumer expectations.
To succeed in this environment, companies need to invest in product quality, technological advancements, and sustainability practices while ensuring compliance with increasingly complex regulatory requirements.
Balazs Dominek, Andersen Legal, Hungary: If I had to pick one, I expect the residential property market to boom this year. Regarding existing properties and properties under construction, a significant rise in both prices and the number of transactions has already been registered early this year. Further price increases are expected due to the limitation of the supply side triggered by the low number of new constructions in recent years, accumulated savings from state bonds to be released, and government measures to facilitate financing.
The booming of residential property prices in itself might have little relevance for legal practices. However, respective actions of the government to mitigate the effects of booming prices and to relaunch new constructions – such as subsidies available to real estate funds – will trigger demand for respective legal work. Such advisory and real estate law work has been missing from the market for a while.
Pavel Hristov, Hristov & Partners, Bulgaria: In my view, there is not one sector or industry but a blend of two industries: energy and technology. Bulgaria has strong traditions, academic and practical expertise, and thriving businesses in both areas. We currently have a special generation of entrepreneurs interested in and invested in different forms and combinations of technologies and energy sources, consumption, and storage. Solar, wind, geothermal, hydrogen, biomass, batteries, charging stations, hardware and software solutions, and related services, e.g., engineering, design, and construction of solar plants globally.
Tech and energy businesses collaborate and combine increasingly and will, beyond doubt, create significant growth and investment opportunities in the near future.
Borislav Boyanov, Boyanov & Co., Bulgaria: Recent trends in Bulgaria’s energy sector are focused on: the growth of renewable energy, including renewable hydrogen and the installation of storage batteries; the construction of nuclear power capacities (units 7 and 8 of Kozloduy NPP) and plans for exploring modular reactors; enhancement of energy infrastructure, particularly through increased investments in electricity transmission, distribution grids and development of smart grids; diversification of energy sources, such as geothermal energy. Efforts are also being made to achieve full liberalization of the electricity retail market, including the introduction of new legal frameworks related to the compensation mechanisms for electricity suppliers in the retail market.
Bulgaria is actively reducing its dependence on Russian energy imports by leveraging LNG terminals in Greece and Turkiye. Examples of projects aimed at guaranteeing the security of the energy supply include the Carmen electrical interconnector with Romania, increasing the capacity of the gas corridor between Greece, Bulgaria, and Romania, rehabilitating the Chaira hydro-power plant, and increasing the capacity of the Chiren gas storage facility. Additionally, Bulgaria is working on strengthening its energy connectivity and aims to become one of the largest balanced capacities in Europe by building new pump-storage hydropower plants at Dospat and Batak, along with battery installations.
Jakub Celinski, Dentons, Poland: We are witnessing a growing appetite for investments in sustainability, energy transition, decarbonization, and energy efficiency. This translates into a significant demand for infrastructure development across the energy (heating), transportation, and social infrastructure sectors. The infrastructure sector is expected to experience substantial growth, fueled in part by the absorption schedule of EU funds allocated to Poland.
Key investment areas will focus on transportation – particularly low-carbon transport – and energy, with flagship projects including the Solidarity Transport Hub, which encompasses airport construction and high-speed railway, as well as offshore wind developments. On a regional scale, the reconstruction of Ukraine will also require extensive investments, further shaping the infrastructure landscape. Additionally, we are observing a rising trend in defense-related investments across the CEE region.
Pal Jalsovszky, Jalsovszky, Hungary: Hungarian economic prospects are rather gloomy this year for various reasons. Neither developments in the world’s economic or political situation are favorable for Hungary, nor our domestic tendencies are promising. There seems to be no such specific industry or sector that would make a clear exception to this trend.
I believe, though, that there will be individual success stories. As our world is still IT-driven, many of these stories will be connected to technology. Further, as both the maintenance of our life standards and the rapid growth of AI are dependent on extensive energy consumption, players in this sector will also be among the winners.
Christoph Mager, DLA Piper, Austria: When it comes to sector focus, I would definitely see technology in the lead in 2025. Austria’s technology sector, particularly in AI, cybersecurity, digitalization, industrial innovation, and data analytics, is poised for significant growth. The tech industry has experienced a significant growth rate since 2023, with companies actively seeking professionals skilled in these areas. The Austrian economy needs to adjust supply chains, supporting domestic manufacturing, robotics, and high-tech production. This requirement aligns with Austria’s strategic focus on advanced industry and technology. Companies focus on integrating AI-driven automation to enhance efficiency.
The tech sector creates transforming industries, and with MiCAR, it is strengthening Austria’s position as a fintech hub.
The fast development in the tech industry is supported by an increasing number of foreign direct investments, mainly from US global players. We see that they have an active eye on highly innovative Austrian-based start-ups, which made the US the second largest investor in the last years.
Overall, in Austria, we will see a prioritizing in technology-driven growth, making it an increasingly attractive market for investors and businesses in 2025.
Djura Mijatovic, Zivko Mijatovic & Partners, Bosnia and Herzegovina: In 2025, Bosnia and Herzegovina is witnessing strong growth across key industries, including IT, consumer goods, and food production. The IT sector stands out, driven by digital transformation efforts and increasing investments in technological infrastructure. With a growing base of skilled professionals, the country is solidifying its reputation as a regional hub for outsourcing and software development.
The consumer goods industry, particularly in food and cosmetics, is expanding as demand for high-quality, sustainable products rises. Local businesses are innovating to meet market expectations, strengthening their presence both domestically and in regional markets.
Additionally, the luxury goods and automotive sectors are gaining momentum. Rising disposable incomes are driving demand for premium products, while investments in automotive manufacturing and distribution continue to boost the industry’s growth.
Borivoj Libal, Eversheds Sutherland, Czech Republic: In 2025, AI and automation will likely continue to attract investment, driving efficiency across industries, particularly in smart manufacturing and fintech. The country’s strong IT talent pool and increasing adoption of AI-powered analytics, robotics, and process automation are reshaping business operations and boosting competitiveness.
Manufacturing remains one of the pillars of the economy, with innovation in industrial automation and sustainability boosting its resilience. The sector is adapting to supply chain shifts and increasing investments in high-tech production, including electric vehicles.
Retail is transforming through e-commerce growth and omnichannel strategies. Consumer demand for digitalization is reshaping the industry, alongside evolving regulatory requirements.
A major cross-sector shift is the adoption of NIS2, DORA, and other related regulations, which will significantly impact cybersecurity and operational resilience. Businesses must enhance compliance frameworks, particularly in finance and critical infrastructure, driving new investments in security solutions.
Nenad Popovic, JPM & Partners, Serbia: With a total investment in EXPO 2027 estimated at EUR 1.29 billion, EXPO 2027 in Belgrade will be the main driver for the growth of the construction sector in Serbia.
This infrastructure project includes the construction of the Aquatic Center, a residential complex with 1,500 apartments, the Zemun railway connection to Nikola Tesla Airport, the new EXPO 2027 venue, and a new wharf on the Sava River, which will inevitably boost Serbia’s construction industry growth not only in 2025 but also in 2026.
Bernhard Hager, Eversheds Sutherland, Slovakia: We do not expect significant growth in any sector in Slovakia. The country’s backbone of economic growth is the automotive sector, and this sector is under pressure because of Chinese producers, the erratic, unpredictable, and protective steps of the Trump administration, and a general slowdown of car sales. On the other hand, Slovakia has a significant defense industry, and for obvious geopolitical reasons, this sector is growing. Maybe the only one in 2025.
Lana Stojs, Gospic Plazina Stojs, Croatia: In 2025, the banking sector in Croatia is expected to grow, driven by a combination of regulatory reforms, technological advancements, and evolving customer preferences. Digital transformation and fintech integration are continuously influencing banking services, and it is highly likely that traditional banks will continue to enhance their digital offerings. With the Instant Payments Regulation coming into full effect and Croatia also moving toward a cashless society, banks are expected to adopt new technologies to accommodate digital-only transactions. On the other hand, sustainability and green finance continue to be in focus for the banks, as both regulatory frameworks and customer demand push for greater integration of ESG principles into banking operations. In 2025, Croatian banks will likely offer more green financial products, such as green bonds and credit lines that support sustainable projects, especially since in January 2025, the European Green Bond Regulation was implemented into the Croatian legal system, thus aligning the Croatian legal framework with the European Green Bond Standard.
Milos Vuckovic, Karanovic & Partners, Serbia: Serbia’s food industry stands out as one of the country’s most promising sectors for growth in 2025. With a rich agricultural tradition, over 5 million hectares of farmland, and favorable climate conditions, Serbia is a powerhouse in food production and export. The industry’s total market size is projected to reach EUR 6.8 billion in 2025, with steady growth driven by strong international demand and modernization in food safety.
Fruit production remains a key sub-sector, with Serbia ranking as the top European apple exporter to Russia. The fresh fruits market alone is expected to reach approximately EUR 1.03 billion by 2030, growing at an annual rate of 6.41% between 2025 and 2030.
With Serbia’s GDP forecasted to grow by 4.5% in 2025, the food industry is well-positioned to expand further. As demand rises across Europe, the Middle East, and North America, Serbia continues to maximize its agricultural strengths, blending tradition with innovation to enhance its place as a leader in food production and export.
Oleksiy Feliv, Integrites, Ukraine: Ukraine’s energy sector has been defined by the government as a top priority sector for rebuilding both during and after the war. The development of the energy sector is driven by two factors – severe damages caused by the Russian strikes and ambitious energy transition goals (27.1% of energy use to come from renewable sources by 2030) set by the government.
As a result, energy projects are experiencing rapid development. To keep the grid stable and enable higher penetration of renewables, in 2024, the national transmission system operator auctioned 5-year ancillary services offtake agreements for battery storage and gas peaker projects for around 400 megawatts. Another 300 megawatts are to be auctioned in the I-II quarters of 2025. Some 700 megawatts of balancing capacities have been put up for auction with a 10-year support scheme.
Availability of financing from the IFIs and DFIs resulted in further development and construction of solar and wind power generating capacities. In 2022-2023, around 1,500 (MEU, SEAU) megawatts have been put into operation. More to come in 2025.
Additionally, projects related to green gases, namely biomethane, took off after the Parliament passed a law on access to the natural gas infrastructure (pipelines and storage) in 2022. In 2025, the first factory built in Ukraine during the war exported biomethane to the EU.
Finally, Ukraine’s minerals deal with the US includes conventional energy sources such as gas and oil, so these sectors might soon experience a boost too.
Eren Kursun, Esin Attorney Partnership, Turkiye: The gaming industry in Turkiye continues to stand out as one of the most promising sectors for growth. The Turkish gaming ecosystem experienced a significant boost during the pandemic, driven by lockdowns, which resulted in the rise of unicorns like Peak Games and Dream Games. Post-pandemic, the industry faced a drop in valuations together with peers across the globe due to various reasons. However, the Turkish gaming ecosystem has shown remarkable resilience and a strong bounce back. Some examples are Good Job Games and Grand Games, both start-ups that recently secured significant Series A funding figures, marking those two as the largest Series A rounds in Turkiye’s history.
Looking ahead, the growth prospects for 2025 are further bolstered by the emergence of new venture capital firms dedicated to the gaming sector in Turkiye. These firms have substantial dry powder ready to be deployed and have been showing substantial interest in the Turkish gaming sector.
Djura Mijatovic, Zivko Mijatovic & Partners, Serbia: In 2025, Serbia’s economy is poised for growth, with the ICT sector at the forefront. A skilled workforce and supportive government policies have positioned Serbia as a regional tech hub, attracting global companies and driving digital innovation. The country’s investment in digital infrastructure continues to strengthen its role in the ICT industry.
The automotive sector is also expanding, particularly in electric vehicle (EV) production. Serbia’s manufacturing base, bolstered by foreign investment, is set to benefit from the launch of the electric Fiat Panda, produced in Kragujevac. As demand for EVs grows, Serbia is emerging as a key player in Europe’s automotive supply chain. Additionally, financial services are evolving rapidly, with fintech and digital banking gaining traction. More banks are embracing digital transformation, offering mobile and online services to meet the needs of Serbia’s young, tech-savvy population. With strong Internet penetration and favorable investment policies, Serbia’s financial sector is on track for significant growth in the years ahead.
This article was originally published in Issue 12.2 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.
