“The Romanian Recovery and Resilience Plan (PNRR) forms part of an unprecedented coordinated EU response to the COVID-19 crisis, to address common European challenges by embracing the green and digital transitions, to strengthen economic and social resilience and the cohesion of the single market,” according to the European Commission.

Central European countries represented and continue to represent quite an attractive market for international investors, mainly due to the stable economic environment, relatively lower labor costs compared to the rest of the European regions, favorable tax environment, and the availability of tax incentives.

Publication in the Official Gazette of Government Emergency Ordinance no. 46/2022 on measures to implement Regulation (EU) 452/2019 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the examination of foreign direct investment in the Union and for amending and supplementing Competition Law no. 21/1996

Dentons has advised the Xella Group on the sale of its precast concrete division to CHR group company Romcim. BDO Romania reportedly advised the buyer.

Stratulat Albulescu has advised Resource Partners and World Class Romania's management on the sale of World Class to the African Industries Group. Radu Taracila Padurari Retevoescu advised AIG.

The hot practice for Popescu & Asociatii over the past year has been Dispute Resolution, with the pandemic crisis as a primary driver of work, according to Partner Octavian Popescu, who reports about a vibrant 2021 and looks ahead to a similar 2022.

Former GM Legal Partner Cristina Gavrila has joined Glodeanu & Partners as a Partner.

Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for screening foreign direct investments into the Union (the “Regulation”) has been implemented into Romanian legislation in the form of Government Emergency Ordinance no. 46/2022 on foreign direct investments (“GEO no. 46/2022”). 

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

Law No. 69/2022 amending and supplementing Law No. 8/1996 on copyright and related rights (“Law No. 69/2022”) was published in the Official Journal of Romania, Part I No. 321 of 1 April 2022 and, with the exception of a few provisions which will become applicable 30 days or 6 months after publication, entered into force on 4 April 2022.

After a rather lengthy legislative process, Directive (EU) 2019/633 (the "UTP Directive") was implemented in Romania on 12 April 2022 by Law No. 81/2022 on unfair trade practices (UTPs) between companies within the agricultural and food supply chain (the "UTP Law"). It sets out a new set of rules applicable to food retailers and suppliers that have an annual turnover of around EUR 2m.

With inflation making its way through Europe, Romania was hit as well but the economy is still developing steadily, with energy, real estate, and infrastructure the sectors to look out for, according to MPR Partners Partner Dana Radulescu.

On 31 March 2022, the Romanian Ministry of Energy launched a call for projects under a new state aid scheme for supporting the development of new wind and solar power plants, with or without integrated power storage capacities (the "Support Scheme").

As war days go by, military conflict in Ukraine seems to escalade, jeopardizing the upcoming fate of the country on so many levels. Under such circumstances, it is impossible to envisage when the (post-war) normality will be reinstated, and when economics will follow their course once again. As a consequence, multiple companies have already announced their intention to cease activity not only from Russia, but also from Ukraine.

Directive (EU) 2019/633 of the European Parliament and of the Council of 17 April 2019 concerning unfair business-to-consumer trading practices in the agricultural and food supply chain has recently been transposed into Romanian legislation by Law no. 81/2022, in force since 15 April 2022 ("Law no. 81 /2022").

Following CMS's recent global promotion round, Nevena Radlova, Michal Andruszkiewicz, Cristina Popescu, and Olga Shenk were promoted to Partner, with Partners Gabriela Staber and Andrea Potz becoming Equity Partners.

Mares & Mares' hot practice over the last 12 months has been their white-collar crime one, according to Managing Partner Mihai Mares. Trigger-happy authorities have been the main driver of work, with Mares expecting the levels of activity to continue to increase in light of the upcoming Whistleblowing Directive.

Former Counsels Georgeta Gavriloiu and George Trantea have been promoted to Partner at Filip & Company.