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High levels of market activity despite regional tensions and rising uncertainty relating to the war in Ukraine, an ever-more inclusive financial regulatory framework, and a blossoming energy sector are the hot topics in Latvia, according to TGS Baltic Partner Inese Hazenfusa.

The energy crisis has a pivotal role in Latvia’s political agenda, with the government focusing on investments in onshore and offshore energy projects and legislative packages to mitigate the crisis-related outcomes, according to Ellex Managing Partner Liga Merwin.

Energy is the major topic in Romania, with updated regulations on energy trading and offshore gas production already being in place, and the business sector hoping for a legal framework on hydrogen projects, according to Ijdelea & Associates Managing Partner Oana Ijdelea.

A slowdown in capital market transactions and some M&A activities, a governmental crisis and tensions with the Russian-speaking population, and rising energy prices and inflation were all hallmarks of Estonia’s past six months. While the geopolitical situation and economic situation remain tough, direct investments in Estonia seem to be getting back on track, across a number of sectors, according to Cobalt Partner Marina Kotkas.

A lull in the markets and legislative activity, due to political and global concerns, is offset by high foreign finance confidence and high foreign investor interest in Bosnia and Herzegovina, with client-driven ESG projects a particularly bright spot, according to Attorney-at-Law Andrea Zubovic-Devedzic, a Partner of CMS Reich-Rohrwig Hainz.

The new government, looking to implement sweeping tax reform, introduce more socially oriented policies, and reorganize the country’s energy framework, is keeping Slovenian lawyers talking, along with the steady stream of M&A and financing mandates, according to Partner Igor Angelovski of Ketler & Partners, a member of Karanovic.

The long-awaited Commercial Court finally being functional and the anticipated reforms on minimum wages and the verification and confiscation of unjustified assets are the key talking points in Kosovo, according to Deloitte Kosova Legal Manager Ardian Rexha.

Several legislative updates will support the legal profession in Bulgaria, according to Gugushev & Partners Partner Dafinka Stoycheva, with the push toward green energy, (another) pending government change, and a landmark CJEU decision also at the top of the agenda for lawyers in the country.

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