For the past decade, to boost its long-term economic outlook and service the needs of the growing population, Turkey has used the public-private partnership model extensively in the infrastructure sector.

In contrast to the previous financial crisis, when many construction companies in Slovenia declared bankruptcy, the current pandemic crisis has not affected the infrastructure sector to the same extent as other sectors. In fact, public infrastructure projects in Slovenia are currently on the rise. The focus of the current investment cycle is on the rail and road infrastructure for international and domestic use.

Although Romania’s history with public-private partnerships (PPPs) spans over two decades, the legal framework in force until 2018 did not attract sufficient private partner interest for the development of such projects. As a result, to date, the number of successful PPPs remains rather low.

An Energy Service Company (ESCO) provides energy services and/or other energy efficiency improvement measures to consumers and, as a result of providing such services and/or measures, accepts a degree of financial risk. Payment for the services provided by an ESCO is based, in whole or in part, on the energy efficiency improvement and the fulfillment of other performance criteria agreed upon by the parties. As a rule, the ESCO is paid out of the cost reductions achieved following the energy upgrades and/or efficiency measures. Because payment is made from the energy savings, the costs of financing and implementing such an efficiency project may, based on the financing structure applied, be treated as an off-balance sheet asset.

Following the wave in Europe on the enforcement of foreign direct investment screening, Romania has just shifted to new rules for non-EU investors. The new regime entered into force on April 18, 2022, and is expected to be fully operational by June 18, 2022, when the new FDI Screening Commission is to be set up.

Although the first draft law transposing EU Directive 2019/1937 (Whistleblowing Directive) into national law has been launched in public debate by the Ministry of Justice in April 2021, the Whistleblowing Directive has not yet been implemented in Romania.

The new Mobility Package adopted at the European level represents a significant shift in the transport sector. Its effects have been long anticipated since the Commission’s proposal in 2017, as the new regulations intended to level the playing field for transport operators from different member states. Additionally, they aim to provide equal social protection to all drivers, reduce negative competition, and standardize different administrative procedures. Considering the new procedures, transport operators are faced with a multitude of challenges to adapt their business models to the current requirements.

The last few years have brought incredible leaps in technology, all fields seeing new and impressive heights that could only be imagined twenty years ago. But the rapid developments in technology came with greater risks in terms of cybersecurity. Romania plays an important role in terms of resources and capabilities in the cybersecurity field and makes ensuring a safe cyberspace a top priority for the country.

A key institution enshrined by the Romanian legal provisions governing public procurement, the ascertaining document is issued by contracting authorities upon the finalization of a public contract and indicates whether contractors failed to fulfill their contractual obligations or have fulfilled them in a defective manner.

In Romania, the first legal enactment specifically addressing PPP projects was adopted in early 2002. In the 20 years that followed, four primary pieces of legislation on this topic have been passed, with the declared objective to provide a sound legal basis for the implementation of PPP projects. Nevertheless, each of these successive enactments was adopted not to keep pace with the practical developments in PPP matters, but rather to respond to criticism of the absence of a proper legal basis to structure and implement PPP projects.

Financial technology is in its early stages in North Macedonia. The ability of alternative finance companies to utilize technology and provide products and services to underserved individuals enabled them to successfully penetrate the retail lending market and become the most embedded subsector in the fintech space. Incumbent banks, aware of the growing competition, are developing fintech solutions such as better credit scoring solutions, the digitalization of products and services, and facilitating peer-to-peer payments. Fintech players and incumbent banks alike are also experimenting with big data analytics, cloud computing, and artificial intelligence. There are no initiatives in blockchain and distributed ledger technology.

Although the Romanian law on transfers of undertakings has no more than two pages, it is notorious for its complexity, while the relevant case law is constantly developing. Briefly, if an undertaking is taken over by, or is transferred to, a new entity, the relevant employees are automatically transferred to the new employer, together with their existing rights provided under the individual employment agreements and the applicable collective bargaining agreement.

Change and unpredictability, among the top keywords that could best describe the past couple of years, did little to affect the overall Romanian M&A market. Publicly available figures show that dealmaking saw a strong rebound in 2021 in terms of deal numbers. The main sectors on investors’ radar were real estate and construction, IT&C, energy (with a growing focus on renewables), manufacturing and industrials, pharmaceuticals, and healthcare.

An in-depth look at Kristijan Polenak of the Polenak Law Firm covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

An in-depth look at Ioana Hrisafi-Josan of Tuca Zbarcea & Asociatii covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.

ODI Law Partner Gjorgji Georgievski, EY Law North Macedonia Manager Jana Nikodinovska, CMS Partner Marija Filipovska, Popovski & Partners Partner Ognen Martinov, and Lalicic & Boskoski Partner Vedran Lalicic talk about what practices have been keeping their firms busy and their outlook.

In a 2020 CEE Legal Matters article, Karanovic & Partners Partner Veton Qoku wrote that “in 2016 the Republic of North Macedonia made changes to its Law on the Control of Narcotic Drugs and Psychotropic Substances, defining the terms ‘hemp,’ ‘hemp seed oil,’ and ‘cannabis/hemp oil’ for the first time as well as regulating the procedure for cultivation and production of hemp.” CEELM spoke with Qoku to check in on the development of this young sector in the country.

With the fast-paced development of applications in nearly every sector of the service industry and the advent of virtual services, Romania witnessed a rise in the number of people employed in the gig economy. CEE Legal Matters sat down with DLA Piper Head of Employment Monica Georgiadis and Schoenherr Head of Employment Mara Moga-Paler in Romania to discuss the legislative framework regulating gig workers, the labor risks and challenges they face, and the ways in which these might be addressed.