As 2024 wraps up, Slovenia is thriving with growth in IT, healthcare, real estate, and renewables, according to Kavcic, Bracun & Partners Partner Aleksandra Mitic, who notes that despite external challenges, optimism is high and key projects and investments are setting the stage for an exciting year ahead.
“As the year draws to a close, activity across several sectors has surged,” Mitic explains. “In the IT and healthcare industries, businesses are actively seeking investors, driving a wave of small transactions and rapid growth. Private investments in healthcare are particularly trending, reflecting increased interest in the sector. Despite challenges from neighboring Germany’s automotive sector, which has ties to Slovenia’s economy, the overall outlook remains positive.”
Real estate also remains a strong performer, according to Mitic, “with numerous residential projects underway. Recently, there’s been a notable focus on developing business premises. However, with so many new spaces available, renting them out has become a challenge.” One of the most significant developments this year, she emphasizes, “has been the redevelopment of Ljubljana’s main railway and bus station area. This large-scale project includes business spaces, hotels, and other infrastructure, signaling a pivotal moment for real estate in the area. The city has plenty of room for further development, and current investments seem to be creating momentum for future growth. While some projects faced delays in previous years, construction is now in full swing.”
Mitic highlights that the renewable energy sector has also been gaining traction with ESG considerations becoming a central focus. “The government is actively promoting clean energy projects, including solar, rooftop, and hydropower developments. Political delays have stalled plans for a new nuclear power plant, but smaller-scale renewable initiatives are progressing steadily,” she says. “At the same time, the energy sector is experiencing significant consolidation, creating new opportunities for growth and collaboration.”
Mitic also draws attention to the developments in competition law. “The competition agency has been highly active over the past few months, tackling antitrust cases and encouraging settlements,” she notes. “For instance, a recent case was resolved with a EUR 1 million fine. The agency seems determined to catch up with neighboring countries, addressing older cases and streamlining merger clearances. Using settlements could be a practical way to resolve cases before the agency for the companies.”
Another key area of focus for law firms, according to Mitic, has been compliance with AML regulations. “Law firms are under scrutiny to ensure adherence to KYC requirements, with the bar association overseeing these efforts,” she says. “As changes to AML regulations are discussed at the EU level next year, firms must stay vigilant in understanding their clients and their business activities.”
Lastly, Mitic adds that Slovenia’s legal market has seen new entrants. “The country is becoming an attractive entry point for Eastern and Central European companies, many of which prefer a single legal partner to handle multiple jurisdictions,” she explains. “This trend has led to increased collaboration between Slovenian firms and counterparts in Austria and the Czech Republic. While the market traditionally had only a few international firms, new partnerships are reshaping the landscape, creating a sense of energy and opportunity as the year ends.”
