Historically, Central and Eastern Europe (CEE) has been viewed as a closely integrated, even homogenous, region. But, while links and deal flow there are strong, a battle to attract investors has been brewing that has revealed strong regional rivalries. It is this competition that is setting the local agenda for law firms.
“It is too easy to lump the whole region into one market, which discounts the nuances of the various countries,” says Salans’ Christopher Berlew. “There are significant differences between the northern tier of countries and the likes of Romania and Bulgaria, which are not as far along in their [economic] transition.”
