Following the recent dip, what is your prediction for levels of foreign investment into Bosnia & Herzegovina in the next year?

Considering its history and the political complexities of Bosnia and Herzegovina, we are continuously in a state of crisis, whether it is political uncertainties, Covid -19 or regional effects. Despite that, foreign investors keep coming to Bosnia, the economy keeps moving forward and keeps developing, so I am a strong believer that we can sustain any kind of problems. In terms of market trend we are seeing a significant increase in lending and securing financial resources, new credit lines are being opened to try to mitigate some of the consequences that COVID has had on the economy. Also, we are more and more witnessing local family businesses being acquired by international investors as they are recognizing the opportunities and the values that we have here.

All in all, I am very optimistic about the future of foreign investment for Bosnia and Herzegovina as there is so much opportunity for foreign investors, and it feels like they are really starting to realize it.

Do you anticipate any changes in the division of legal work between local and international firms in the next 12 months?

There is no international firms which are directly present in Bosnia and Herzegovina, only regional firms. But even the presence of the regional firms is not very significant. They work mostly with one or two domestic lawyers on deals they land abroad. As such, these local lawyers end up doing all sorts of legal work but cannot really specialize or excel in any single field. Although they may get the work referred to them, the investors quickly realize the complexities of the market and the insufficient specialization of these firms.

As such, we are seeing very positive trends in shifting the work to us – in the recent year we have been assigned with several cases which were initially handled by local cooperants of the regional firms, but the clients have

decided to move to us. We are proud to say that 2021 was one of the best years we have had since the opening of the firm.

Has the current situation in Eastern Europe significantly affected the legal market in Bosnia & Herzegovina, given the close links many firms have with the CEE region via their Serbian offices?

We do not see any major disruptions in the legal market which would be the result of the current global trends. The market is very much alive, deals are happening and new clients are coming in.

What are the biggest challenges facing the Bosnia legal market in the next 12 months?

Bosnia and Herzegovina is facing one of the most serious crisis since the end of the war – considering that we have general elections scheduled for October, political rhetoric will surely get even more heated and the crisis will deepen. However, we do not expect any major turmoil in the legal market to result from this.

Have ESG considerations prompted you to re-evaluate the service you provide?

ESG is just starting to make its debut in Bosnia and Herzegovina, and we are just starting to see deals where ESG is a factor. As ESG gains traction in Bosnia down the road we will probably look into introducing a separate department specialized just for ESG matters.

In terms of our own business, although there is not regulatory requirements that we would need to observe, we strive to be very sustainable and green and looking at ways of minimizing our own footprint.

What sets your firm apart from competitors?

We try very hard to build long-term relations with our clients and aim to be accessible to them when they need assistance. We also try to look at the business side of things when tailoring our advice, and not just focus on the purely legal aspects. With over 15 lawyers in the office, we can definitely say that we are the largest office in the country. Size of the office allows us to have highly specialized attorneys for each field, which is a necessity in the Bosnia and Herzegovina market.

Are there specific practice areas you see as particularly thriving, which you intend to bolster in coming years? Are there any new areas of practice that have emerged recently?

Currently we are seeing a lot of work in the banking and finance sectors, intellectual property, data protection, as well as a rather significant amount of M&A deals. A lot of local firms have developed enough and are obtaining foreign financing and/or foreign partners so that keeps us quite busy.

We are also monitoring closely the digital currencies trends and all the challenges that come with them (especially in an underdeveloped market such as ours) and we expect that probably this will be of significance down the road.

8. What are your firm’s policies on diversity and inclusion? Does your firm have any specific diversity initiatives?

Although we do not have specific policy on diversity and inclusion, we always try to recruit and retain top talent. This inevitably caused highly diverse staff – 70% of the staff in the firm are women, and 5 out of 6 partners are women, while all staff has a very diverse background and ethnicity.

What are the biggest challenges facing the Greek legal market in the next 12 months?

If we have learnt anything over the last 2 years, it is that we must remain flexible and adaptable, which is perhaps the first challenge for any firm. After that, there are a number of other challenges we face.

Firstly, there is rising inflation which puts great pressure on our clients and on us in turn. In order to remain competitive, we have to do more with less.

Another challenge is that of being alert to the changes and demands of rapid developing of sectors (for example, energy, IT).

Further to this is the challenge of talent scouting and retention. We want to continue hiring the best.

A further challenge is ensuring cyber security and data protection for ourselves and our clients as we deal with sensitive material.

One more challenge is the huge array of tech solutions to choose from and this also gives us pause for thought. We have to offer our clients and colleagues the very best tech solutions, and there has been an explosion in the number of tools available. Discerning between them to choose the perfect tool is a further challenge.

Where do you feel your clients need the most legal support in the next 12 months?

We anticipate that legal spending in regulatory work, litigation, and labour & employment will all increase as clients search for strategic legal partners who can help identify and manage the fluctuating regulatory environments left in the wake of the Pandemic.

We also expect clients to allocate more of their budget to cross-border work and forecast that access to key markets across the region will increase over the next 12 months. To this end, localized legal knowledge that is applicable across multiple jurisdictions will be one of the main factors that clients look for in selecting their outside counsel.

In addition to the new conditions, with the new investments in the emerging sectors of the economy, we will have to meet the increased needs of the clients in the sector of M&A (Mergers & Acquisitions).

What sets your firm apart from competitors?

We are business lawyers, offering practical solutions based on our authentic expertise, collaborating closely with clients, and sharing the motto ‘Working together, Winning together’.

In addition, our partners are able to work closely with our clients, making themselves available at all times. This is because of our unique organisational structure, a reverse pyramid.

Finally, we have an exceptionally high level of staff retention due to our family atmosphere. This builds trust and stability, leading to excellent client relations.

How active are members of your team in terms of thought leadership?

We firmly believe that true leadership involves encouraging leadership in others, so we invest in our associates to make them the next leaders. This is achieved through our organisational structure, which allows our partners to remain highly engaged, mentoring associates and guiding them to success.

What does innovation mean to you? Can you tell us about any specific innovation initiatives at your firm?

The legal industry tends to hold on to tradition. However, it is time to realize that innovation is key to surviving in our changing world. It begins with shifting the focus onto the clients’ needs and providing an end-to-end client-oriented experience. We focus on what our clients want and our associates need in order to provide legal services efficiently and profitably.

We have found that these days the highest demand is closely connected with technology: paperless, with electronic signatures, using document and process automation.

We monitor and use cutting-edge technologies through our outsourced IT Department, and we train everyone in the office to become proficient at using technology.

We have access to huge amounts of data, and with the use of new technologies, we manage to turn that data into data insights. These help us make better business decisions, win cases for clients, attracting new client business by quantifying relevant experience and pricing legal projects.

In addition, we supplement this with both an innovative collaborative lending system for all resources and a collaboration with a digital archive system in Greece in the cloud.

What technological changes have you implemented at your firm to improve the legal services you provide to your clients?

Due to the pandemic, technology changed the legal landscape in many ways, and we expect it to continue to do so long after this global pandemic is over. Lawyers have already changed not only where they work, but also how. Clearly, remote work is set to become even more common, with staff using multiple devices for work. In this context, improving team members digital skills for working remotely and prioritizing digital communications with clients will continue to be important.

To keep ahead of the game, we must also keep abreast of new applications and services.

We use a legal practice management software that allows to lawyers to work remotely at any time and in any place and respond to clients more quickly, while allowing other team members to access to necessary information. We also keep automatic backup files of client information in a secure environment.

We have also adapted our conference room to be more suitable for online meetings with our clients, with document sharing facilities, high quality video and a top-of-the-range sound system.

Furthermore, our library is digitally monitored so that we always know where a book is. In addition, we supplement this with both an innovative collaborative lending system for all resources and a collaboration with a digital archive system.

Finally, we have enhanced our approach to cyber security (by outsourcing it to a company of digital transformation specialists) and bolstered our data protection (by engaging the services of an expert DPO).

How does the firm support its junior staff in terms of career progression and growth?

Firstly, we acknowledge that junior staff are an asset and we invest in them. We have worked to establish a climate of trust in our premises, where juniors are encouraged to ask questions without fear of reprisals. We mentor them, guiding them to succeed, in the hopes that they will be the leaders of tomorrow. It helps that we offer them a clear promotional path.

More practically speaking, they are encouraged to engage in post graduate studies in their fields of interest. We make our premises open to them if they want a quiet place to study, provide books for them, allow them access to all legal platforms, as well as supply them with anything else they may need to conduct research.

We also subsidise any other seminars they may want to attend, encouraging them to broaden their knowledge.

Finally, we share with them our vision in growing and improving together as a team.

You have been involved in advising clients on Greece’s 5G infrastructure; how do you foresee this to develop and what role will you play?

Greece has been one of the leading EU countries in bandwidth concession for fifth-generation (5G) telecommunication network licenses. This has been combined with the strong development of the Greek deep tech/start-up ecosystem, as well as notable initiatives by the Greek State. A case in point is the launch of Phaistos Investment Fund (to which the Greek government has committed proceeds received from the auction for the use of the 5G Spectrum) whose target is investments in enterprises that have activities in research or development of products and services that operate in technologies supported by 5G infrastructure in Greece, as well as the participation of the Hellenic Development Bank of Investments (the Greek sovereign fund of funds) as an institutional investor in a series of venture capital funds that invest in the sector. We are proud to be advisors of both Phaistos Investment Fund and its Manager, 5G Ventures S.A. in terms of its establishment and investments, in addition to steadily advising the Hellenic Development Bank of Investments in relation to its investments and we are committed, as legal advisors of either investors or investees, to contributing to the development and growth of this sector.

The Cypriot government announced the suspension of its controversial ‘Golden Visa’ scheme in November 2020. What impact has this had on the nation’s real estate market?

Indeed, there has been a decrease in demand0 for luxury real estate sales since the abolition of the Citizenship by Investment program, surprisingly though, the overall impact on the real estate market has not been as dramatic as originally suspected.

Albeit the abolition of the Citizenship Program, Cyprus still offers a Permanent Residency program, which requires, among other criteria, the purchase of a house for a minimum of €300,000. Furthermore, the government has been promoting quite extensively the international headquartering of high-tech companies, which concerns investors who wish to move their headquarters to Cyprus. A third factor which assisted the market until now, has been the financial support provided to the local market; for the whole of 2021, the government with the cooperation of local banks, was offering subsidized housing loans. All of the above factors, coupled also by an interest shown in the last couple of months due to the political unrest in Ukraine and the region around, have actually caused the prices to increase and not decrease.

Where do you feel your clients need the most legal support in the next 12 months?

We consider that over the next 12 months we will see an increase on enquiries by clients requesting services of relocation of headquarters that are primarily situated in or near the areas where there is political unrest, due to the war in Ukraine and also from other areas due to the tax incentives provided by Cyprus. This will most definitely entail assistance for restructuring of how such clients will operate such as setting up of new entities, proceeding with mergers, acquisitions, relocation of company seats, real estate acquisitions, employment law services etc. Furthermore, it is evident that our clients will continue to require support on the definition and application of the different sanctions the EU, UK and USA are imposing on Russia and certain banks and individuals.

What sets your firm apart from competitors?

We take the challenge of the high competition in the legal industry in Cyprus and we strive to improve our firm’s practice further, however we try to maintain our firm’s character, vision, mission and ethical approach through the healthy competition within the industry.

Our main strong point is that we are efficient and effective! We are a small boutique law firm consisting of young professionals that strive to provide personalised services to our clients in

the most efficient way. Our main mission is to maintain our character and ethical values as a law firm, while progressing and prevailing to reach our goal and be considered one of the best boutique law firms in Cyprus.

Are there specific practice areas you see as particularly thriving, which you intend to bolster in coming years? Are there any new areas of practice that have emerged recently?

Over the last few years we have been receiving increased exposure in the real estate law market, due to the affiliation our law firm has with the fully licensed real estate agency, CA Real Estate Limited (CA Real Estate). The cooperation with CA Real Estate, gives the opportunity to the interested purchaser / seller to receive a full service from A to Z, in respect of a purchase / sale of any specific property.

Furthermore, we have also been gaining quite extensive expertise on a variety of banking and finance issues, including corporate finance. We have acted for a number of leading lenders and we are able to advise companies of all types on their dealings with lenders. We also advise a variety of corporations (international corporations, family businesses, charities, trusts and developers) on all aspects of their relationships with lending entities.

How active are members of your team in terms of thought leadership?

We always promote staff from all levels to speak out when they have any ideas which can help the firm in any way, which we take very seriously. We often organize team building activities where each member of staff can provide their feedback on the way the firm operates. We also provide opportunities for continuous education and we especially focus on events and communication channels which promote the freedom of expression and appropriate ways to exchange feedback between management and employees.

What are your firm’s policies on diversity and inclusion? Does your firm have any specific diversity initiatives?

Diversity and inclusion mean giving the opportunity to all individuals to work, learn, practice, train, evolve, try, fail and rise again despite their different background, level of experience, nationality, beliefs and culture. Diversity and inclusion can be difficult in our jurisdiction, due to the high competition and great number of family businesses which often act as a hurdle for professionals. Thankfully, the new generations of professionals have been raised with great endurance and persistence and spirit which enables them to prevail and not give-up in the looking of their desired position. Although our firm does not have any specific diversity initiatives, we take pride in the fact that a fair percentage of our employees are of a distinctive diverse background.

What does innovation mean to you? Can you tell us about any specific innovation initiatives at your firm?

Innovation is crucial for the successful continuing of an organization. It is about implementing new technologies, products and policies. It is about communication with the clients, listening to their needs and make sure to assist and satisfy those needs in a most efficient way. Another aspect of an innovative approach is collaboration and partnership with other industry related service providers and the ability to offer complete service packages to clients. All the abovementioned are an indication on how firms can do in order to enhance their practices.

What technological changes have you implemented at your firm to improve the legal services you provide to your clients?

We consider that technological advancement and relevant training of staff are two crucial aspects in the future development of the firm. Although we are always aware of new digital products which may be useful in our productivity and effectiveness, during the last two years, and party driven by the adverse conditions of Covid19 outbreak, we had the opportunity to utilize to the maximum the digital resources available in the market that are specific for our sector. We further believe that providing continuous support and training of staff on new developments gives an even greater potential to the available technological means.

What impact do you expect the upcoming elections in Angola to have on the market?

In general terms, we do not expect a major market impact related to the upcoming elections.

The Angolan economy continues to open up to the world, presenting great advantages for foreign investors, especially in what concerns non-oil related sectors, since the authorities have a great interest in the diversification of the economy and in ending the strong dependence of the state budget on oil. Regardless of what happens before and after the elections, these guidelines will not be changed in any way.

The Angolan economy grew 0.7 percent in 2021 and the IMF forecasts that this year, in which presidential elections are held, GDP will rise 2.9 percent, which is an extraordinary prospect for the country after five years of recession.

Your firm is part of the DLA Piper network. What benefits does this association bring to your practice?

DLA Piper is a global law firm present in over 40 countries in the Americas, Europe, the Middle East, Africa and Asia, enabling us to respond to the legal needs of clients around the world.

On the other hand, DLA Piper has an excellent training programme and is committed to the knowledge and technical quality of its lawyers, which allows us, in addition to our own in-house ADCA training, to have access to a very wide range of knowledge that we always keep up to date.

What can law firms in Angola do to attract and retain international clients?

It is necessary to know how to provide an international standard service with a deep knowledge of the law and the national context. It is necessary to explain the local specificities to international clients and show the appropriate business environment. All this is only possible with great legal and technical knowledge, in order to provide the best legal comfort to the clients.

What do international companies operating in, or looking to invest in, Angola require from their legal counsel?

International companies operating or about to operate in Angola require a law firm that offers a full service to assist them in setting up in the country, not only by incorporating companies, hiring employees, obtaining visas, recruiting directors and obtaining licenses, but also to support the execution of investment projects and permanent legal advice to the subsidiaries.

What are the biggest challenges facing the Angola legal market in the next 12 months?

Oil & Gas continues to be an attraction in terms of investment. What attracts investors to the Angolan market are not only the proven reserves of over 8.2 billion barrels of oil, but also the decades of industry experience and ongoing exploration campaigns that generate increasing global attention.

However, despite being a major oil producer, Angola still has a small refining capacity and imports about 80% of the refined products. The government and Sonangol are now refocusing attention on the downstream sector, with plans to expand the Luanda Refinery and build three new refineries, in Lobito, Cabinda and Soyo. Angola aims to have a refining capacity of 400,000 barrels per day, enough to supply the domestic market as well as export to regional markets.

On the other hand, the Angolan government is turning to natural gas to diversify the energy matrix and facilitate a transition to cleaner fuel sources, increasing spending in this area, with a greater focus on solar energy projects.

The country has 11 billion cubic feet of proven natural gas reserves and, with the right policies and proper investments, can benefit significantly from the energy transition.

In an attempt to monetize resources and drive socio-economic growth, the government has directed the focus to “gas to power” (turning gas into electricity) and associated “downstream” infrastructure.

There is also a strong focus on the agriculture and food industry, not only to create jobs, but also to increase domestic production capacity and the supply of domestic products.

In my understanding there is great potential for growth in the fishing, water and agriculture sectors.

With a privileged geographical location and a coastline of about 1,650 km, the Angolan coastline is rich in fish, mollusks and crustaceans. It is possible to find a great diversity of species characteristic of cold waters and also of warm tropical waters, respectively in the province of Namibe and the coast of Benguela. The main commercial marine fish stocks available in Angola indicate an exploitable potential of 360,000 tons.

Given the potential of the sector and taking into account that the domestic demand for fish has grown in recent years, partly due to population growth of around 4% per year, it is seen as a priority of the Angolan state and may contribute to the desired diversification of the national economy. Besides the traditional fish, there are several opportunities in the salt industry and in the construction of infrastructure to support the sector in general.

Water is an especially sensitive issue, as many Angolans do not have access to clean drinking water, due to the fact that access infrastructure has been destroyed in recent decades. For this reason, the water sector is a priority investment sector for Angola. The state is committed to investing in the development and improvement of access and supply of the resource. In this sense, the current state of the sector opens a series of opportunities for the investor who wishes to become involved in Angolan water development projects.

Agricultural production has been one of Angola’s biggest bets in recent years. In 2020 the agricultural sector has already shown a positive growth of about 5%. Even with the constraints caused by the Covid-19 pandemic, the Angolan government continues to develop initiatives to increase investments in agriculture. Privatizations, rural extension programs and concessionary financing for rural and agribusiness operators have been developed, with subsidized interest rates for loans granted to the private sector. The Angolan government has announced that it intends to decrease, by about half, the country’s imports by 2022. The decrease in imports should be compensated by an increase in national production. Tax and exchange incentives are planned for the diversification of exports and support for the promotion of industries considered a priority for Angola, including agriculture.

These measures are included in the Production Support and Export Diversification and Import Substitution Program, which aims to improve the functioning of exporter support services, the country’s competitiveness and to promote the substitution of imports by national production not only in agriculture, but also in areas such as livestock, fisheries, industry, health, training and education.

Do you consider sustainability credentials important to your firm’s business?

I would describe our firm as a “responsible business”.

As a responsible firm, ADCA incorporates not only the interests of its internal lawyers, but also those of external stakeholders, most notably the Angolan people.

Our commitment to sustainability leads us to seek to contribute actively to sustainability objectives, as well as to carbon neutrality objectives.

Have ESG considerations prompted you to re-evaluate the service you provide?

Environmental, Social and Corporate Governance criteria are at the core of DLA PIPER’s strategy. We are committed to focusing on the welfare of our people, monitoring the social impact generated by our activity and supporting our clients.

We have as one of our main objectives to seek the best solutions to mitigate the impact of our activity and on the balance of the lives of the people who make our law firm. We want to proactively contribute to the resolution of social and environmental problems.

Where do you feel your clients need the most legal support in the next 12 months?

In the last three years, the trend in imports has been downward and results not only from increased domestic production capacity resulting from investments in the productive sector, but also from a combination of economic factors such as measures in the foreign exchange market and policies to support domestic industry.

In general terms, the economic impacts of the implemented projects are positive, there are even clear signs of a focus on national production with a growing trend of investments in the manufacturing industry with emphasis on agriculture, food processing, trade, and even in the services sector.

The diversification of the economy requires a bet on this type of investment, therefore, for the near future, the government’s efforts are focused on attracting and attract investments for agriculture (production of cereals, oilseeds, legumes), investments directed at certain links in identified productive chains such as the textile industry (production of raw materials), industry, fisheries, and mining.

On the other hand, under the terms of the Privatization Program, there will be a strong increase in the number of Angolan State assets that will be privatized. This includes very relevant assets in the sectors of banking, insurance, hotel and tourism, industry, telecommunications, oil, etc.

The Angolan government intends to partially privatize (up to 30% of the share capital) Sonangol – the state-owned oil company – considered the crown jewel. Will be privatized through stock market. According to estimates presented by the government, the stock market dispersion of 30% of the Angolan state-owned oil company’s capital can earn the State between 5 and 7 billion euros.

In this scenario, we expect, in terms of legal services, that there will be greater demand in the practice areas related to public procurement, corporate, mergers and acquisitions, restructuring, finance and projects, energy and infrastructure.

What does innovation mean to you? Can you tell us about any specific innovation initiatives at your firm?

The model of the traditional lawyer is disappearing, and the current pandemic crisis has further highlighted the need to reflect on the future of the profession and, consequently, to seek a model of education that can train lawyers to face a new environment. Just with the confinement, teleworking, for example, has revolutionized the modus operandi of the lawyer, whose presence was a sine qua non requisite. Now, we can prove that it has not and, although face-to-face work is gradually making a comeback, it is clear that teleworking policies are here to stay and make our rigid labour structures much more flexible.

What technological changes have you implemented at your firm to improve the legal services you provide to your clients?

For me innovation should be understood not only as the introduction of new ideas, but also as the management of technology and digital tools.

One of the main innovations in the legal practice, apart from artificial intelligence, is the constant updating of legal software. Through legal software, our lawyers have the entire office in the palm of their hand, either through their PC or smartphone. The aim is to optimise day-to-day activities, such as storing procedural and client information, monitoring actions, etc.

What unique features of practising under the dual legal system of French civil law and English common law pose for Cameroonian lawyers and clients?

The principal challenge which the dual legal system in Cameroon poses today is the incomplete internal harmonisation process of the laws (English laws and procedures and French laws and procedures). In its decision to embrace the OHADA Laws, Cameroon completely ignored the fact that the country had a bi-jural system of law and so the application of the OHADA laws in the English-speaking regions of Cameroon is not without hitches. A Cameroonian lawyer in advising a client must be cautious in drawing the client’s attention in the event where there are likely to be such hitches.

Corporate mandates for many countries in West and Central Africa have increased due to OHADA. Following attempts at unifying corporate law in the region, what new types of cross-border work or attempts at unifying legislation do you expect to see in Cameroon in the future?

There is the likelihood of having cross-border work which may lead to the need to unifying legislation in certain sectors of the economy. We readily see the need for cross-border corporations in the mining and energy sectors. For example, the Government of Cameroon is already in discussion with the Government of the Republic of Congo for the joint exploitation of the iron ore belt that stretches from Cameroon to Congo; if theses discussions go further, there might be the need to unify the mining legislation for both countries in order to give potential investors certainty in the interpretation of the relevant legislation.

We also see the possibility of cross-border work in the energy sector in the sense of transporting power produced in Cameroon into neighbouring countries.

What are the biggest challenges facing the Cameroon legal market in the next 12 months?

The biggest challenges in the next 12 months include:

– The lack of clarity as to the depth to which Covid-19 plunged the Cameroonian economy

– The lack of clarity as to the measures taken by government to revamp the economy to its pre-Covid 19 situation and the measures being put in place to lake the economy more resilient in case of future pandemic.

Covid 19 is not officially over, and so economic projections at all levels are bound to take it into consideration. In the face of such a situation, where foreign investments is slow into the country, the Cameroon legal market is bound to stagnate in the next month if it does not retrograde.

Do you consider sustainability credentials important to your firm’s business?

Of course, these credentials are important to our business, because there are factors which we use in assessing the firm is making progress.

Have ESG considerations prompted you to re-evaluate the service you provide?

ESG considerations today have become part of the issues to be integrated when advising clients. This is so because they tend to be part and parcels of the legal and regulatory requirements imposed for doing certain businesses in Cameroon.

Where do you feel your clients need the most legal support in the next 12 months?

The negative effects of Covid-19 to the economy of Cameroon can still be felt and still continue. As a result, our clients in the next 12 months will require legal support with issues relating to debt rescheduling, internal human resources reallocation, technical unemployment considerations and may be redundancies.

What sets your firm apart from competitors?

Firstly, the fact that we are permanently conscious of the presence of competitors.

Secondly, the fact that clients at all times have a second choice (fall-back position).

Thirdly, the fact that clients today are extremely fee sensitive.

Fourthly, the fact that clients prefer firms that are pro-active and prompt in providing requested legal advices.

Fifthly, the bilingual composition of our firm (lawyers able to speak and write English and French and to provide legal advice on both French and English.

Are there specific practice areas you see as particularly thriving, which you intend to bolster in coming years? Are there any new areas of practice that have emerged recently?

Specific thriving area include mining, competition law, telecom.

New areas of practices emerging include financial technology, Artificial Intelligence.

Following a months-long parliamentary deadlock, what changes are you anticipating to see following the election of Kiril Petkov?

Bulgarian people expect to see zero tolerance towards corruption, judicial reforms, innovations, attraction of foreign investors and successful Bulgarians who live abroad to come back, and, in general, modern ruling of the country.

As one of the leading domestic law firms in Bulgaria, what are the differentiating factors between the well-established local players and international law firms? How are you developing and maintaining your relationships with the international firms?

We are happy to have local and international competition. The leading domestic firms are well established, with experienced lawyers, strong local knowledge, and good network of contacts. Since we have international elements in almost all of our cases, we work with international firms as good partners on a daily basis.

Will law firms in Bulgaria continue to embrace the changes to working patterns, initially impacted by Covid-19, such as remote working? In what instances will firms go back to the ‘normal’ methods of working, such as face-to-face meetings?

We see in Bulgaria most of the changes one may face in the “global village”-like hybrid regime of work, Big Resignation, and other specifics of the “new normal”. We have already started face-to-face meetings and a process of returning to the office, however with more flexibility and sensitivity. The personality of the lawyers as human beings and their needs are more in the focus of the law firms. At the same time, the new cost effective and efficient ways of tech communication will continue to be part of our professional and personal life.

Which areas of the Bulgarian market are most influenced by foreign investment?

Basically, these are the industries requiring substantial financing and specific knowledge, such as banking, mining, energy, retail, consumer products, and others. There, we see valuable know-how, modern ways of organisation. Sometimes there is good local competition in these sectors and a process of mutual learning.

What are the biggest challenges facing the Bulgaria legal market in the next 12 months?

Big Resignation and war for good people, more legal tech and rethinking of law firms’ business model. The severe energy and economic crises, including high inflation, and the consequences from the war in Ukraine will heavily impact not only the economy and social life, but also the legal market.

Do you consider sustainability credentials important to your firm’s business?

Yes, but not because it is a modern topic. Sustainability has always been very important to us.

Have ESG considerations prompted you to re-evaluate the service you provide?

We always keep them in mind for ourselves and for our clients. Wherever there is an opportunity, we try to improve our services and our contribution to the society.

Where do you feel your clients need the most legal support in the next 12 months?

Employment, migration, energy, ITC.

What sets your firm apart from competitors?

Our attitude of no compromise with the moral, focus on our people who are carefully selected and developed, innovative thinking, quality based on international standards and hard work. And, of course, our broad spectrum of local and international contacts and knowledge.

Are there specific practice areas you see as particularly thriving, which you intend to bolster in coming years? Are there any new areas of practice that have emerged recently?

Everything related to technology and energy. We are developing close cooperation in Central and Eastern Europe in these and other practice areas, such as transport, retail and consumer goods, pharma.

How active are members of your team in terms of thought leadership?

We work to intensify this process because we want our people to be even more active.

What are your firm’s policies on diversity and inclusion? Does your firm have any specific diversity initiatives?

We have never made any difference among our people in terms of gender, age, sexual orientation, belief, etc. For us, all the people are equal human beings and professionals. We value the differences, we understand their importance and we use them to the extent they exist.

What does innovation mean to you? Can you tell us about any specific innovation initiatives at your firm?

This is the way of thinking and working. We try on a daily basis to have new, out-of-the-box initiatives and to implement them – directly in our work, as well as through various events and organisations, with or without other partners. Our initiatives are numerous, some of them are held for already more than 20 years, like the Balkan Legal

Forum that we organise on behalf of the IBA as the premier legal event in the region, our Academy for Partners, where for the last 4 years we have been providing free educational series to our clients and colleagues on a bi-weekly basis, introduction of new Legal Tech, collaboration with consultants from other sectors, etc.

What technological changes have you implemented at your firm to improve the legal services you provide to your clients?

The Legal Tech should serve our people and clients. We need it for better efficiency, higher speed, improved quality and, of course, to secure cyber security comfort. We have a sophisticated ERP system in place for the past 9 years, we are completely cloud-based and we constantly introduce new products (at documents management level, CRM, etc.) that could improve our services and our clients’ satisfaction.