Noerr Romania, one of the leading law firms on the legal market here will soon celebrate 20 years of activity. How you would assess this lapse of time from the point of view of challenges, accomplishments and gained experience?
We started in 1998 in Bucharest and had several hurdles to overcome. We gained a lot of experience in Corporate, M&A, real estate, tax and finance matters, and succeeded in building a strong team of lawyers. Strengthening our regional approach in Central and Eastern Europe ensures now seamless services throughout the region. All in all, our balance sheet for the past 20 years is gratifying.
How was the year 2016 for Noerr Romania and what are the main goals for this year?
We could secure a decent growth and are satisfied with it. Of course, there is still room for further gains, but I’m expecting to see these develop by the end of 2017. Not only because the year started quite well for us in Bucharest, but also due to our expansion in the Warsaw office. The arrival of an outstanding team of Polish lawyers will further enhance our capabilities in the region and open new legal opportunities also for Romania.
How much have the commercial law and legal assistance service changed in the past 10 years since Romania has become member of the European Union?
A lot. There were several EU Directives and Regulations that were implemented. Harmonizing national laws with the acquis communautaire in Romania – legal framework applicable to investments, insolvency or energy compliance, to name a few – created a more business friendly climate in the country. On the other hand, there are still several shortcomings that need improvement, e.g. public procurement or corporate governance.
How do you see the nowadays economic and fiscal environment of Romania after 10 years of EU membership? What growth potential has had the legal service because of this membership and what were the particular challenges in this process?
To answer your first question in two words: constantly changing. Each new Government declared fiscal stability a priority for further investments, but the reality is different. Romania had a lot to lose in the past years due to perpetual changes in the fiscal policy. Still, the economic climate has a lot of potential and recovered well after the crisis. Thus, legal services – especially quality advice – is facing increasing demand. All market participants, i.e. international and local entrepreneurs, understand the importance of high end advisory services.