Romania, one of the larger markets in Central and Eastern Europe (CEE) and the fastest growing EU economy last year, has a reputation for taking the fight against corruption seriously. However, some of the recently proposed judicial reforms by the Romanian government attracted criticism for potentially weakening its institutions. At the same Romania’s growth story and anti-corruption success also offers lesson for its largest non-EU neighbour, Ukraine.
In this podcast, András Szirkó, Senior Associate in our Business Intelligence & Investigations practice, speaks with regional expert Radu Magdin, CEO of Bucharest-based Smartlink Communications, about the challenges of doing business in Romania and Ukraine and assesses key risks and signal opportunities for prospective and existing investors in the region.
What were the main drivers of the proposed judicial reforms in Romania? Are these threatening the country’s progress in the fight against corruption? Is Romania at risk of backsliding in terms of independence of its judiciary, and what effect this might have on its investment climate?
What lessons can Ukraine learn from Romania and its fight against corruption? Can Ukraine be the new Romania in terms of anti-corruption? More broadly, what are the similarities do between Romania and Ukraine in terms of economic and political development?
Finally, looking ahead for the next 12 months, what are the key political flashpoints and risks in Romania and Ukraine?