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NNDKP managing partner: Local companies' domination on business law market to continue

Although international players entered the local business law market, local firms will further be dominant, Ion Nestor, managing partner with Nestor Nestor Diculescu Kingston Petersen (NNDK) told Business Standard.

Asked if the balance could revert in favor of international companies, Ion Nestor told the paper in an interview that he does not expect 'any dramatic repositioning on the Romanian market; things are well settled now and foreign companies are not in the position to want to grab the market.' In his opinion, foreign firms tend to offer services in all practice areas and do not plan setting shop as niche companies. According to the paper, the local market was estimated at 150-200 million euro this year, but Nestor said he cannot confirm this figure, as the calculation basis is unknown. However, he says, a trend does take shape. 'I think the average growth was somewhere around 10 - 15 pct,' said the NNDK representative. Referring to the perspectives of the local market, Nestor said services related to emerging businesses such as labor, environment, intellectual property and tax law will grow further. Classical sectors will further develop too, provided that economic growth goes on. At stake are mergers and acquisitions, real estate, banking & finance, and capital markets. A separate area that undergoes development, which Nestor also mentioned, is that of commercial litigations; criminal law also has a segment related to business activities, that starts to take shape in Romania, boosted by multiplying economic activities. Sursa: http://www.rompress.ro

Tags: market nestor local business euro

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