Vietnam

Established in 2014, Vietnamese law firm ACSV Legal has an office in Ho Chi Minh City. The firm extends its presence throughout southeast Asia and the Pacific Rim by its membership of One Asia Lawyers.

Focusses / specialisms

The firm is recognised for its corporate and M&A practices. It takes on mandates including mergers, acquisitions, corporate restructuring, joint ventures and private equity.

Sectors of activities include health and fitness, healthcare and pharmaceuticals, education, fintech and energy.

Key clients

Notable clients include California Fitness & Yoga Centers (or FitLG), Pham Nguyen Confectionery, O-We Water, Delta Offshore Energy and Jio Health Clinic.

Client feedback: 32nd edition (2022/2023)

Project development

"ACSV is highly commercial and practical. They understand their strengths and coordinate collaboration with other law firms for outside expertise. They work closely with their customers, up to the ultimate sponsors, to ensure holistic interests are considered whilst ensuring arm's length advice."

Established by Mark Fraser in 2004, full-service commercial law firm Frasers Law Company was the first law firm to receive a foreign law company license in Vietnam. The firm has established itself as a highly regarded firm in Vietnam. It maintains offices in Ho Chi Minh City and Hanoi. The firm’s breadth of work includes banking and finance, capital markets and corporate and M&A. 

Highlights

Projects highlights include advising the lenders Asian Development Bank, in relation to the project financing of the Monsoon Wind Power Project.  The Project entails the construction and operation of a 600-megawatt (MW) wind farm, battery energy storage system and associated substation and 22-km transmission line located in Sekong and Attapeu provinces of Lao PDR. Since the only offtaker in such project is Vietnam Electricity, a state-owned company in Vietnam, this transaction has a lot of issues relating to bankability arising from such offtakers which the firm are mainly in charge of.

Testimonials   

"Frasers have been very responsive and have provided precise and clear advice." (Banking and finance client)

"Patience with customers." (Banking and finance client)

"Their in-depth knowledge of the practice risks arising from transactions with the local banks." (Banking and finance client)

“They are responsive and thorough.” (Equity Capital market client)

"Always responsive, on target and helpful." (M&A client)

"Efficient response times and very good work product." (M&A client)

"Frasers Law Company has been exceptionally nimble, proactive, and skilled in providing excellent legal guidance under pressure and most importantly, was willing and able to immediately think creatively to form unique business solutions based upon their expertise." (M&A client)

"Frasers have a very skilled and experienced team and are extremely flexible. Frasers successfully managed M&A activities in multiple jurisdictions outside of Vietnam and dispute resolution matters within Vietnam. They have managed patent and trademark matters and are highly skilled in intellectual property. Frasers are experts in negotiating mutually acceptable outcomes and avoiding costly litigation."  (M&A client)

"Highly responsive and thorough pragmatic advice." (M&A client)

"Mark acknowledges requests promptly and offers succinct advice as needed."  (M&A client)

"They provided practical advice and reviewed our policy in line with our internal requirements whilst ensuring that the personal data decree of Vietnam is complied with. They did not just quote the decree and instead help us with understanding how we can practically apply what is set out in the decree, which is helpful for us and what we would expect when we engage external counsels." (M&A client)

"Responsive, experience and in-depth knowledge of Vietnamese law. Commerciality and ability to work with us on finding a practical solution if possible." (M&A client)

"Expertise on local law, familiarity with requirements of international lenders and prompt and on time delivery." (Projects client)

"Professional and prompt service." (Projects client)

"They are very user friendly and a good balance between providing good counsel but also highlighting when risks may be acceptable." (Projects client)

"They were responsive, clear in communication and offered useful advice." (Projects client)

"Very responsive and familiar with local regulation." (Projects client)

Key clients

ADB, VRB Energy, Coro Energy, Timo Vietnam Joint Stock Company, Smartpay, Sojitz, Lineage Logistics, Quanta, Geogas, Terminal Investment, Exploration and Production, Bolttech

Founded in 2019, Global Vietnam Lawyers (GV LAWYERS) is a law firm with international reach headquartered in Ho Chi Minh City. The firm covers both transaction and litigation in diversified matters such as tax, labour and employment, M&A, real estate, infrastructure, marine and shipping, intellectual property, trade, investment, education and civil matters.

Highlights

During the research period, the firm advised on one of the most challenging debt restructurings concerning bonds issuance in Vietnam in 2023 because of the parties involved into the transaction, the complexity of the parties’ obligations and agreements on bonds redemption, top-up obligation, personal guarantors and asset swap plan.

The firm also advised on serval large-scale and complex confidential project works during the research period.

Key clients

Keppel Corporation and Keppel Vietnam Fund, SkyWorld Development, Kusto Home Joint Stock Company, Cathay United Bank, Dai-ichi Life Vietnam Fund Management, VinaCapital Fund Management, Suntory PepsiCo Beverages Vietnam, Fleming International Vietnam

Established in 2016, Lexcomm is a full-service law firm with offices in Hanoi and Ho Chi Minh City. Key figures include Pham Ba Linh, who serves as managing partner and head of the energy, project finance and infrastructure practices. The firm is strongest in project development and has robust banking and finance, capital markets and M&A practices. 

Highlights

Project highlights include advising a consortium of international and Vietnam contractors on their successful bid for the construction of a USD 1.5 billion international passenger terminal of the nationally strategic "first-of-its-kind" USD 16 billion Long Thanh International Airport (LTIA) in Vietnam. This landmark “first-of-its-kind” LTIA project is an innovative and nationally strategic greenfield airport development with an estimated project cost of USD 16 billion and will become the largest airport in Vietnam.

Another “first of its kind” transactions include advising AC Energy in relation to its high-profile strategic acquisition of 49% interest in an 837 MW Vietnam solar platform of Super Energy.

Key clients

Nghi Son Refinery and Petrochemical, BlackRock Renewable Energy, Ørsted, Macquarie, BP Singapore, HSBC, BNP aribas, MUFG, The Boeing Company, Dubai Ports (DP) World, Macquarie’s Green Investment, Anheuser-Busch InBev, FedEx Express, Microsoft, Google, TikTok, Alibaba

Founded in 2006, LNT & Partners is a full-service independent firm with a focus on banking and finance, corporate and M&A, and project development practices. The firm has offices in Ho Chi Minh City and Hanoi and has expanded its presence in the region with an office in Singapore.

The banking team has experience in advising on matters involving regulatory compliance, project finance and syndicated loans. The M&A team’s expertise covers an array of sectors including banking and finance, real estate, insurance, pharmaceuticals and logistics. The project team is renowned for delivering cutting-edge and multidisciplinary advice to the public and private sector on all aspects of project development.

Highlights

Projects highlights include advising Ho Chi Minh City Management Authority for Urban Railways (MAUR) throughout the lifecycle of Metro Line No. 1 project, the pioneering underground project in Vietnam. The project is the first of eight planned metro line projects in Ho Chi Minh City has a total investment of more than USD 2 billion and is funded by Japanese overseas development assistance and Vietnamese counterpart funds.

Another landmark transaction saw the firm advising PV Power during the drafting and negotiation of the Long-Term Maintenance Agreement (LTMA) contract. This is the first Liquefied natural gas (LNG) power project in Vietnam and the size is large. LTMA is a very complex contract that only a few law firms are specialized on. LNT is the first Vietnam law firm that has expertise on LTMA contract advisory works.

Key clients

ZF Friedrichshafen, HELLA, NGK Spark Plug, Clarios, Ho Chi Minh City Management Authority for Urban Railways (MAUR), Hanoi Metro Railways Management Board (MRB), PetroVietnam Power, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) 

Active in Vietnam since 1994, Mayer Brown performs consistently across the financial and corporate space from two offices in Ho Chi Minh City and Hanoi. The firm performs consistently well in banking and finance, capital markets, corporate and M&A, and project development. The firm’s ability to act as both international and local counsel on large project mandates provides it with an edge over its competitors. The firm is active in a range of sectors such as financial services, real estate, food and beverages, education, and natural resources.

Highlights

In a landmark project finance mandate, the firm advised Asian Development Bank (ADB), Export Finance Australia (EFA) and Japan International Cooperation Agency (JICA) in relation to the project financing of the 144 MW Lotus wind farm in Quang Tri Province, Vietnam. It is the first limited recourse project financing of a wind power project in Vietnam by international lenders without export credit agency cover. It is also one of the largest wind power projects developed to date in Vietnam.

Testimonials   

“Strong legal expertise, practical advice, dedicated services.” (M&A client)

Key clients

Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), Export Finance Australia (EFA), Norfund

Active in the jurisdiction since 2010, Nishimura & Asahi has offices in Ho Chi Minh City and Hanoi and is the first Japanese firm to establish operations in Vietnam. The firm is recognised for its corporate and M&A work.

Highlights

Recent examples of the firm’s deal work include advising Mitsubishi UFJ Financial (MUFG), on the acquisition of 100% of the shares of HC Consumer Finance Philippines and 85% of the shares of Home Credit Indonesia. The transaction is legally innovative due to its groundbreaking nature within the realm of Point-of-sale (POS) loans. It also demonstrates the firm's capacity to handle unique cross-border deals.

Key clients

Lion Corporation, T Capital Partners, Toyota Industries, Mitsubishi UFJ Financial, Shikoku Electric Power, Aeon Financial Service, Carlyle, Toenec Corporation

Full-service law firm Rajah & Tann LCT Lawyers has offices in Ho Chi Minh City and Hanoi and is a member of the Rajah & Tann Asia network.

Focusses / specialisms

The firm is a consistent performer in banking and finance, M&A and project development.

The banking team is experienced, advising both lenders and borrowers, and often acts for financial institutions.

The corporate team acts on M&A matters and is also experienced advising venture capital funds and seed companies.

The international law firm Russin & Vecchi was founded in 1966. It has 10 independent offices across six countries. In Vietnam, the firm has offices in Hanoi and Ho Chi Minh City, with four partners and 20 lawyers. The firm acts as special counsel to local and global clients, and it works with international law firms on transactions in Vietnam.  

Highlights 

Recent examples of the firm’s banking work include acting as Vietnam counsel for Bank SinoPac – Ho Chi Minh City Branch in a $12 million facility to Kangaroo International Joint Venture Company for investment in its subsidiary - Viet Nhat Motors Joint Stock Company for the construction and operation of the subsidiary’s factory – Viet Nhat Motor Manufacturing and Assembly. The factory funded by the loan is the largest water purifier production facility in Vietnam. 

In the M&A space, the firm worked on an on-going M&A transaction in connection with the proposed investment by Chongqing Sanfeng Environment Group and Suez (Shanghai) Investment through the acquisition of a 30% stake of Vietstar, with an existing waste processing plant and a waste-to-energy project in the pipeline. Waste-to-energy (WTE) is a new area in Vietnam. Implementing a waste to energy project in Vietnam involves navigating a novel and complex regulatory and legal framework. The project must comply with environmental regulations, energy laws, waste management policies, and land use regulations. 

Project highlights include advising on one of the biggest construction projects in Vietnam recently. The firm acted as legal counsel to Coca-Cola in the establishment of its new factory in an industrial park in Long An Province, taking more than 19 hectares of land with a total investment of approximately $136 million.   

Key clients 

China Trust Commercial Bank, Bank SinoPac, Greenroof Energy Vietnam, Manulife, Prudential, China National Nuclear Corporation Overseas, Chart Industries, Coca-Cola, EVN HCMC   

Testimonials   

M&A 

“The firm is very responsive. It has broad knowledge of the industry, the regulations in Vietnam. The firm understands our needs and works hard to facilitate the discussion with the other party very effectively.” 

“They are truly experts on the law and can provide alternative structures when hitting roadblocks. Also, they are extremely responsive.” 

Private equity 

“I highly appreciate Russin Vecchi's comprehensive understanding of private equity investment. The expertise and experience of their legal team are evident in navigating the complexities of private equity investment, paying meticulous attention to detail, providing excellent and adequate legal advice throughout the investment process to make successful transactions. Additionally, their unwavering commitment to transparency, timely responsiveness and client satisfaction sets them apart as a trusted legal adviser in the private equity sector, especially in bond deals.” 

Project development 

“Being wise and careful in your advice to our project with not only professional expertise but also thoughtful practice close to our business.” 

“What make them stand out are their dedication and commitment, professional team, listening and understanding the needs from customers, reasonable rate and practical solutions.” 

Nhut Nguyen
"Nhut demonstrates a strong business mindset by understanding the importance of client needs in making assessments of legal risks for client to perceive and make decisions. Nhut is very skilled at providing clear and concise legal answers to client’s inquiries. He demonstrates strong attention to detail and is skilled at understanding and addressing client’s needs."

"Nhut has been very helpful in facilitating and closing our real estate M&A transactions, from DD until contracts execution."

"Really understands the law and work arounds."

Han Tran Ngoc
"A good and trustful lawyer who is always responsible for all tasks assigned regardless of how they urgent and complicated with thoughtfulness and cares about client's business."

"I highly appreciate the valuable supports from Han and her team to our business activities. She provides practical solutions helping us to run our business smoothly. Her legal knowledge, dedications, professionalism make her different."

"Han took on my extremely challenging and unprecedented M&A transaction in Vietnam with public scrutiny and high expectation from the shareholders and encountered issues that no one expected, and few had ever seen. She worked tirelessly to make sure that all legal basis and scenarios were laid out and presented it perfectly for my consideration. Also, she was a fantastic bridge to close the gap with the investor. She has stood by every one of my requests and guided me through the entire lengthy process. Though we faced challenges, Han did not falter. Her thorough research provided us the pathway we needed to ride to deal success."

From a small group of lawyers initially working with magic circle law firm Clifford Chance in 1993, VILAF has developed into an independent law firm with 90 lawyers including 15 partners in its two offices in Ho Chi Minh City and Hanoi, which is one of the largest team of English-speaking business lawyers in Vietnam. Vo Ha Duyen is the chairperson, with Dang Duong Anh managing partner of the Hanoi practice. The firm is ranked among the market-leading firms across the board in the financial and corporate space.

Highlights

In capital markets, the firm advised the underwriters and Black Spade in connection with the  $23 billion Special Purpose Acquisition Company (SPAC) combination and the Nasdaq listing of Vietnam EV maker VINFAST (VFS). The listing and SPAC transaction are unprecedented deals of many first in Vietnam. It is the first time of a Vietnamese company listing overseas in the US and the listing has been gone through SPAC transaction.

Projects highlights include advising Nghi Son 2 BOT on the operation and development of Nghi Son 2 BOT Power Project. The project considered one of the first large-scale power projects in Central Vietnam. It is the first and until now, the only international public tender to select foreign investors for power projects in Vietnam. It is also among the first projects of imported coal in Vietnam.

Testimonials   

"They are very responsive and provide commercially sensible and legally sound advice" (Banking and finance client)

"Prompt response, professional and comprehensive advice " (M&A client)

"VILAF's proactive approach to communication ensures that clients are kept informed every step of the way, demonstrating a commitment to transparency and client satisfaction. They always consider the deal's commercial aspect. (M&A client)

Key clients

Vingroup, J&T Express, SCG Décor, ANT, Citigroup, SCB X, SKC, Sojitz Corporation and Vinamilk, CapitaLand, OPEC Fund for International Development, Sumitomo Mitsui Banking Corporation (SMBC), International Finance Corporation (IFC), Fulbright University Vietnam, Moody's Asia Pacific, Marubeni, B.Grimm Power

Full-service law firm Vision & Associates is staffed with more than 100 lawyers, patent & trademark attorneys and consultants. The firm has offices in Ho Chi Minh City and Hanoi.

Focusses / specialisms

The firm performs consistently in banking and finance, corporate and M&A, and project development.

The banking team advises both foreign and local banks on developing their businesses and on transactions. The firm is also often engaged to advise government agencies.

The corporate team is capable of handling matters including regulatory compliance, privatisations, restructuring, mergers and acquisitions.

In projects, the firm is active in sectors including transport, energy and real estate, often acting for foreign and local clients.

Key clients

Notable clients include World Bank, HSBC, Sumitomo Mitsui Banking Corp, ANZ Banking Group, Korea Development Bank, Wartsila Vietnam, Duxton, DWS, VOF, Olam, Diebold Nixdorf Vietnam, Nokia and ING Groep.

Established in 1999, YKVN is one of the clear market leaders in the financial and corporate space in Vietnam. The firm has grown to become an independent law firm with over 90 legal professionals in three offices in Hanoi, Ho Chi Minh City and Singapore. The firm’s deep bench is headed by Truong Nhat Quang.

Highlights

Recent examples of the firm’s deal work include advising Masan Group in its issuance of USD 250 million convertible dividend preference shares to Bain Capital Private Equity. This deal is ranked among the largest M&A deals in Vietnam in 2023.

Projects highlights include advising K-Exim in the early stage of project development, including bankability issues for the project with a focus of the bankability issues for the Power Purchase Agreement (PPA). This project would be the first of its kind to be financed without a government guarantee and set the precedent for the other LNG-to-power projects.

Key clients

PetroVietnam Power Corporation (PV Power), Copenhagen Infrastructure Partners (CIP), Export-Import Bank of Korea (K-exim), Vietcombank, Vietinbank, Military Joint Stock Commercial Bank (MB), Export-Import Bank of Thailand (EXIM), Masan, Vingroup, Maybank Securities, Credit Suisse, JP Morgan

New York-headquartered law firm Shearman & Sterling caters to the Vietnam market through its Singapore and Seoul offices. Key figures include partners Anna Chung, Won Lee and Bill McCormack.

Focusses / specialisms

The firm has a particular focus on the energy sector and is experienced in advising on matters involving project finance, capital markets, corporate and M&A, and project development.

Key clients

Notable clients include Export-Import Bank of Korea and BIM Land Joint Stock Company.

Established in 1902, Allen & Gledhill is a colonial partnership of two in Singapore and it is one of the largest and leading law firms in the region. Allen & Gledhill (Vietnam) was established in 2020 to further expand Allen & Gledhill's regional network. Based in Ho Chi Minh City, the firm is fully licensed to provide Vietnam legal advice and issue Vietnam legal opinions, covering all major practice areas including banking and finance, capital markets, corporate and commercial, corporate real estate, energy, infrastructure and projects and mergers and acquisitions.

Highlights

Recent examples of the firm’s deal work include advising Phu My 3 Bot Power on the transfer of Phu My 3 build-operate-transfer (BOT) Thermal Power Plant, the first foreign invested BOT Project in Vietnam, to the Ministry of Industry and Trade (MOIT) and Vietnam Electricity (EVN) upon the expiry of the 20-year operation term. Phu My 3 BOT Thermal Power Plant was the first power project with 100 percent foreign capital being invested under the public-private partnership of BOT which was assigned to foreign investors by the Vietnamese Government right after the period of opening and international integration.

Testimonials   

"Local expertise in Vietnam familiar with matters related to transfer of state-owned assets which is a very specialised skillset. Coupled with international experience and a good network of lawyers in the jurisdictions of target acquisitions." (Project development client)

Key clients

Phu My 3 Bot Power Company, BCG-SP Solar 1 Joint Stock Company, Daiwa House Asset Management Asia, APAC Realty

Founded in 2012, AN Legal is a Ho Chi Minh City-headquartered boutique law firm with seven qualified lawyers. The firm has expanded its client base through alliances with Wilberforce TJC Law Corporation in Singapore and HUYN Law in Korea.

Focusses / specialisms

The firm specialises in corporate and M&A work in the real estate sector and takes on work from foreign and local investors and investment funds.

Key clients

Key clients include VinaCapital, Kido Group, Nam Phat Villa and Hotel Company, VinaCapital Danang Resort, Catalina Corporation and Cypress Assets.

Research period review: 30th edition (2019/2020)

The firm continued its focus on the real estate sector, taking on roles for both buyers and sellers on acquisitions and on regulatory compliance work. An interesting mandate saw the firm advise Taekwang Vina Industrial Joint Stock Company on post-acquisition regulatory compliance work. Another highlight saw the firm advise a local investment management company on acquiring a mixed-use project.

Deal highlights: 30th edition (2019/2020)

Cong Hoa Garden development

Cypress Assets $50 million divestment of stake in Sheraton Nha Trang Hotel & Spa

Industrial Development Company $65 million acquisition of Vinh Phuc Province Industrial Park

VinaCapital Danang Resort $133 million acquisition of Orchard Parkview and Golden Mansion real estate assets

Client feedback: 30th edition (2019/2020)

Financial and corporate

“Wonderful experience. Knowledgeable and responsive!”

“They advised on how the local regulations and laws applied in reality. They did very well.”

“Responsive and good knowledge in their legal field.”

M&A

“AN has good knowledge about the market and can foresee the potential risks in a deal. Their strong network supports the process and makes it quick and efficient.”

“Very responsive and commercial, detailed knowledge of the laws and practical cases in Vietnam, and precise and comprehensive advice.”

Project development

“They provide foreign company standards to foreigners with good local legal knowledge and experience.”

Andersen in Vietnam has been in Vietnam since 2013. Its office is located in Ho Chi Minh City. Key figures include Thuan Pham, Giang Pham and Jirasak Latada. The firm has offices throughout the region in Cambodia, Indonesia, Laos and Myanmar.

Focusses / specialisms

Over the past year, the firm's regulatory and corporate practice has grown, with new clients looking to enter the Vietnam market.

The firm's legal and tax advisers provide services through expert teams for projects, banking and finance, corporate, taxation and tax disputes.

Founded in 2008 with offices in Hanoi, Ho Chi Minh City and Yangon, international law firm Audier & Partners changed its name to APFL & Partner.

Focusses / specialisms

The firm has particular expertise in real estate, manufacturing, energy, agribusiness, hospitality, infrastructure, distribution and media.

Key clients

Key clients include Accor, Apave International, Canal+, Central Group, DFS Group and Havas.

Client feedback: 32nd edition (2022/2023)

Banking and finance

"Very reactive and reliable (always meet deadline). Excellent work. Trilingual: French/English/Vietnamese."

Project development

"Responsive, good combination of rigorous legal analysis and advice based on practical realities on the ground."

Active since 2021, Aplus Law is a full-service law firm located in Ho Chi Minh City. Key figures include Nguyen Duy Anh, who serves as the management partner.

Focusses / specialisms

The firm specialises in banking and finance, capital markets, competition/antitrust, construction, corporate and M&A, dispute resolution, regulatory, intellectual property, labour and employment, investment funds, private equity, restructuring and insolvency, and tax.

Founded in 2017, Asia Legal is a business law firm in Vietnam which has a head office in Hanoi and two offices in Ho Chi Minh City and Quang Ninh province.

Focusses / specialisms

The firm specialises in M&A, inward investment, mining and energy, employment and labour, property and construction, international trade, intellectual property, dispute resolution, outward investment and capital markets.

Its clients come from a broad range of sectors and industries, including major financial institutions, investment funds, multinational corporations, and local private and public companies.

Client feedback: 32nd edition (2022/2023)

Private equity

"1. They have strong expertise and in-depth knowledge of Vietnam’s political culture and legal developments. Also, they can combine deep local knowledge with international standards of expertise to provide us with basic principles and advance practices in the capital markets, and consult us how to apply such principles and practices in managing our private fund. 2. They served us as trusted advisers and are dedicated to being enthusiastic partners, not merely vendors. That means tailoring to our needs, understanding our requirements, and looking for value-added opportunities to maximise our benefits, rights and interest when negotiating with FPT. 3. They offered us real value and flexibility by utilising creative billing structures and alternative fee arrangements that satisfied our needs. 4. Their employees are experienced legal practitioners who can maintain a high quality of work for a long-term period and hold themselves to an expectation of excellence. Every memo, every opinion, every term and condition they reviewed and every legal advice they gave us was above expectations."

"Wide range and in-depth knowledge of the laws and regulations of Vietnam. Flexible in offering and adjusting the structure of our private fund, as well as other extraordinary terms and conditions we wanted to add to the agreement with FPT. Kind and professional and trustful legal team."

Founded in 2007, ATIM Law Firm is a full-service firm with offices in Hanoi and Ho Chi Minh City. Quang H Trinh serves as senior partner.

Focusses / specialisms

The firm is recognised for its work in the corporate and M&A and project development areas.

The firm’s expertise includes advising on inbound and outbound M&A, joint ventures and regulatory compliance.

Research period review: 30th edition (2019/2020)

During the review period, the firm was primarily active in the corporate and M&A space. The firm advised on several confidential matters related to regulatory compliance, corporate restructuring, and entity establishment. 

Founded in 2014, ATS Law Firm is a full-service law firm with offices in Hanoi and Ho Chi Minh City.

Focusses / specialisms

The firm is noted for its banking and finance, corporate and M&A, and project development practices.

Sectors of activity include real estate, engineering and construction, hospitality, healthcare and fintech.

Baker McKenzie has over two decades of experience in Vietnam and has offices in Hanoi and Ho Chi Minh City. The firm has a highly regarded practice in Vietnam and is helmed by managing partner Frederick Burke.

Focusses / specialisms 

The firm boasts a market-leading corporate and M&A practice and has strong banking and finance, capital markets and project development practices as well. 

The banking and finance team provides advice on matters including project finance, real estate finance, financial services regulatory, structured finance and asset finance.

The capital markets team is experienced in handling both debt and equity matters.

On the corporate side, the firm acts for domestic and international clients across a diverse range of sectors including banking and financial services, consumer products, real estate, energy, retail, healthcare, food and beverage and technology.

Key clients  

The firm’s impressive client list includes Canadian Solar, Hopewell Group, Tata Group, Sumitomo, Maybank International, The Korea Development Bank, HSBC, VNPay, Mittal Steel and Standard Chartered Bank.

Full-service law firm Bizlink Lawyers was established in 2007 and has offices in Hanoi and Ho Chi Minh City. Do Trong Hai serves as managing partner of the firm.

Focusses / specialisms

The firm is strongest in corporate and M&A, and is active in banking and finance, capital markets and project development.

The firm takes on clients from a range of sectors including real estate, hospitality, industrials and manufacturing, and technology.

Key clients

Key clients include Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Bank for Investment and Development of Vietnam (BIDV), MUFG Bank and Vietcombank Securities.

Founded in 2008, Bross & Partners is a well-recognized and reputable local law firm in Vietnam. It has offices in Hanoi and Ho Chi Minh City. The firm specializes in corporate and M&A, real estate and construction, arbitration, litigation and dispute resolution, white collar crimes and criminals.

Highlights

Recent examples of the firm’s deal work include advising Nghi Son Refinery and Petrochemical (NSRP), a developer of Nghi Son Refinery and Petrochemical Complex Project with value of more than USD 10 billion. The project is considered as biggest foreign investment project in Vietnam and create many jobs for local people, contribute a lot to local budget. 

Key clients

Vietnam National Petroleum Group (Petrolimex - PLX), Nghi Son Refinery and Petrochemical (NSRP), Mercantile Exchange of Vietnam (MXV), Trung Nam Construction Investment, Phu Bia Mining Laos

DFDL has assisted clients in Vietnam since 1995, advising on both local and international legal and tax matters from its offices in Ho Chi Minh City and Hanoi. The firm advises on all aspects of investments from general regulatory matters to commercially robust, complex and bespoke sophisticated transactions.

Focusses / specialisms

The firm has a strong project development practice and also has well-established banking and finance, capital markets and M&A practices.

The banking team provides advice on matters including acquisition finance, project finance, structured finance and leveraged finance.

The corporate and M&A team is active in industries including energy, real estate, mining, retail, and technology and telecommunications.

The projects team often acts for regulators, financiers and developers and has a particular focus on the clean energy space.

Key clients

Key clients include Asia Development Bank, Standard Chartered Bank, World Bank, IFC, ANZ, French Development Agency, B.Grimm, Total Energy, Hecate Wind, Aker Horizons and Proparco.

Founded in 2015, DIMAC Law Firm is a professional law firm with a head office located in Ho Chi Minh City and two main branches established in Hanoi and Da Nang City. The firm currently has four partners and roughly 35 proactive lawyers and legal assistants.

Focusses / specialisms

The firm is well known for its corporate and M&A, especially in corporate and investment.

Sectors of activities include medicine, energy, mining, technology and real estate.

Its clients include Vietnamese enterprises, international organisations and foreign-invested enterprises operating in Vietnam or investing into Vietnam.

Key clients

Notable clients include Acer Vietnam, ACB Bank, Qair Group (Vietnam), Lock & Lock, Jebsen & Jessen, Herbalife Vietnam, PepsiCo Vietnam, Coteccons Group and Hitachi Plant Technologies (Vietnam).

Client feedback: 32nd edition (2022/2023)

M&A

“DIMAC take my ideas into consideration for the sales strategy and reply to me promptly.”

“Solid understanding of rules and regulations. Good experience, know precedents to suggest effective structure. Strong English proficiency (verbal and document drafting).”

Founded in 2014, Victory is a full-service law firm headquartered in Ho Chi Minh City. Key figures include Dung Le, who acts as managing partner. The firm has a regional presence through associate firm networks in Korea, Japan, Singapore and Thailand.

Focusses / specialisms

The firm is strongest in corporate and M&A and project development work.

It has experience advising on matters in a wide range of industries including energy, logistics, hospitality, real estate, manufacturing, media, food and beverage and construction.

Key clients

Recent clients include Beta Holdings, Dai Dung and Solarxell.

Research period review: 30th edition (2019/2020)

Highlights from the research period include advising a local manufacturing company on issuing bonds; advising several foreign investors in acquiring local companies; and assisting a foreign projects firm with implementing a rooftop solar project.

The firm strengthened its corporate offering with the additions of counsels Bernadatte Van Lindth from DTH-Law and Vien Dong Le from Indochine Counsel.

Deal highlights: 30th edition (2019/2020)

Ba Ria-Vung Tau sea port development

Beta Holdings restructuring

Vietnamese law firm DTLaw is headquartered in Hanoi and maintains a branch office in Ho Chi Minh City. The firm is led by managing partner Nguyen Tat Thang.

Focusses / specialisms

The firm is recognised for its corporate and M&A and project development capabilities.

The firm is experienced in a range of sectors, including logistics, food and beverage, consumer products, construction, healthcare and real estate.

Client feedback: 32nd edition (2022/2023)

M&A

“Professional work. Careful advice, ensuring our interests and the success of the deal.“

“The company performs very professional and comprehensive legal due diligence. Participating in the negotiation of the transfer contract very effectively and actively.”

International law firm Duane Morris & Selvam established its Vietnamese office in Ho Chi Minh City. The firm represents clients including multinational corporations with operations in Asia, as well as businesses seeking to establish investments in Asia. It also can leverage its global platform to facilitate Asia-based companies' entry into markets in the US, Latin America, the UK and beyond.

Focusses / specialisms

The firm is experienced in banking, M&A and project development.

The banking team advised clients on a broad range of matters, from large acquisitions and international bond issuances and syndications to regulatory advice in relation to blockchain-based securities trading and a major digital transformation project for a leading Vietnamese commercial bank.

In the M&A area, the firm has established a strong presence in consumer-facing sectors such as tourism, food and beverage, media and entertainment, and retail and luxury goods.

The firm is particularly known for major power projects involving clean and renewable energy.

Key clients

Key clients include DBS, Bank of Singapore, Vietnam International Bank, JP Morgan, Saint-Gobain, APU Educational Development, City Garden, DatViet VAC Media Entertainment Group, Tan Hung Industrial Zone Joint Stock and Sungrow Power.

Client feedback: 32nd edition (2022/2023)

Project development

“This firm closely worked with the relevant authorities to obtain our licence in time.”

Restructuring

“Very commercial mindset; creativity, problem solving.”

Established in 2009, EPLegal has developed a specialisation in the oil and gas sector. The firm’s head office is in Ho Chi Minh City, and it also has branches in Hanoi and Da Nang. Outside Vietnam, the firm has offices in Birmingham, Manchester and London in the UK.

Focusses / specialisms

The firm has been providing legal services in support of local Vietnamese and international commercial transactions, incorporations, mergers and acquisitions, maritime and aviation and other legal interests.

The firm also has strong M&A and project development practices and is active in banking and finance.

Key clients

Key clients include Keppel Land, PVECC, BW Offshore, Aqua One Water Corporation, VinaCapital, Sumitomo, LYS Energy Group, Lacroix Holding Group, Vietnam Oil & Gas Group (PVN), Sumitomo Corporation (Japan), PTTEP (Thailand) and Petronas Carigali Vietnam.

International law firm Freshfields Bruckhaus Deringer has been active in Vietnam since 1994. The firm has offices in Hanoi and Ho Chi Minh City.

Focusses / specialisms

The firm has strong work in banking and finance, capital markets, project development and corporate and M&A. It also boasts a restructuring practice.

The banking and finance team has extensive experience advising financial institutions across the gamut of financing transactions.

In M&A, the firm is experienced in financial institution acquisitions, often acting for foreign clients in acquiring and disposing of shares and assets of local financial institutions. It also acts for private equity houses and strategic investors on high-value deals.

The firm’s infrastructure team has historically advised on market-first mandates since 1994, including the first BOT power project in the jurisdiction. Key sectors of focus are conventional and renewable energy, transport, oil and gas, mining, utilities and social infrastructure.

Key clients

Key clients include Asian Development Bank, Japan Bank for International Cooperation, MUFG Bank, Mizuho Bank, Square Peg Capital, Mekong Capital and Stada Arzneimittel.

Client feedback: 32nd edition (2022/2023)

M&A

“Excellent understanding of oil & gas business and market practice for international M&A transactions in Vietnam. They will work efficiently under very tight timelines.”

Private equity

“Strong knowledge of transaction structure, legal angles, local regulations and investors' rights.”

Boutique firm Herman, Henry & Dominic has been active since 2016 and has offices in Saigon and Hanoi. The firm is a member of Lawyers Associated Worldwide (LAW). The firm is recognised for its work in the corporate and M&A space and especially experienced in entity structuring and formation, taxation, capital raising, securities law, and intellectual property protection. It advises both local and domestic companies on corporate transactions across a range of industries. 

Highlights

The banking team was active for borrowers on financing. On the capital markets front, the team was more active on debt mandates. They assisted with bond issues during the research period. In M&A the firm was active in private acquisition, merger, divestment and financial investment works.

Key clients

Be Group, Phat Dat Corporation, Thien Viet Securities, L’Occitane International, ILA

Under the leadership of managing partner Richard Stapley-Oh, KPMG Law’s team of over 100 personnel is spread across three offices in Hanoi, Ho Chi Minh City, and Danang.

Focusses / specialisms

The firm is recognised for its focus on corporate and M&A work. Sectors of experience include real estate, hospitality, healthcare, energy and manufacturing.

Research period review: 33^rd edition (2022/2023)  

During the review period, the firm was active on several confidential project finance, project development, private acquisition, and restructuring and insolvency deals.

The firm expanded its team with the addition of new partner Geraldine Oh from ZICO Law.

Leadco Legal Counsel is a Hanoi and Ho Chi Minh City-based full-service business law firm established in 1992. The firm provides a wide variety of legal services for both individuals and organisations.

Focusses / specialisms

The firm is on the leading edge of banking and finance law, providing legal counsel to several domestic and international financial institutions, including high-profile global banks. It routinely advises banking clients on virtually all matters associated with their operations, licensing, credit transactions, compliance with Vietnamese law, and other matters.

The firm also has extensive experience in the corporate and M&A area. The team are highly experienced in advising on establishment of new business entities and restructuring of existing ones, including joint ventures, joint stock companies, limited liability companies, businesses involving foreign investment, franchises and representative/branch offices.

Established in 2013, LMP Lawyers is a professional law firm with offices in Ho Chi Minh and Ha Noi.  Key figures include Le Minh Phieu, who serves as founder and managing partner. The firm has expertise in mergers and acquisitions, international trade and commerce, Fintech, banking and finance, labor and employment, intellectual property, and commercial dispute resolution.

Highlights

In M&A the firm was active on strategic deals on both the buy and sell side. The deals were in the logistics, food and beverage, consumer goods and services, healthcare, and industrial and manufacturing sectors.

Key clients

Pizza 4PS, Global Green Energy

Established in 2009, Vietnamese firm PLF Law Firm has 15 lawyers and maintains an office in Ho Chi Minh City. Since 2017, the firm has been in association with LawPlus, a law firm focusing on the Thailand and Myanmar markets.

Focusses / specialisms 

The firm is noted for its banking and finance and corporate and M&A practices.

Key sectors of focus include manufacturing, real estate, technology, food and beverage.

Key clients  

Key clients include Tech-Link Silicones, Viet Glove Corporation, Kurabo Vietnam, HTech Resources, and Boncafe Vietnam.

Client feedback: 31st edition (2020/2021) 

Project development

"PLF is very detailed in its procedure and this style of law firm is a great support to us: it explains to the other party an accurate picture of the risks they are taking."

Active since 2000, PwC Legal Vietnam is a full-service law firm with offices in Ho Chi Minh City and Hanoi. Key figures include Le Anh Tuan, who serves as director, and partners Phan Thi Thuy Duong and Eva Szurminska Jaworska. Access to PwC’s global networks provides the firm with an edge when catering to clients’ needs.

Focusses / specialisms

PwC Legal in Vietnam is ranked for its corporate and M&A and project development work.

The firm takes on clients from sectors such as agriculture, real estate, and food and beverage.

Regional law firm Tilleke & Gibbins has been active in the Vietnam market since 1992 and has offices in Hanoi and Ho Chi Minh City. The firm also has offices in Bangkok, Jakarta, Vientiane, Phnom Penh and Yangon.

Focusses / specialisms

The firm has strong corporate and M&A and project development practices and is also active in the banking and finance space.

The corporate team has particular strength advising on market entry, corporate formation and licensing, and mergers and acquisitions.

In projects, the firm has experience acting for national and international operators in the petroleum industry, as well as companies focused on new energy technologies and renewables such as solar power and wind power.

Key clients

Notable clients include Wirecard.

VCI Legal is founded by managing partner Tuan Phung in 2022. The firm headquartered in Ho Chi Minh City with a Hanoi office and another 14 affiliated offices from Asia, America and the Middle East to Europe. The firm is recognised for its banking and finance, M&A and project development work. Sectors of activities include manufacturing, FMCG, banking and finance, investment, services, media and technology.

Highlights

The banking team was active for borrowers on acquisition finance. It also advised on financial services regulatory matters. In M&A the firm was active on private acquisition. On the project front, the team mainly acted for project developers and investors.

Key clients

Solenis, RIYAZ Assets, Nanga Parbat Investments, Koidra, HONG NGOC VIET TRAVEL INVESTMENT, CIC Service, Baujour International, Antword Law

Venture North Law is a boutique law firm founded in 2013 with a focus on the corporate and M&A practice area. The firm is helmed by managing partner Nguyen Quang Vu and is headquartered in Hanoi.

Focusses / specialisms

M&A and investment is the core practice of the firm. The team is experienced in assisting clients on greenfield investment, joint ventures and acquisitions.

The firm takes on clients from sectors including real estate, technology, consumer products, hospitality, energy, fintech and transport.

Client feedback: 32nd edition (2022/2023)

Private equity

“Venture North Law provided us with a very efficient structure for the deal. They are also very good at drafting transaction documents.”

In May 2019, LVN & Associates became a fully integrated member of the Watson Farley & Williams’ network to form Watson Farley & Williams LVN. The firm is located in Hanoi with Linh Doan being a key figure.

Focusses / specialisms 

The firm’s strength lies in its banking and projects practices. It is focused on the energy and infrastructure sectors and is capable of advising clients throughout the energy project life cycle. The firm has been involved in almost all BOT coal-fired power projects in Vietnam and is also active in the renewable energy space.

In the projects space, the firm advises government agencies, international lenders and investors on both inbound and outbound work including regulatory issues, and project finance and foreign investment deals.

Key clients  

Notable clients include The Ministry of Industry and Trade of the Socialist Republic of Vietnam, Toyo Ink, and the Asian Development Bank. 

With offices in Hanoi and Ho Chi Minh City, ZICO Law in Vietnam has been active since 2011 and operates as a full-service law firm. The firm boasts membership of the regional network of ZICO Law.

Focusses / specialisms

The firm has strong banking and finance, corporate and M&A, and project development practices.

The banking team advises clients such as financial sponsors, corporations and financial institutions across all stages of transactions.

The corporate team acts for a variety of clients, including sovereign wealth funds, real estate developers and private equity funds.

The projects team has experience in sectors including energy, utilities, oil and gas, transport, real estate and construction.

Key clients

Notable clients include China Development Bank, Hong Leong Bank Berhad, Industrial and Commercial Bank of China, United Overseas Bank, HSBC, Raito Kogyo, Khazanah Nasional Berhad, Savills Group and Tai Yuen.

Client feedback: 32nd edition (2022/2023)

M&A

“ZICO is very professional in handling cross-border transactions, familiar with Vietnamese law, and can efficiently and quickly respond to our questions regarding local laws, which provides great support to our cross-border transactions.”

“Pro-business advice with high integrity and expedited professionalism.”