Vietnam

Founded in 2005, RHTLaw Vietnam is a leading Vietnamese law firm with offices in Ho Chi Minh City and Hanoi. The firm has been part of the RHTLaw Asia network since 2016, and it is also a member of APG firms.

Focusses / specialisms

The firm is active on the equity side of the capital market. Sectors of activities include industrials and manufacturing, banking, technology and telecommunications, construction and materials.

Established in 2004, Frasers Law Company has established itself as a highly regarded firm in Vietnam. The firm maintains offices in Ho Chi Minh City and Hanoi.

Focusses / specialisms 

The firm’s breadth of work includes banking and finance, capital markets and corporate and M&A. The banking and finance team advises on refinancing and restructuring existing loans with particular emphasis on infrastructure projects in the energy sector.

The firm’s capital markets team works closely with the banking practice to advise on matters including structuring and tax issues and convertible debt securities and structured products.

In corporate and M&A, the firm advises across a range of matters including acquisitions, divestments and related financing arrangements, capitalisations and entity establishments.

The projects team has expertise in sectors including energy, oil and gas, utilities, transport, telecommunications, mining and natural resources.

Key clients

Notable clients include Asian Development Bank and VinaCapital Vietnam Opportunity Fund (VOF).

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

The firm’s banking team was responsible for several confidential cross-border financing and refinancing mandates.

In the capital markets area, the firm advised on debt and equity transactions. On the debt side it advised on hedging, swaps and bond issuance. On the equity side it worked on share offerings, share transfer and IPOs.

The corporate team was active on a host of transactions, advising clients such as buyers, sellers and investors.

The firm was also responsible for several confidential project development and restructuring mandates.

Deal highlights: 33rd edition (2022/2023) 

VinaCapital Vietnam Opportunity Fund’s $40 million revolving credit facility.

Client feedback: 33rd edition (2022/2023) 

Bank lending

“Always helpful, fast turnaround, very experienced, trustful.”

Capital markets

“Knowledgeable of local laws, fast turnover, detailed and assist well in terms of closing.”

Financial services regulatory

“Good technical advice with a commercial focus on solutions.”

M&A

“Foreign investment legal advice and structuring.”

“Frasers has strong knowledge of the applicable local laws and communicates at the standard of an international firm.”

“Lawyers have English language capabilities; reasonable pricing.”

“They have expertise in the area they are in and provide professional services.”

Private equity

“Providing local and tailored legal advice to a very high international standard.”

Project development

“Advice is always timely, comprehensive and technically competent.”

“Frasers shared their in-depth knowledge of our target provinces' investment incentives and tax incentives for our investment project. They also organised a webinar to further share about projects financing, M&A deal in Vietnam.”

“Very user-friendly. The firm provides legal advice in a concise and practical manner.”

Project finance

“Thorough, detailed analysis and responses to questions. Responsive and working to deadlines. Strong understanding of Vietnamese law and practice.”

Restructuring

“Frasers have a diverse number of specialists that generally can cover most of our legal requirements. They are fast and efficient and get back to you when they have agreed to.”

“Knowledgeable and detailed explanation in terms of different possible scenarios.”

Mark Fraser

“Promptly assigned lawyer to support.”

“Communicates well.”

“Extremely responsive and attentive to the legal issues we are facing.”

“He has expertise in Vietnamese law practice and deep experience in law practice.”

“His long-standing in-country knowledge of regulatory issues in Vietnam.”

“Mark is very responsive with excellent local knowledge and an excellent view on legal issues outside of Vietnam.”

“Not only does he give legal advice but he has a wide human network so he also can introduce and connect business.”

“Professional, knowledgeable and helpful.”

“Responsiveness, detailed knowledge of Vietnamese law and practice. Always calm and a pleasure to work with.”

“Very responsive and easy to do business with.”

“Very responsive. Practical advice given.”

Justin Gisz

“He is good, always ready for us, has a very good understanding of us and has work to be done.”

“We trust Justin's advice. He communicates clearly and marries strong legal knowledge with an awareness of the local market.”

Duong Mai Thi Huong

“She always provides quick advice for our queries.”

Ho Tram

“Knowledgeable, helpful and fast turnaround.”

“Professional, helpful and knowledgeable.”

Founded in 2019, Global Vietnam Lawyers is a law firm with international reach headquartered in Ho Chi Minh City.

Focusses / specialisms

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.

Key clients

Notable clients include DL Investment Co.

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

The firm has been active in M&A and project work during the research cycle.

In M&A the firm was active on joint venture, share buyback and real estate acquisition.

The firm was also responsible for several confidential project development mandates.

Deal highlights: 33rd edition (2022/2023) 

DL Investment 45% stake buyout

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.

Focusses / specialisms

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.

Key clients

Notable clients include Dakdrinh Hydropower Joint Stock Company, Chrysaor, Bio-Invest, Hanwha Asset Management, Tiki Corp, Kids Plaza and Vietnam Airlines.

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

The banking team was active in financing work in different sectors including technology and telecommunications and energy.

In M&A, the firm was active in strategic deals on both the buy and sell side in healthcare, investment management, utilities and energy sectors.

The project team acted for project developer and contractor in real estate and energy sectors.

The firm was also active in restructuring work, mostly for debtors.

Deal highlights: 33^rd edition (2022/2023)  

BW Industrial Development JSC’s lease and development of land in an industrial park in Quang Ninh province.

Dakdrinh Hydropower Join Stock Company’s debt refinancing.

Client feedback: 33^rd edition (2022/2023)  

Bank lending

“The LNT team, specific to Ms. Minh’s team, is one of the best legal service teams we have ever worked with. Their quick response, commercially oriented advice and responsive lawyers did provide a big contribution to the success of the deals they were involved in.”

Financial services regulatory

“Timing. High quality. Dedicated.”

M&A

“They are very supportive and willing to do their best to find solutions with us while dealing with the authority and seller, beside their professional legal advice.”

“Very good and professional services.”

Private equity

“Provide useful and beneficial legal advice for the legal due diligence and negotiation of the transaction documentation.”

Project development

“The attorneys at LNT & Partners are highly skilled and experienced in their areas of practice.”

“LNT & Partners stands out for their exceptional service and dedication to our needs. They take the time to understand our business and provide tailored legal advice that meets our specific requirements. We appreciate the professionalism and attention to detail that they bring to every engagement.”

“Working with LNT & Partners has been an excellent experience for our company. Their team is professional, attentive, and provides clear and concise legal guidance. We appreciate their ability to provide practical and effective solutions to complex legal issues.”

Quyen Hoang

“She is very positive and always listening to clients' needs and concerns. She is also supportive and has good ideas for solving problems, if any.”

“Very professional and dedicated in working with the client's various scheme or needs.”

Net Le

“He's very creative and flexible in handling cases. Dedicated to the client.”

“Responsive.”

Anh Tuan Nguyen

“Legal knowledge, insightful advice, proactive and supportive attributes.”

Thanh Nguyen

“He is smart and very industrious, fast responding no matter on weekend or holidays, he can provide legal service to us with care.”

Minh Vu Thanh

“Ms. Minh, the partner in charge of our projects, is always responsive and provides practical solutions that help us navigate complex legal issues with confidence. She provided us with invaluable legal guidance and support, and we would highly recommend her to any business looking for high-quality legal services.”

“Ms. Minh is highly skilled in law and has a deep understanding of the regulatory environment. She is always willing to go the extra mile to ensure that our legal needs are met.”

“Ms. Minh is professional, responsive, and always goes above and beyond to ensure our needs are met. Ms. Minh is knowledgeable, thorough and consistently provides us with exceptional legal advice.”

“We especially recommend their partner Vu Thanh Minh, who has an extremely detail-oriented and commercial mind at the same time – a rare find. Her advice is always spot on whilst being executed. She is an excellent practitioner.”

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.

Focusses / specialisms 

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 & beverages, education, and natural resources.

Key clients

Notable clients include BNP Paribas, HSBC, JP Morgan Chase, Sumitomo Mitsui Banking Corporation (SMBC) and the Ministry of Finance.

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

The banking and finance team primarily acted for lenders, often on project financing transactions.

In M&A, the firm was responsible for several confidential mandates.

In the projects space, the firm advised a multilateral financial institution on its financing of a wind farm project, which was one of the largest wind power projects developed to date in Vietnam.

Deal highlights: 33rd edition (2022/2023) 

ADB, EFA and JICA project financing of the 144 MW Lotus wind farm in Quang Tri province.

DEG-Deutsche Investitions- und Entwicklungsgesellschaft’s $25 million financing

Client feedback: 33rd edition (2022/2023) 

Bank lending

“Very responsive and able to guide us through the complexity of local regulation. The international/English law team and the Vietnamese team worked well together to ensure linked-up service delivery.”

Project development

“Very responsive. Proactive. Highly knowledgeable about project documentation. Support lenders well.”

Project finance

“Commercial approach and understanding of client need and drivers.”

Restructuring

“Professional, on time, reliable.”

Matthew Chow

“Very responsive, accurate, thorough and easy to deal with.”

David Harrison

“Commercial approach and knowledge of jurisdiction.”

“Professional, efficient, reliable and very sharp.”

Hai Thao Nguyen

“Technically excellent across a myriad of Vietnamese regulatory issues.”

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. 

Focusses / specialisms  

The firm is recognised for its corporate and M&A work.

Key clients  

Notable clients include Marubeni Corporation, Lion Corporation, T Capital Partners Co and TEPCO Renewable Power. 

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

During the review period, the firm primarily advised buyers – often Japanese companies – on acquisitions in a wide range of sectors, including energy and power.

 Deal highlights: 33^rd edition (2022/2023)  

Lion Corporation’s acquisition of shares in MERAP Holding Corporation.

Marubeni Corporation and Fujiya Co joint venture.

TEPCO Renewable Power’s acquisition of shares in Vietnam Power Development Joint Stock Company.

Top Vietnamese law firm VCI Legal was founded in 2022. Its headquarter is located at Ho Chi Minh City with a Hanoi office and another 14 affiliated offices from Asia, America and the Middle East to Europe.

Focusses / specialisms

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.

Key clients

Notable clients include Solenis Singapore, D&T Technology & Development, Smith Muller Vietnam Company and Uni-Asia Company.

VILAF houses its large team of 80 practitioners in its two offices in Ho Chi Minh City and Hanoi. Vo Ha Duyen acts as the chairperson with Dang Duong Anh acting as managing partner of the Hanoi practice. 

Focusses / specialisms 

The firm is ranked among the market-leading firms across the board in the financial and corporate space.

The banking and finance team is skilled in advising on cross-border financing transactions, particularly in financing BOT power projects.

In the area of capital markets, the firm is experienced in advising on transactions such as IPOs on international and domestic exchanges, acquisitions, structured de-listings for private equity acquisitions, equity capital market products and bond offerings.

The firm’s corporate and M&A practice caters to clients in their joint ventures and M&A transactions, with a particular focus on energy and infrastructure, banking, real estate and construction, and retail sectors.

The projects team has capabilities in advising domestic and foreign project developers and lenders, particularly in the renewable energy sectors. 

Key clients 

Notable clients include Alipay, Worldpay Group, DBS Bank, UOB Singapore, Citibank, Bank of Tokyo-Mitsubishi, Credit Suisse, JP Morgan, HSBC and Standard Chartered Bank (Hong Kong). 

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

The banking team recently acted for lenders and borrowers in matters such as financing and asset financing in the real estate, manufacturing and energy sectors.

In the capital markets area, the firm advised on debt and equity transactions. On the debt side, it did a mix of issuer, initial purchaser and underwriter side work on bond issues. On the equity side, it worked for issuers on IPOs.

In M&A, the firm was active in strategic deals on both the buy and sell side. The deals came across different sectors, including industrials and manufacturing, and energy.

The project development team was primarily active in the petrochemicals and energy sectors.

Deal highlights: 33rd edition (2022/2023) 

BeerCo’s IPO.

Goshawk Aviation’s sale of Goshawk Aviation to SMBC Aviation Capital.

Hung Thinh Land’s $420 million bond issue.

SVP acquired 100% capital in Jaguar International Corporation Hanoi.

Client feedback: 33rd edition (2022/2023) 

Asset finance

“Very good aviation firm combined with full-service litigation capability.” 

Bank lending

“Provide legal advice together with local market practice and mitigation.”

M&A

“Professional and competent.” 

Project development

“The VILAF team is always responsive and addresses issues. They understand our business very well and always provide us with helpful and practical advice to support our business.” 

Quang Hung Nguyen

“Provides legal advice together with local market practice and mitigation.” 

Duyen Ha Vo

“With her intimate knowledge of our business and in-depth legal knowledge, she provides valuable advice and supports our team to have a better understanding of the transaction and pros and cons of each option, which supports us in making decisions. She always comes up with a workable and practical solution, not just a legal issue.” 

Trung Vu

“Professional and detailed.” 

Since its founding in 1999, YKVN has expanded its presence to include Hanoi, Ho Chi Minh City and Singapore. The firm’s deep bench is headed by Truong Nhat Quang. 

Focusses / specialisms  

YKVN is one of the clear market leaders in the financial and corporate space in Vietnam.

The firm's banking and finance practice’s scope of work includes corporate finance, asset finance, project finance and bank M&A.

In the area of capital markets, the firm covers equity offerings, debt offerings, investment funds and regulatory advice.

The corporate and M&A team advises on cross-border mergers and acquisitions, disposals, corporate restructurings and takeovers.

The firm is actively involved in project development work where it advises on matters across an array of industries.  

Key clients  

Notable clients include Standard Chartered Bank, HSBC, Credit Suisse, JP Morgan, Citibank, Central Retail Corp, Nanofilm Technologies International, No Va Land, SCIC, Vietnam Airlines, SonKim Land, Binh Son and Copenhagen Offshore Partners.

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

The banking team mainly advised lenders on matters including asset finance, acquisition finance and refinancing.

In the capital markets area, the firm advised on debt and equity transactions. On the debt side, it did a mix of issuer and underwriter side work on project bond issues. On the equity side, it worked for issuers and underwriters on cross-border IPOs.

The M&A team was active for sellers and acquirers on private acquisitions in consumer goods and services, healthcare, and industrial and manufacturing sectors.

The firm was also active on several confidential project development and restructuring and insolvency mandates.

Deal highlights: 33^rd edition (2022/2023)  

BBL and BBL HCM’s $76.2 million syndicated loan.

ESR’s $208 million acquisition of a strategic equity stake in BW Industrial.

Swire Group’s acquisition of 100% issued shares of Coca-Cola Indochina from Coca-Cola (Japan).

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."

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.”

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.

Asia Counsel is a small law firm based in Ho Chi Minh City. The firm assist multinationals, private equity funds, financial institutions and large cap Vietnamese companies.

Focusses/ specialisms

The firm has substantial experience in the banking and finance sector. It regularly advises lenders and borrowers on all aspects of loan and financing documentation as well as in relation to securities and security arrangements. Also, the team has an in-depth knowledge and experience of facility agreements and term sheets, banking regulatory matters, as well as security documentation and registration of collateral.

In corporate and M&A, the firm specialises in investment structuring, term sheet/NDA drafting and negotiations, legal due diligence (buy-side and sell-side support), share sale and purchase agreements and shareholder agreements/joint ventures, as well as closing support and assistance with conditions precedents, and post-closing assistance.

Key clients

Key clients include Cathay United Bank, Cerberus Capital, Patamar Capital, Probus Opportunities and Pharmacity Gojek.

Client feedback: 32nd edition (2022/2023)

Banking and finance

"Extremely responsive and hardworking; able to support a very diverse range of transactions."

Private equity

"Responsiveness; knowledge of VN law; commercial approach to doing deals."

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.

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.”

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 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.

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.

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.

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.

Regional firm VDB Loi 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.

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.”

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.

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.”

DL & Partners is a full-service law firm based in Ho Chi Minh City which has established associate firm networks in Singapore, Thailand, Japan and Korea.

Focusses / specialisms

The capital markets team has experience of acting for issuers and underwriters on all types of Vietnam-related securities offering transactions across multiple industries.

In corporate and M&A practice, the firm assists both international and local clients in meeting their legal needs related to their business and investment. It has been handling a wide range of commercial and corporate matters in F&B, e-commerce, retail distribution, real estate, logistics, renewable energy, hospitality, food processing, construction material processing and garment & footwear processing.

Key clients

Key clients include Dai Dung , Macro Kiosk Berhad, Thai Beverage, Trung An Water, Tharocano, Indefol Solar, NTT E-Asia Corporation and Gold Coin Singapore.

Client feedback: 32nd edition (2022/2023)

M&A

"They are good."