Next Generation Partners

Firms To Watch: Corporate and M&A

BD Lawyers & Associates Co., Ltd (BDLAW) is steadily growing a reputation as a strong presence in the Vietnamese market, advising a range of foreign investments and multinational corporations. The arrival of Tran Trong Binh from APFL & Partners Legal Vietnam LLC has added further cross-border expertise to the growing bench of practitioners.

Corporate and M&A in Vietnam

A&O Shearman

Trusted by FTSE 500 global investment firms, leading international energy companies, financial institutions and service providers, A&O Shearman exhibits a pan-Asian and global offering that includes blockbuster, cross-border M&A deals that is complimented by assured regulatory knowledge. An already established player in the growing renewable energy field, the firm has seen a marked increase in mandates pertaining to education, retail and consumer goods. Team head Duc Tran’s far-reaching proficiency is especially concentrated in public company deals, leveraging strong banking and financing market expertise. Tina Ledinh has demonstrated activity in the financial services, consumer goods and the food and drink sectors, regularly trusted by foreign investors, while Hai Ha continues to handle complex M&A and joint venture deals. Hoang Minh Nguyen is another figure of note due to his supporting role on matters and knowledge of the regulatory landscape.

Practice head(s):

Duc Tran

Other key lawyers:

Tina LeDinh; Hai Ha; Hoang Minh Nguyen


‘Timely and prudent assistance.’

‘Hai Ha provides pragmatic and commercial advice to clients navigating the Vietnamese legal framework.’

Key clients




Sumitomo Corporation

Everest Education


Indorama Ventures Public Company Limited


Work highlights

  • Advised JERA on its acquisition of an equity interest in Vietnam-based Gia Lia Electricity Joint Stock Company, a renewable energy platform listed on the HOSE.
  • Advised a global private equity fund on its acquisition of a Vietnamese education platform.
  • Advised Pharmacity Pharmacy Joint Stock Company on a number of capital raises, including the latest in early 2023.

Frasers Law Company

Frasers Law Company continues to act for an impressive array of clients on premium, multi-billion dollar M&A deals, divestments, joint ventures and large-scale restructurings – with the ability to act on the pre-deal investigation through to the due-diligence, review, SPA negotiation, and financing aspect. Leveraging corporate, competition and data protection expertise, the team comfortably excels in a range of sectors, most notably manufacturing, energy and retail. Mark Fraser leads the the group’s most consequential M&A deals, including working closely with foreign investment managers and venture capitalists engaging with the region, while Justin Gisz has been active across banking and financing, supply chain and logistics and energy deals, regularly supported by senior associate Ho Thuy Ngoc Tram who demonstrates notable proficiency regarding banking and finance. Senior associate Nguyen Mai Phuong has been largely focused on energy deals.

Practice head(s):

Mark Fraser; Justin Gisz

Other key lawyers:

Ho Thuy Ngoc Tram; Nguyen Mai Phuong


‘Frasers’ lawyers have in-depth knowledge of business activity to provide short and prompt advice.’

‘I am impressed by their down-to-earth advice and efficiency.’

‘On the ground, they have local expertise in Vietnam with multilingual staff. Frasers support international companies wishing to do business in Vietnam by providing the local legal and cultural context.’

‘Mark Fraser was easy and professional to work with. Mark was able to explain the local laws and regulations and how they would apply to our business in Vietnam.’

‘Provided business-practical advice and strong in local Vietnamese regulations and law.’

‘Frasers Law offers extensive and diverse services in corporate and M&A, both in Vietnam and other countries in the region. They have the unique ability to provide expertise covering local and international M&A requirements and the associated legal requirements.’

Key clients

Abn Amro Bank N.V., Coöperatieve Rabobank U.A. And Hsbc Continental Europe


Bacardi Vietnam


Pandaw Group

Lineage Logistics

Pt Medco Energy International

Ptt Public Company Limited

Qualitas Medical Group Sdn Bhd

Quanta Computer Inc.

Skyx Solar Jsc

Sojitz Corporation

Stark Corporation

Timo Digital Bank

Totalenergies Renewables Sas


Work highlights

  • Acted as lead and Vietnam counsel to Timo on the successful conversion into shares of its pre-series A convertible loan funding.
  • Acted for SkyX Solar on its successful acquisition of a n extensive portfolio of solar project assets in Vietnam.
  • Acted for SkyX Solar in the successful completion of the extensive list of conditions subsequent to the sale of a majority stake in its holding company to EDF Renewables.


VILAF exhibits a strong corporate offering, acting across a wide array of sectors on multi-billion dollar deals from both the buyer and seller side, landmark joint venture partnerships, and restructurings in the wake of investments from both regional and international capitalists. Over the past twelve months the firm has been able to add a stellar list of clients to an already impressive portfolio, including Vietnamese Pharmaceutical giants, leading continental energy players, and multinational private equity firms. Team head Duyen Vo Ha is singled out for her work regarding financial services and energy clients, with recent matter highlights including vast cross-border acquisitions and mergers. The similar skill set of fellow co-head Anh Dang ensures he is frequently sought out by a host of clients for his expertise pertaining to a number of strategically-significant deals. Phong Tran is another practitioner of note, possessing strong banking and capital market acumen to competently advise on complex regional and international transactions.

Practice head(s):

Duyen Ha Vo; Anh Dang

Other key lawyers:

Phong Tran


‘Organised and professional team with vast experience in Vietnam’s M&A transactions. They have provided useful guidance to plan our project’s timeline and execution.’

‘Highly ambitious team. All questions were answered in a knowledgeable way and the team always helped to find workarounds to barriers.’

‘Anh Dang is highly experienced and an outstanding M&A lawyer. Very clear and down-to-the point communication.’

Key clients

Clayton, Dubilier & Rice

Owners of MERAP Group

Sojitz Corporation and Vietnam Livestock Corporation JSC (a subsidiary of Vinamilk)

Japan Petroleum Exploration Company Limited (JAPEX)


TMMC Healthcare

SVP Worldwide

Cinven Discovery Purchaser Corporation

Shiseido Company Limited

Lone Star Funds

Warburg Pincus Asia LLC

Mitsui & Co. Ltd.

Denham Capital/Nexif Energy

GEODIS International

Work highlights

  • Advised Cinven Discovery Purchaser Corporation in the US$2.6 billion acquisition of Bayer’s Environmental Science Professional business.
  • Advised Clayton, Dubilier & Rice in the US$2.2 billion acquisition of the tax and immigration business in Vietnam from PwC.
  • Advised Shiseido Company Limited in the transfer of their personal care business to K.K. Oriental Beauty Holding worth US$1.5 billion.


YKVN has a deep bench of practitioners who advise on a wide array of corporate matters, including both public and private M&A, disposals, joint ventures, and business restructurings. The team is notably active in advising funds, strategics and global brands on deals and partnerships across a variety of sectors, with a strong track record in consumer finance, retail and energy over the past twelve months. Group head Truong Nhat Quang is one of the market's most esteemed practitioners, leveraging more than 20 years' experience overseeing premium deals and possessing an astute knowledge of banking, capital markets, and M&A. Diep Hoai Nam routinely covers transactions of large state-owned companies, and is an accomplished adviser in the oil and gas and pharmaceutical industries. Counsel Nguyen Van Hai is building a well-regarded reputation for her capital markets expertise, while Nguyen Thu Hang has added a range of deals involving global private equity investors to an already impressive portfolio of matters over the past twelve months.

Practice head(s):

Truong Nhat Quang

Other key lawyers:

Diep Hoai Nam; Nguyen Van Hai; Nguyen Thu Hang


‘The team we worked with provided fluent bilingual support. Helpfully, for our cross border transaction, they also possess practical, international legal experience.’

‘We greatly appreciated the team’s sound legal expertise in pushing for our position during the long negotiation sessions.’

‘Strong legal expertise coupled with deep understanding of local Vietnamese business operating environment.’

‘Strong work ethic, can-do attitude and keen commercial sense.’

‘YKVN have good breadth and depth of expertise across different areas.’

‘Truong Nhat Quang is the doyen of M&A advice in Vietnam, trusted by the nation’s most prominent corporate clients for his consistently strong transaction structuring and problem-solving skills. He is respectful and humble, despite his vast experience. Having him on the same side of the transaction gives clients and other advisers great assurance that all legal and regulatory aspects will be addressed to the highest standard.’

‘YKVN has a professional team to advise us throughout the entire stage of the deal process.’

Key clients

Swire Group


Advent International

Capgemini SE

Vietnam Prosperity Joint Stock Commercial Bank (VPBank)


Allens is active on the full range of corporate deals in the region, fielding a client list featuring investment and asset management powerhouses, luxury fashion and retail brands, and financial services and institutions. The key market distinguisher for the firm is its top-rate counsel to innovative start-ups in this fast-growing space, helping these clients with fundraising endeavours and advising on M&A transactions. The practice has a ‘network of experts in multiple areas’ that provide a ‘dedicated and proactive approach’, including team head Linh Bui who is revered for her banking and finance proficiency. Joining Bui at the helm of the group is Giles Cooper, who’s chiefly recognised for his energy focus and work creating new business arms and corporate spin-offs, and Ngoc Anh Tran who was promoted to partner in July 2022, and is a go-to for private equity investors and international investment banks.

Practice head(s):

Linh Bui; Giles Cooper; Ngoc Anh Tran


‘Very professional team with full support even after working hours.’

‘Very proactive and fast pace, providing clear solutions with actionable advice.’

‘Excellent understanding of local law, and how it interacts with international contracts. Good insight into precedents and how local regulators perceive issues. Very good language skills, which is critical in cross-border deals.’

Key clients

International Finance Corporation (IFC)

Temasek, Seatown and Lombard

Bank of Ayudhya Public Company Limited (BAY)

Trusting Social



Open Space Ventures (OSV) and Vietnam Investment Group (VIG)

Tiffany & Co


Kasikornbank Public Company Limited (KBank) and Kasikorn Vision Company Limited (KVision)

National Australia Bank

Various multi-national companies

Work highlights

  • Advising International Finance Corporation on its investment in various Vietnamese companies.
  • Advising leading international investors in their acquisition of minority stake in restaurant chain Golden Gate.
  • Advising BAY on Vietnamese legal aspects of the acquisition by BAY of the finance company SHB Finance from owner Saigon-Hanoi Commercial Joint Stock Bank.

Baker McKenzie

Working with some of the largest consumer packaged goods, pharmaceutical, and data and technology companies, Baker McKenzie’s highly experienced team engages in high-profile public and private M&A, regularly cross-border, and possess the regulatory and operational expertise to act on the full range of corporate issues. Key work highlights demonstrate notable excellence regarding high-profile corporate spin-offs, multi-billion US dollar sales, and internal reorganisations and business carve-outs, as well as continued strength regarding energy and real estate transactions. Yee Chung Seck and Lan Phuong Nguyen co-lead the practice, with the former highly regarded for his broad and far-reaching M&A prowess, and the latter her pharmaceutical, retail and energy work. Special counsel Thi Thanh Le supports many of the firm’s cross-border mandates, including investment, divestment, and cross-border ventures, while senior associate Chi Hoang Yen Ngo has had a strong year supporting a wide array of the department’s most standout matters.

Practice head(s):

Yee Chung Seck; Lan Phuong Nguyen

Other key lawyers:

Thi Thanh Le; Chi Hoang Yen Ngo


‘The Baker McKenzie team combines local knowledge with an international mindset, providing tailored and pragmatic advice for us as a foreign client.’

‘Yee Chung Seck and Thi Thanh have guided us through a local transaction. Chung’s international M&A experience was very useful, and Thanh’s local knowledge helped to smoothen the process. Both have an excellent command of the English language, which is a prerequisite for our choice of law firm.’

‘The team turns things around very quickly, are meticulous, and can be relied upon to get things done.’

Key clients

EDPR Sunseap Group

Navis Capital Partners

UOB Venture Management Pte. Ltd.

VinaCapital Ventures


Wilbur-Ellis Holdings, Inc.

Work highlights

  • Advised EDPR Sunseap Group on its acquisition of two solar PV projects from Xuan Thien Group, a leading renewable energy developer in Vietnam.
  • Acted as a leading legal consultant for Navis Capital Partners, an Asia-based private equity firm, on its USD100 million investment in Dan-D Foods Group, a leading Canada-headquartered producer of healthy nut snacks, which has its core sourcing and processing facilities located in Vietnam.
  • Represented UOB Venture Management Pte. Ltd. in its Series B investment into Buymed Pte., a Singapore-registered health-tech company. Following the lead of UOB Venture Management Pte. Ltd. with USD28 million, Buymed has successfully secured USD33.5 million in the Series B funding round.

DFDL Legal & Tax

A firm that has witnessed a wave of internal promotions including partnership for both Dave Seibert and Paul Volodarsky in January 2023, DFDL Legal & Tax possesses a strong and experienced bench that has a wide sector breadth and engages with a number of premium domestic and cross-border deals across the Southeast Asian region. Beyond continued distinguished work in the energy sector, the team is a go-to for aviation expertise as well as telecommunications, manufacturing, real estate, and finance-related corporate issues. Spearheading the practice is Jérôme Buzenet, whose banking and capital markets knowledge ensures he is a regular port of call for the group’s growing list of longstanding multinational platform investor clients. Both Martin Desautels and PhongAnh Hoang possess broad practices and have been engaged in a variety of foreign investment deals, whereas Kevin Hawkins is principally noted for his acumen regarding energy and infrastructure assets.

Practice head(s):

Jérôme Buzenet

Other key lawyers:

Martin Desautels; PhongAnh Hoang; Kevin Hawkins; Dave Seibert; Paul Volodarsky; Hanh Tran


‘I have worked with DFDL Vietnam for many years now and regularly recommend them for their knowledge of the market and responsiveness.’

‘Jérôme Buzenet and Hanh Tran are well known and regarded practitioners. They are both responsive, personable and easy to work with.’

Key clients

Banpu Public Company Limited

Sunseap Commercial & Industrial Assets (Vietnam) Co. Ltd (matter #3)

RATCH Group Public Company Limited

DIF Capital Partners

Aker Horizons

Decowraps Holdings

Work highlights

  • Assisted Banpu in relation to acquisition of 100% equity of two renewable energy vehicles to own 2 operating solar power projects of 35MWp in Ninh Thuan province and 15 MWp in Gia Lai province, Vietnam.
  • Assisted Aker Horizons AS, a leading Norwegian planet-positive investment company, on its acquisition of a 75% stake in Mainstream Renewable Power, a leading Irish independent renewable energy company in the onshore/offshore wind and solar power sector with operations in Europe, Africa and Southeast Asia.
  • Assisted DIF Capital Partners, a leading global independent investment manager, on its minority stake acquisition in Qair Group, an independent producer of renewable energy and a renewable energy project developer.

Duane Morris Vietnam LLC

Duane Morris Vietnam LLC is roundly praised by clients for its profound legal knowledge, attracting foreign investment instructions from a multitude of regional and continental players, as well as transatlantic conglomerates. The team handles a considerable volume of public and private M&A in addition to land and development site acquisitions, capital restructuring and financing, joint ventures, and the full regulatory piece. Sector engagement over the past twelve months has been largely centred on manufacturing, healthcare, TMT, hospitality, and energy. Nguyen Thi Lang and Oliver Massmann co-lead the practice, with the former well regarded for her adeptness in corporate governance, foreign investment, and competition law, and the former for his renewables, utilities, and digital infrastructure transactional knowledge. Hoang Minh Duc is an integral adviser to the firm’s growing list of start-ups, working on both the fundraising and investment side.

Practice head(s):

Nguyen Thi Lang; Oliver Massmann

Other key lawyers:

Hoang Minh Duc


‘Duane Morris Vietnam has provided our company with the best quality of professional legal services which is a combination of factors including listening to our needs, fully understanding our intentions, requirements and strategy.’

‘Nguyen Thi Lang is an outstandingly experienced attorney with excellent academic qualifications. She makes us impressed in her practice areas to give us valuable advice from legal perspective and practical perspective with her, amongst other, negotiation skills, creative initiatives and problem-solving skills.’

‘‘The team is super talented with impressive teamwork skills. Duane Morris Vietnam has consistently stayed ahead of the ever-changing legal landscape within the market industry.’

‘Nguyen Thi Lang is not only professional, thorough, and patient, but she is a skilled negotiator. I would undeniably recommend Nguyen Thi Lang and unequivocally state that I will continue to seek her services for the coming years.’

‘The entire team comprise individuals who are the experts in the country in the field of corporate and M&A. Working with Duane Morris Vietnam is a good choice for our business operation in Vietnam.’

‘We have the opportunity of working with Nguyen Thi Lang who is especially impressive to us and indeed we choose Duane Morris given that we trust her management.’

Key clients

Bayer Vietnam

GAW NP Capital


A.P.U Educational Company Development

Work highlights

  • Advised Bayer Vietnam on various legal matter relating to their business in Vietnam, including M&A activities.
  • Assisted GAW NP Capital with its acquisition of target land and development of the construction of ready-built-factory in the economic zone in Northern Vietnam.
  • Assisted Saint-Gobain in relation to various major and important M&A and corporate projects in Vietnam. SGV VICO Project is one of the major and important projects for Saint-Gobain involving the acquisition of the state-of-art gypsum manufacturing facilities in Quang Tri province, the Central of Vietnam.

Rajah & Tann LCT Lawyers

Rajah & Tann Singapore LLP acts on a range of corporate and commercial matters, including cross-border buyer and seller transactions, significant restructuring deals, and regulatory issues concerning high-end real estate and construction projects, an area which practice head Vu Thi Que has strong expertise and is regularly called upon for counsel by pan-Asian investors. Minh Duc Trinh works on some of the firm’s most consequential client relationships, including food and beverage moguls and internationally acclaimed tech start-ups, while Logan Leung is a key figure in the practice for his financing activity and has spearheaded a number of matters. Nguyen Dinh Nha is another practitioner of note and provides commendable corporate compliance and banking knowledge to deals.

Practice head(s):

Vu Thi Que

Other key lawyers:

Trinh Minh Duc; Logan Leung; Nguyen Dinh Nha


Provide comprehensive advice.’

Key clients

The Coca-Cola

Richemont Group

Keppel Logistics Pte. Ltd

Kao Corporation

Itochu Corporation

Marubeni Corporation

Volvo Car Asia Pacific

Giant Group

Core Pacific Group

Avery Dennison

Work highlights

  • Advised the teams of The Coca-Cola and Coca-Cola Vietnam on various legal matters of the transaction, from advising on deal structure, reviewing and negotiating of the transaction documents, and assisting in the closing as well as advising on merger filing in the Vietnam jurisdiction.
  • Assisting Richemont Group in advising on business and investments models in Vietnam and provide assistance in various legal sectors to Richemont, such as advising on market access analysis and legal assessment, advising on investment structure, property leasing, data privacy, employment and customs matters and other contractual matters.
  • Acted as counsel for the client in its sale of capital contribution in Indo-Tran Keppel Logistics Vietnam Company Limited which is the first joint venture company operating in logistics service in Vietnam.

Tilleke & Gibbins

A leading player in the corporate formation and licensing space, Tilleke & Gibbins assists established businesses and start-ups to navigate the Vietnamese market through experienced practitioners and a strong regulatory proficiency underpinning advice. Beyond this area of work, the team are active on cross-border M&A, joint ventures, and corporate restructuring mandates, with notable excellence in the life sciences, pharmaceuticals, energy and consumer goods and retail sectors. Managing director Thomas Treutler leads the team and has a broad practice, including advising on foreign investment and regulatory requirements for market entrants. Kien Trung Trinh has a wide sector focus and boasts a strong year liaising with multinational corporations and service providers over the entire transactional piece. Experienced practitioner Nguyen Ngoc Bich Tram joined the group from YKVN in November 2022, bringing a wealth of expertise in M&A, capital markets, and property-related directives. Vinh Quoc Nguyen left the practice in February 2023 to join Indochine Counsel as senior counsel.

Practice head(s):

Thomas Treutler; Tram Ngoc Bich Nguyen; Kien Trung Trinh


‘The T&G team in Vietnam is pragmatic and understands the intricacies of running a business in the Vietnamese market.’

‘Kien Trung Trinh is a no-nonsense practitioner, who is focused on getting the job done efficiently and fairly. The approach is results-oriented and pragmatic.’

Key clients


Crown Equipment


FMC Corporation

Invisalign/Align Group

Jabil Circuit

Johnson & Johnson


Merck Sharp & Dohme


Work highlights

  • Serving a secondment at Invisalign Vietnam to fill the role of in-house counsel and assist their regional counsel with all legal matters in Vietnam.
  • Serve as lead external counsel on all legal matters in Vietnam for MSD, providing daily advice on corporate licensing, drug advertisement, sales promotions, changes in the pharmaceutical law and their impact on MSD’s business, etc.
  • Assisted a global power and renewable energy business with legal due diligence into eight different energy companies/projects in Vietnam for all aspects of the project companies which revealed certain critical issues related to land, compliance with environment laws.

ACSV Legal

ACSV Legal is particularly strong in the healthcare sector, advising clients on buyer and seller instructions, establishing new outlets in the country, transferring assets, and navigating the heavily regulated sector. The team is well-accomplished in foreign investment and cross-border transactions, as well as joint ventures, corporate restructuring, and financing. Founder, managing partner and team head Mark Oakley handles an intensive stream of multi-jurisdictional deals for a range of international clientele, showcasing wide-sector expertise and an ability to competently handle the transactional, financing and regulatory piece. Special counsel Hieu Pham is chiefly recognised for his cross-border and foreign direct investment expertise, while special counsel Thang Nguyen lends proficient understanding of banking and financing to deals in the hospitality, retail, energy and manufacturing sectors.

Practice head(s):

Mark Oakley

Other key lawyers:

Hieu Pham; Thang Nguyen


‘ACSV Legal has a skilled team of lawyers with good legal, technical knowledge and great commercial awareness. They can timely provide practical legal advice and closely communicate with clients.’

‘The team’s strength lie in providing practical solutions and being responsive. Their support plays an important role in our business expansion in Vietnam.’

‘The team is led by Hieu Pham who is very responsive.’

Bizlink Lawyers

A key point of differentiation for the team at Bizlink Lawyers and a flagship component of the group’s work is real estate and manufacturing sector engagement, handling a steady stream of multi-jurisdictional deals for a mix of leading industry players. Due diligence, regulatory, and document drafting and negotiation expertise underpins a a considerable volume of the domestic and cross border deals the team routinely engages with, and additionally the group boasts close connections to a number of Vietnamese public bodies and authorities. Leveraging over thirty years of market experience, Do Trong Hai remains an eminent cross-border and foreign direct investment advisor and is highly proficient at an array of associate practice areas such as real estate, tax and corporate governance that benefits clients’ business transactions. Nguyen Duc Manh and Tran Thi Ngan are two further key figures in the team whom preside over the full range of corporate work, particularly in the materials and manufacturing industry, while senior associate Nguyen The Vinh played leading roles in a number of real estate and construction mandates, working with both domestic and foreign developers. Associate Le Quynh Anh is recognised for her contributions supporting an array of matters.

Practice head(s):

Do Trong Hai; Nguyen Duc Manh; Tran Thi Ngan; Nguyen The Vinh; Le Thi Hong Van; Ha Thi Mai Anh

Other key lawyers:

Le Quynh Anh

Key clients

Singapore Super Hi Dining Pte. Ltd.

Hitachi Energy Vietnam Limited

Kinderland International Education Pte Ltd

China Harbour Engineering Company Limited (Vietnam)

Maison Retail Management International

Chemical Trading Vietnam Co., Ltd

Ufinity Pte Limited

Phan Vu – Van Tuong Investment Joint Stock Company

Ford Vietnam Company Limited

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)

Citra West Lake City Development Company Limited

Sunrise Vietnam Textile Joint Stock Company

Eurowindow Holding Joint Stock Company

Fortuna Hanoi Hotel Limited

Saint – Gobain Vietnam Limited and other subsidiaries of Saint-Gobain Group in Vietnam

KDV Joint Stock Company

Rorze Robotech Company Limited

Vietnam Auto Parts Company Limited

ITECO Joint Stock Company

Chinfon Cement Corporation

Ecopark Group Joint Stock Company

Westlake View Real Estate Limited Liability Company

Taisei Corporation (Japan)

International Centre Ltd. (a BVI – Vietnam JV under Vinacapital Group) Gerard Seah& Co

Bai Tho Corporation

Vietnam Satellite Digital Television Company Limited

Work highlights

  • Conducted legal due diligence for Haidilao Viet Nam and prepared required documents for the spin-off and listing process of Super Hi Dining Pte.Ltd – subsidiary of Super Hi International Ltd. of Haidilao International Holding Ltd. on Hong Kong Stock Exchange.
  • Advised Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on transferring a complex project to other developer.
  • Advised Citra Westlake City Development Company Limited on transferring a complex sub-project with total investment value of over USD 53 million to other developer.

Hogan Lovells International LLP

Possessing broad and deep links to the Asian continent that supplement the group’s Vietnam-based practitioners expertise, Hogan Lovells International LLP regularly receive instructions from publicly listed international corporations for buyer and seller, divestment and restructuring mandates. Over the past twelve months the group has seen increased stream of premium debt restructuring and insolvency mandates as well as helping Vietnamese tech business and start-ups navigate the heavily regulated offshore fundraising space. Gaston Fernandez spearheads the team’s offering and combined transactional prowess with expert knowledge of cross-border financing and project development. Counsel Ngoc Nguyen is steadily building a strong cross-border profile and has wide sector exposure including fintech, manufacturing, and retail. Counsel Duong Pham is recommended for his strong banking and financing competence, especially in the energy and infrastructure space.

Practice head(s):

Gaston Fernandez

Other key lawyers:

Ngoc Nguyen; Duong Pham


‘Excellent grasp of local regulations, legal frameworks and the ability to explain clearly the consideration for foreign investors.’

‘Ngoc Nguyen is highly responsive, always clear on the legal guidance whilst highlighting the practical considerations for foreign investors in Vietnam.

Work highlights

  • Acting as counsel for an ad hoc group constituting a supermajority of bondholders of the US$300 million Convertible Bonds due 2026 issued by Novaland on the potential restructuring of the terms.

Lexcomm Vietnam LLC

Lexcomm Vietnam LLC has a team of practitioners well-versed in cross-border M&A, frequently advising on inbound and outbound foreign investments, as well as business acquisitions by pan-Asian and transatlantic entities. Beyond this area of work, the group has strong regulatory expertise that underpins corporate formation and reorganisations, as well as IPOs and joint ventures. Head of M&A Nguyen Viet Ha is a seasoned practitioner that has particular expertise regarding energy and infrastructure assets, and is highly competent in handling clients’ sizeable foreign investment projects. Both Luong Van Trung and Nguyen Hong Hai possess similar cross-border proficiencies, with the latter also well-regarded for his capital markets and financing work, and the latter for his joint venture, corporate governance and compliance acumen.

Practice head(s):

Nguyen Viet Ha

Other key lawyers:

Luong Van Trung; Nguyen Hong Hai


‘Responsive, good client service, and good negotiation skills.’

Key clients

BP Singapore Pte. Ltd.

SK Ecoplant

PTT Global Chemical

BlackRock Renewable Energy Group

DP World

Nghi Son Refinery and Petrochemical LLC (NSRP)

Eni Vietnam B.V.

Hibiscus Petroleum Bhd

Harbour Energy

Japan Petroleum Exploration (JAPEX)

Scoular Vietnam

GreenYellow Vietnam

AC Renewables International

Viet Nam Australia International Education Corporation

Mutosi Group Joint Stock Company

Nexif Energy Management Pte Ltd

Noibai Express and Trading Joint Stock Company

TMS Group

Inspired Education Holdings Limited

Just Kids Education and Entertainment Joint Stock Company

Edufit Education Joint Stock Company

Long Thanh Golf Investment and Trading Joint Stock Company

An Phat Holdings

Qiming Venture Partners

Work highlights

  • Advising Nexif Energy on the structuring and documentation of the Vietnam hydropower acquisition.
  • Advising key individual shareholders of VAS to successfully divest their shares to a subsidiary of US-based private equity firm TPG Capital.
  • Advising Mutosi on $14m investment from a strategic investor.

LNT & Partners

LNT & Partners is a frequent port of call for many financial institutions, investment platforms and multinational conglomerates seeking legal counsel regarding their Vietnamese and pan-Asian deals that often reach billions of euros in value. The team is geared to act on the full array of corporate issues, including M&A, financing and banking, and regulatory issues, and shows notable strength in the energy, transport and manufacturing sectors. The practice led by three team heads, all who have considerable market experience. Co-founder Quyen Hoang is a go-to for foreign investment deals, while Tuan Nguyen is noted for his work on premium mergers and joint venture enterprises. Final team head Hong Bui is a pure M&A specialist, handling the group’s most consequential client acquisitions.

Practice head(s):

QuyenHoang ; Bui Ngoc Hong; Tuan Nguyen

Key clients


PETRONAS Chemicals Group (PCG)

LX International Corp

Hitachi Rail

ZF Friedrichshafen AG, HELLA, NGK Spark Plug, Clarios

SMBC Aviation Capital

Viet Capital Securities JSC

Work highlights

  • LNT & Partners advised a dairy manufacturer in Vietnam, on an equity investment of USD 100m from Growtheum Capital Partners.
  • LNT advised SMBC in obtaining merger clearance for a merger with Goshawk Management Limited.

Mayer Brown

Mayer Brown is a popular choice for investment managers, energy players and pharmaceutical companies, boasting strong cross-border expertise and multijurisdictional understanding. The group has engaged with a list of enviable clients over the past year, including government-backed investment funds, global financial institutions, and multinational food and beverage brands. Team head David Harrison is a cross-border M&A specialist, and is recognised for his distinguished expertise advising on the buying, selling and financing of assets in emerging markets. Counsel Hai Thao Nguyen has been notably active on real estate and infrastructure deals, while senior associate Ursula Szotyory-Grove has supported a range of mandates, including standout joint venture fund investments.

Practice head(s):

David Harrison

Other key lawyers:

Hai Thao Nguyen; Ursula Szotyory-Grove


‘What stands out is their sheer experience and knowledge in dealing with such a range of issues facing investors.’

‘David Harrison stands out from the crowd; his language, legal knowledge and commercial acumen is second to none.’

Key clients

Chubu Electric Power Co., Inc.

Brawn Capital Management

SEKO Logistics

DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)

Hillhouse Capital Management Ltd.


TR Capital

Leapfrog Investments

Standard Chartered Bank

San Miguel Foods, Inc

John Swire & Sons Pty Ltd.

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO)

Carrix, Inc.

Vietnam Oman Investment

Work highlights

  • Advised Vietnam Oman Investment, a joint venture fund between the governments of Oman and Vietnam, on a US$30 million investment in F88, financial services firm based in Vietnam with its Series C funding round.
  • Advised DEG on an innovative preference share investment in Gia Lai Electricity JSC.

Allen & Gledhill (Vietnam)

A strong twelve months has seen Allen & Gledhill (Vietnam) bolster its bench and consequentially its M&A offering through the hire of partner Tran Ngoc Hoang Phuong from Masan Group in June 2022, who has over 15 years of transactional experience in a number of Asian markets. The team is well-placed to act on corporate issues including joint ventures, corporate reorganisations and leverage buyouts, and have shown sector strength in energy, real estate, manufacturing and transport. Group head Oh Hsiu-Hau is an M&A specialist, especially when concerning emerging markets, while Tran Thi Phuong Thao has a broad practice that is complimented by his considerable regulatory understanding. Another partner of note is Jonathan Lin who is chiefly focused on energy-related PPP mandates and boasts close connections with a number of government bodies and agencies.

Practice head(s):

Oh Hsiu-Hau

Other key lawyers:

Tran Thi Phuong Thao; Jonathan Lin; Tran Ngoc Hoang Phuong


‘The A&G VN team is well-versed with the latest development in the business scene.’

‘Oh Hsiu-Hau is excellent at providing stellar guidance to their clients.’

Work highlights

  • Advising SeaTown Holdings International on its US$50 million investment in OnPoint Holdings Pte. Limited.
  • Advised Leader Energy Ventures Sdn. Bhd., on its acquisition of 100 per cent. of the shares in Vinh Hao 6 Power Joint Stock Company, which operates a 50 MW Vinh Hao 6 Solar Power Plant in Binh Thuan Province, Vietnam from ACWA Power Vietnam Renewables Pte. Ltd., FECON Power Joint Stock Company and FECON Corporation.
  • Advised SP Group on the purchase of 100 per cent of the shares in two project companies which operate two solar farms in Phu Yen Province, Vietnam.

Dilinh Legal

Dilinh Legal’s ‘deep understanding of the complexities’ of corporate issues in the region makes it a strong choice for Vietnamese and foreign investors and businesses seeking counsel on their transactional deals. A team with with a wealth of experience in the market, the practice is equipped to handle a wide array of instructions, including merger filings, loan and corporate restructurings, law and regulation requirements, and sale, purchase and joint venture agreements. Helming high-value cross-border deals for an impressive list of clients, group head Michael Lee is singled out by clients for his M&A expertise, while Diep Hoang leverages extensive banking and finance deals to supplement client counsel. Senior associate Trang Nguyen has played an integral supporting role to a wide array of practice matters.

Practice head(s):

Michael Lee; Diep Hoang

Other key lawyers:

Trang Nguyen


‘Dilinh Legal is highly responsive, offers expert advice and guidance, and builds great relationships.’

‘Michael Lee has taken the time to understand our business and offer very timely and understandable advice.’

‘Their expertise and dedication have been instrumental in achieving successful outcomes for our clients.’

‘Their skill in M&A sets them apart from others in the legal industry. They have deep understanding of the complexities involved in these transactions help us so much.’

Key clients

Ipsen Pharma SAS

Mayoly Pharma

Henkel AG & Co.

Jones and Vining

Phu My Hung Development Company Limited (and other companies of the Phu Hung Group)

One Asia Lawyers (a regional law firm)

Mabuchi Motor Co., Ltd.

Vina ASC Automotive Company Limited (dba Supreme Auto)

United Parcel Service, Inc. (UPS)

Union Underwear (dba Fruit of the Loom)

Work highlights

  • Advised a prominent Japanese company to obtain competition clearance to acquire a car component manufacturing company.
  • Advised a prominent Japanese company purchasing a majority stake in a Vietnamese software company.
  • Advised Ukko Renewable Pte. Ltd on its investment into a 200MW wind project.


DIMAC attracts instructions from a multitude of clients in Vietnam, most notably in the manufacturing, tech and financial sectors, that are routinely backed by foreign investors, and the group often acts on capital raising mandates including the related documentation drafting and compliance advice. Beyond this area of work, the team are highly capable at corporate restructurings, assessing business risk, conducting financing and due diligence work, as well as overseeing transactions. Founder, managing partner and team head Pham Quoc Tuan has a wealth of expertise regarding contracts, M&A and dispute resolution, while Le Thanh Tung excels at helping clients secure loans from banks and capital from foreign investment funds, and is routinely supported by counsel Hoang Thanh Tuan who too shows distinction in this space. Nguyen Danh Cong has a wide practice that includes banking, M&A and corporate restructurings as well as a strong regulatory understanding.

Practice head(s):

Pham Quoc Tuan; Le Thanh Tung; Nguyen Danh Cong

Other key lawyers:

Hoang Thanh Tuan

DNA Vietnam LLC

A firm that handles transactions and project development in the energy sector, DNA Vietnam LLC has a bench of lawyers skilled in both the transaction, regulatory and financing piece, with experience acting on both the buyer and seller side for household names in the Vietnamese market and multinational corporates and investment funds operating from outside the country. Dang Chi Lieu heads the team and is a key contact for foreign investors, possessing expertise in M&A and wide activity in sectors such as manufacturing, education and pharmaceuticals. Fellow co-head Thanh Son Dang has a strong background in TMT and finance, which allows him to competently handle a range of corporates mandates, including impressive work regarding digital infrastructure assets.

Practice head(s):

Dang Chi Lieu; Thanh Son Dang


‘The team is well-organised with an experienced partner and creative, well-educated associates. Looking for a balance between legal and commercial matters, they are highly recommended.’

‘The significant knowledge and experience of the partners benefits the client not only in contracting but also negotiation.’

‘DNA is an outstanding law firm. They have good knowledge and experience in many sectors such as telecoms, renewables, logistics and retail. The team is hard-working and provide prompt response, sincere advice.’

‘I have worked with Dang Chi Lieu on numerous deals, and he never disappoints me. Lieu provided not only in-depth knowledge of the legal aspects, but also the solution for the issues to get the deal done but still protect clients’ businesses.’

Key clients

Sembcorp Solar Vietnam

Gunkul Engineering Public Company Limited

Viettel Global

Coherent Services Vietnam

T&Y Superport Vinh Phuc

Kennametal Vietnam

Bitexco JSC

Fecon Power Joint Stock Company

Viet Nam Viet Renewable Energy

Viet Solar System Company Limited

EQuest Education

Phu Quang joint stock company

Hatay Pharmaceutical

Trina Solar

Kangaroo International Joint Venture Company

Global Schools Holdings Pte. Ltd

Work highlights

  • Advised Sembcorp Solar Vietnam Company Limited on the acquisition of various solar power projects in Vietnam.
  • Advised a local developer on the sale of a 50MW solar farm project in the central region to a foreign investor.
  • Advised an investment fund on the acquisition of two private schools in Hanoi.

KPMG Law in Vietnam

KPMG Law in Vietnam acts on both buyer and seller mandates, cross-border transactions, document drafting and negotiations, regulatory and compliance advice, as well as possessing a strong antitrust offering. The considerable expertise of head of KPMG Law in Vietnam and Cambodia Richard Stapley-Oh ensures the team is routinely sought by multinational corporates and private equity firms for corporate counsel, while Hoa Thanh Nguyen specialises in foreign direct investments and business restructurings. Pham Thi Quynh Ngoc has significant regulatory acumen and has been highly active in the retail, finance, pharmaceutical and manufacturing sectors, while Geraldine Oh, who joined the practice in February 2023 from ZICO Law in Myanmar, brings with her notable cross-border M&A proficiency.

Practice head(s):

Richard Stapley-Oh; Hoa Thanh Nguyen; Nguyen Mai Phuong; Geraldine Oh


‘The team has extensive knowledge and business insights, and their advice and recommendations are business-oriented.’

‘The team is very business-oriented, always available, agile, responsive and capable of finding quick and innovative solutions.’

MHM Vietnam HCMC Office

MHM Vietnam Hanoi Office has steadily established itself as a strong player in the Vietnamese market, acting on public and private M&A for a range of domestic and international clientele. Excelling at real estate, energy and consumer goods work, the group competently handle joint ventures, drafting project documents, and conducting business risk assessments and due diligence. Takuya Eguchi, who leads the team, is especially well regarded for his adeptness in cross-border M&A, and his experience of the Chinese market. Both Nguyen Ngoc Phuc and Kenji Nishio are particularly proficient in large-scale real estate related M&A, with the latter also wielding capital markets and business restructuring expertise. Phan Thanh By is recognised for her M&A work in the manufacturing, real estate and banking sectors.

Practice head(s):

Takuya Eguchi

Other key lawyers:

Nguyen Ngoc Phuc; Kenji Nishio; Phan Thanh Vy

Key clients

Tien Phuoc Real Estate Joint Stock Company

Mizuho Bank, Ltd.

Noritz Corporation

VEMC Land Joint Stock Company

Meidensha Corporation and its Singapore subsidiary, Meiden Asia Pte. Ltd.

Nomura Real Estate Development Co., Ltd

NTT Urban Development Corporation, and its Singapore subsidiary, NTT UD Asia Pte. Ltd

ADK Holdings Inc.

Vietnam Industrial & Logistics Real Estate Fund I

LTQ Group Joint Stock Company

Nha Dat Joint Stock Company

Work highlights

  • Advised GAKKEN Holdings Co., Ltd. to invest in a company engaged in the publication of educational books and software and equipment and providing other educational services.
  • Representing Nomura Real Estate Development Co., Ltd in acquiring 49 per cent of the shares in a major residential development project by Ecopark Corporation in Hung Yen Province.
  • Representing NTT Urban Development Corporation in its first real estate development project in Vietnam, a residential housing project in Bing Duong Province.

Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu acts on a strong portfolio of matters, often with Japan-centric clients that are seeking counsel on their subsidiaries. Cross-border real estate deals are a key feature of the practice, as well as establishing and advising joint ventures and providing insight on market regulations and compliance. Team head Motohisa Nakagawa has been highly engaged with mandates in the construction and manufacturing sectors, while Keigo Sawayama, who has been extremely active over the past twelve months, has received instructions from clients in retail, IT, consumer goods and real estate.

Practice head(s):

Motohisa Nakagawa; Keigo Sawayama


‘They know about our business model very well and have been committed to our business by giving us precise advice to us.’

They have excellent knowledge of Vietnam’s legal system and its operation. The result of due diligence was accurate and satisfying.’

‘Motohisa Nakagawa has played a vital role for us. He is reliable and accessible.’

‘Keigo Sawayama has excellent knowledge of Japanese and Vietnamese legal system.’

Key clients


UT Group Co., Ltd.

Osaka Gas Co., Ltd.

TEPCO Power Grid, Incorporated

Toenec Corporation

Marubeni Corporation

Asahi Kasei Corporation

Work highlights

Nishimura & Asahi

A Japanese firm with deep roots in the Vietnamese market, Nishimura & Asahi regularly receives instructions regarding investment and cross-border M&A in the country, with strong expertise across a wide range of sectors. An enviable client list includes Asian tech giants, multinational conglomerates, and pioneering Japanese corporations. Team head Hikaru Ogachi sits in the department in a consultant role, overseeing and advising across a multitude of practice matters. Vu Le Bang has notable proficiency at foreign direct investment mandates as well as banking and finance issues, whereas Akira Hiramatsu predominantly focuses on M&A.

Practice head(s):

Hikaru Oguchi

Other key lawyers:

Vu Le Bang; Akira Hiramatsu

Key clients

Marubeni Corporation

Sumitomo Corporation

Mitsui & Co., Ltd.

Hitachi Sustainable Energy Ltd.

Lion Corporation

Hankyu Hanshin Properties Corp.

JFE Engineering Corporation

T Capital Partners Co., Ltd.

Mitsubishi Materials Corporation

Samty Co., Ltd.

Yamato Kogyo Co., Ltd.

Work highlights

  • Advised Lion Corporation and performed due diligence and negotiations on its acquisition of shares in MERAP Holding Corporation.
  • Advised T Capital Partners Co., Ltd. and performed due diligence with respect to target group companies in the garment manufacturing and retail business. The target group consists of multiple operating subsidiaries and affiliates in locations throughout Vietnam, with hundreds of outlets and potential business opportunities in Cambodia and the US.
  • Advised TEPCO Renewable Power, Inc. on its acquisition of shares in Vietnam Power Development Joint Stock Company, a Vietnamese operator of hydroelectric power plants.