Firms To Watch: Corporate and M&A

Indochine Counsel advises on M&A transactions, commercial, tax and compliance matters for clients in a broad range of industries.
Allen & Gledhill (Vietnam) was established in October 2020 as part of the firm’s expansion in South East Asia. Under the leadership of Hsiu-Hau Oh, the firm has built a 12-strong team, which covers the entire ambit of domestic and cross-border corporate and M&A work for clients. Its recent mandates spanned areas such as real estate, renewable energy and e-commerce. Tran Thi Phuong Thao and Phan Vinh Nhan joined from Rajah & Tann LCT Lawyers and YKVN respectively.

Firms in the Spotlight Corporate and M&A

BLawyers Vietnam

BLawyers Vietnam logo

Our team of experts do not only have good legal backgrounds and skills but also have business mindset and strong ties to Mergers & Acquisitions (M&A) sector. We have been involved in several corporate transactions in the country, including M&A, de-mergers and re-structures.

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Corporate and M&A in Vietnam

Allen & Overy LLP

Allen & Overy LLP's team distinguishes itself in high-profile, cross-border transactions, with its workload spanning areas such as financial services, food and beverage, real estate and energy. In addition, it is becoming increasingly active in the technology and education sectors. The firm acts for a wide range of clients, including domestic, regional and international corporates, as well as financial institutions. Its work for private equity firms is also on the increase, with practice head Duc Tran at the helm. New York-qualified partner Tina LeDinh, who is experienced in handling inbound and outbound investment transactions on both the buy-side and sell-side, is another name to note.

Practice head(s):

Duc Tran

Other key lawyers:

Tina LeDinh; Hai Ha

Key clients


Baring Private Equity Asia


Sumitomo Corporation

Everest Education

Work highlights

  • Advised KKR on its investment in EQuest Education Group, an education platform in Vietnam.
  • Advised Baring Private Equity Asia on an investment by a consortium led by it and Alibaba in The CrownX.
  • Acted for ESR on its joint venture with BW for the development of an industrial park in Ho Chi Minh City.


Allens has a strong pedigree for advising a wide variety of inbound investors on their investments in Vietnam. Its client roster includes international financial and private equity investors, multinational corporates, bulge-bracket investment banks and regional companies. The firm is often instructed to act as lead counsel on cross-border deals and its alliance with Linklaters enables it to access the firm's global network of experts where required. Linh Bui leads the team, which was strengthened by Giles Cooper's arrival from Duane Morris in March 2021. Associate Ngoc Anh Tran is another key name to note. Bill Magennis retired in 2020.

Practice head(s):

Linh Bui


Team has a lot of experience, best knowledge of the law and market practice. Their advice is accurate and reliable. Their service are very professional and make a good impression on customers.’

Key clients

Affirma Capital

BDA Capital Partners

Dragon Capital

Pavilion Capital

SSI Assets Management

GoJek NoGulf

Energy Development Public Company Limited

Kasikornbank Public Company Limited

Mizuho Asia Partner

Temasek Holdings

Covestro AG

Goldman Sachs

Bayer AG

LG Electronics Mainstream


Work highlights

  • Advised Gojek, on its investment and business expansion in Vietnam

Frasers Law Company

Frasers Law Company has been a well-known name in the market in Vietnam for over 20 years, and it generates work from clients operating in a broad cross-section of industries, such as manufacturing, energy and financial services, among others. Mark Fraser co-heads the practice with Justin Gisz. Under their joint leadership, the group advises on M&A, restructurings, joint ventures, corporate governance issues and merger control. Senior associate Ho Thuy Ngoc Tram is also recommended.

Practice head(s):

Mark Fraser; Justin Gisz


‘Ho Thuy Ngoc Tram – knowledgeable, patient, strategic.’

‘Fraser Law Company provides high quality legal services which help my company to achieve our goals in M&A transactions. This firm provides a comprehensive legal strategy and can lead legal negotiations to meet the expectation of all parties.’

‘Justin Gisz has extensive knowledge in legal matters. He provides a high quality legal advices which not only can identify the risk to our company and also protect the best interest of our company.’

Justin Gisz is really a go-to trustworthy lawyer and always reachable when needed.’

A really responsive and enthusiastic team who know the market well. A pleasure to work with.’

Key clients

Stark Corporation

Timo Plus Digital Bank


Cintana Education Llc

Sojitz Corporation

Ptt Exploration And Production

Nord Anglia Inc

Work highlights

  • Advised Stark Corporation on its acquisition of 100% of Thinh Phat Cables Joint Stock Company and Dong Viet Non-Ferrous Metal and Plastic Joint Stock Company.
  • Acted as leading and Vietnam counsel to Timo Plus digital bank in relation to a number of investment rounds for Vietnam’s first and leading digital banking platform.
  • Acted as leading and Vietnam counsel for VinaCapital in relation to its investment in a $3bn, 3GW LNG-fired power generation project, to be located in Long An province, Vietnam.


VILAF excels in advising foreign investors on their investments in Vietnam, in addition to assisting them with other corporate issues on an ongoing basis. Reflective of the firm's standing in the market, it acts for multinational corporates such as Marubeni and Toyota, as well as major domestic names such as Vingroup. Hanoi-based partner Anh Dang predominantly handles deals in the renewable and alternative energy sector. He co-heads the practice with Duyen Ha Vo, who is based in Ho Chi Minh City, and acts for clients operating in areas such as food and beverage, fintech and retail, among others. Phong Tran is also recommended.

Practice head(s):

Anh Dang Duyen Ha Vo


‘The team is organized and takes extra efforts in explaining local legal requirements. They breakdown the steps for us to follow and guide us to achieve the completion of the agreements.’

Ms. Duyen: her involvement in the negotiations helped the commercial team to better understand the overall situation and find an amicable solution.’

Vilaf has a good corporate and M&A practice and is experienced in dealing with foreign investors. Their lawyers have a good command of English which makes for easy communications with foreign clients.’

Key clients


Marubeni Corporation

B.Grimm Power Public Company

CapitaLand (Vietnam) Holdings Pte. Ltd.

SCG Group

Toyota Tsusho Corporation

Shizen Energy

Petronas International Power


Scatec Solar

Work highlights

  • Advised B.Grimm and DTE on the $360m demerger of Dau Tieng Tay Ninh Solar Power Projects of B.Grimm Power.
  • Advised Marubeni Corporation on its transfer of 10% of equity capital in the BOT Company in 2x600MW Nghi Son 2 BOT Power Project to Tohoku Electric Power.


YKVN is a leading independent firm in the market, known for its expertise in both public and private M&A, as well as private equity transactions and privatisations. Managing partner Truong Nhat Quang, who leads the team, has extensive corporate and M&A experience, which is complemented by his expertise in banking and capital markets. He is supported by Eli Mazur, who has specialism in work relating to the life sciences and healthcare sectors. Vu Dzung is another key name, as is Diep Hoai Nam.

Practice head(s):

Truong Nhat Quang


‘The team is very dedicated and experienced. They also have a great commercial knowledge of the transactions.’

‘Truong Nhat Quang is very calm and knowledgeable.’

Key clients

Masan Group Corporation


Apollo Global Management, Inc

China Huadian Engineering Corporation Ltd. (“CHEC”)

Transcendental Human Resources Joint Stock Company

Heliconia Capital Management Pte. Ltd.

Macquarie Capital

UOB Group

Truong Thanh Viet Nam Group Joint Stock Company (TTVN)

Work highlights

  • Advised VPBank on its sale of 49% of the contributed capital (equity interest) held by VPBank in VPBank Finance Company Limited.
  • Advising MBK Partners on the transfer of its shares in Apex International Corp to Swiss logistics firm Kuehne & Nagel.
  • Advised Appollo Global Management on its acquisition of Showa Denko K.K through a series of transactions.

Baker McKenzie

Baker McKenzie works on corporate transactions and investments, with a diverse client base spanning the healthcare, TMT, logistics, manufacturing and real estate sectors, among others. Yee Chung Seck undertakes a mix of M&A, commercial contracts and regulatory work, with a particular emphasis on e-commerce, IT services and healthcare. He jointly leads the team with Lan Phuong Nguyen, who has over 20 years of experience handling M&A and foreign direct investment transactions in Vietnam. Special counsel Eddie O’Shea joined from Hogan Lovells International LLP.


‘Vietnam is one of the more complex jurisdictions in the region. The team is able to help us navigate through these challenges through their ability to explain the issues on hand and providing practical solutions.’

‘The team is highly competent and experienced. Puts in the effort to understand client’s business operations, culture and expectations and work with it. I particularly like how they are able to break down the issue on hand into bite size chunks and offer practical solutions. Advice is always concise and easy to understand.’

‘The team has assisted us with frontloading regulatory issues, highlighted risks, and proposed commercial and solution-based approaches so that each deal can be structured appropriately, experiencing productive negotiations and overcome legal challenges.’

‘The corporate M&A team is able to provide competitive capped fee quotes for transactions and accommodative to keep fees as close to the cap as possible.’

‘Knowledgeable on the regulatory requirement and market practice.’

‘The Baker McKenzie team in Vietnam is very responsive to client requests. This is especially appreciated in a country like Vietnam where the laws, practices and customs are not as well-known as in some other countries. The BM Vietnam team was often able to propose timely and pro-business solutions.’

Key clients

SCG Packaging Public Company Limited

Work highlights

  • Advised SCG Packaging Public Company Limited, the packaging arm of Siam Cement Public Company Limited, on the acquisition via 100% share purchase, of Go-Pak UK Limited.

DFDL Legal & Tax

DFDL Legal & Tax’s team undertakes corporate work across a wide range of industries, such as telecoms, renewable energy, retail, insurance and manufacturing. In addition to having an on-the-ground presence in Vietnam, the company also has other offices across Southeast Asia, making it well placed to handle cross-border deals in the region. Managing director Jérôme Buzenet leads the team, and is noted for his experience of M&A and private equity transactions. Deputy managing director Hanh Tran is also highly recommended. Kevin Hawkins joined from ZICO Law in January 2021.

Practice head(s):

Jérôme Buzenet


Multi-country law firm that has a good combination of strong local lawyers and foreign lawyers who also have vast experience in the region, able to handle complex M&A transactions as well as assist with corporate matters, employment matters, etc.

Availability and accessibility of the partners, in particular Jérôme Buzenet and Hanh Tran, were crucial to get the deal across the line. Both are excellent at disseminating complex and sensitive matters and offer practical advice on how to address them.

Key clients

Azelis S.A.

Manulife Financial Asia Limited

Probus Opportunities

Aker Horizons

Goodwater Capital

Work highlights

  • Assisted Azelis with acquisition of a family owned group of companies in the same business in Vietnam and the Philippines.
  • Advised a Singapore-based entity of Manulife on the proposed acquisition of Aviva Group, a Vietnamese life insurance company, and the formation of a long-term bancassurance distribution partnership with Vietinbank.
  • Assisted Aker Horizons with purchase of 75% stake in Mainstream Renewable Power, a Norway company which is developing a large-scale offshore wind power generation project in Vietnam.

Duane Morris Vietnam LLC

In a key development at Duane Morris & Selvam LLPNguyen Thi Lang was promoted to chair of the Vietnam offices, becoming the first chairwoman of an international law firm in the country. She also co-heads the corporate team with Oliver Massmann. Lang, who is is based in Ho Chi Minh, has a wealth of experience advising multinational, foreign and domestic companies. Her work spans M&A and inbound investment transactions, as well as commercial work. Massmann, whose practice is split between the Hanoi and Ho Chi Minh City offices, has over 20 years of experience working as a commercial lawyer in Vietnam. Giles Cooper joined Allens.

Practice head(s):

Nguyen Thi LangOliver Massmann

Other key lawyers:

Pham Bach Duong; Hoang Minh Duc


‘Very prompt turnaround with commercially-practical advice.’

‘Our company needed a law firm that would handle and resolve our matters and issues quickly, efficiently and effectively. Duane Morris proved assertive, comprehensive and strategic. Their services are provided with effective communication skills and creativity, knowledge and responsibility.’

‘Duane Morris’ assistance with our investment projects allowed us to expedite the process in a fair and equitable manner for all involved parties.’

‘Duane Morris team is very responsive and prompt in responding to their client. They delivered their services to their client punctually.’

‘Nguyen Thi Lang is extremely good at client service. She is very responsive and available to discuss 24/7. Lang has a great commercial mindset. Whenever she advised her client, she put herself in the client’s shoes.’

Their profound knowledge of corporate and M&A, timely responses, useful advice, and efficient works always help us to achieve what we want in the most protective way possible.’

Key clients

City Garden

Saint Gobain

A.P.U Educational Company Development

Monsanto Singapore Co (PTE) Ltd/Bayer

Hydro Extruded Solution AB

Dentsu Inc. Group

Fujitsu Computer Products Vietnam

Bayer Vietnam

Montana AS Beteiligungs Holding AG

City Garden

Saint Gobain

A.P.U Educational Company Development

Monsanto Singapore Co (PTE) Ltd/Bayer

Hydro Extruded Solution AB

Dentsu Group Inc.

Fujitsu Computer Products Vietnam

Bayer Vietnam

Montana AS Beteiligungs Holding AG

Work highlights

  • Advised A.P.U, an educational development group with 100% foreign-owned company in Vietnam, on selling all of its ownership interest in its K-12 school in Danang, Vietnam to a UK-based educational company.
  • Advised Bayer Vietnam on various legal matters relating to its business in Vietnam.

Hogan Lovells International LLP

Hogan Lovells International LLP has a longstanding presence in Vietnam, and its team is notably strong in advising European and US clients on their business activities there. Senior associate Long Huynh, who is based in Ho Chi Minh City, handles matters relating to areas such as healthcare, oil and gas, and real estate, among others. He has been advising foreign investors on entering the Vietnam market since 1998. Although practice head Jeff Olson has moved to an in-house role, the firm is able to leverage the expertise of practitioners across the wider regional network; key contacts include Singapore-based partners Samantha Campbell and Stephanie Keen. Gaston Fernandez relocated from the Miami office to Ho Chi Minh City to lead the firm's Vietnam offices.

Other key lawyers:

Gaston Fernandez; Long Huynh

Mayer Brown

Mayer Brown's team is led by New York-qualified partner David Harrison, who excels in M&A, joint ventures, disposals and general corporate matters. He is equally strong advising foreign companies on their investments in Vietnam as he is acting for domestic companies on their outbound activities. Harrison is supported by counsel Hai Thao Nguyen, who has over 10 years of experience advising clients in the real estate and insurance sectors. Another key name is senior associate Orsolya Szotryory-Grove, who is also a US-qualified lawyer.

Practice head(s):

David Harrison


‘Mayer Brown has a well-established practice in Vietnam and their advice is always strategic and pragmatic. The team consists of seasoned practitioners that know the terrain and hence can advise on a wide range of issues.’

‘David Harrison is ranked number one on our speed dial when it comes to any transactions associated with Vietnam. Time and time again David proves he is a cut above the rest with his in-depth knowledge of Vietnamese law and understanding of practical issues and commercial applications. David is a good operator who is responsive, dedicated, proactive and technically superior.’

Key clients

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.

DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)

Work highlights

  • Advised Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), a German developmentbank, on its subscription for preference shares in AsiaCollect Holdings Pte. Ltd. for $2m.

Rajah & Tann LCT Lawyers

Rajah & Tann LCT Lawyers' corporate and M&A team is notably active in private equity transactions and matters with a nexus to real estate, as well as handling a steady flow of general M&A work. With the firm having a wide regional footprint across Asia, it is often seen in projects of a similar scale. The practice is led by Vu Thi Que, who is a fluent Mandarin speaker and regularly acts for Chinese clients. She is supported by Logan Leung and Trinh Minh Duc, who were promoted to the partnership in 2020 and 2021 respectively.

Practice head(s):

Vu Thi Que

Other key lawyers:

Logan LeungTrinh Minh Duc


The team is experienced in the M&A intricacies and local peculiarities. They have also been flexible in terms of fee proposals and billing requirements.

‘Logan provides timely responses and a practical approach for issues, which we appreciate. He is a trusted adviser for Vietnam-related matters.’

‘The firm has a good team of local lawyers who speak the local language and those with international experience who brings the level of expertise that is expected for international clients. They organise themselves in such a way that the team serving non-Vietnamese clients offers an almost seamless execution of the job handling the clients, the clients’ local partners and local authorities.’

Key clients


Keppel Land

Itochu Corporation


BioMar Group


TCL Corporation

Core Pacific Group


Phu Long Corporation

Work highlights

  • Advised BioMar on its share sale transaction of Viet-Uc, one of Vietnam’s leading seafood groups.
  • Advised Mapletree Logistics Trust – a Vietnam counsel – on the acquisition of a Vietnam logistics property.
  • Advised Aura Private Equity in the $24m Series B funding round into Kim Dental. The funding round was led by ABC World Asia.

Tilleke & Gibbins

Tilleke & Gibbins provides a comprehensive service to foreign clients looking to start and run a business in Vietnam. In addition to advising on establishing representative offices or subsidiaries, it handles M&A, joint ventures and restructurings, among other matters. With the firm having a regional focus on Southeast Asia, it attracts a significant amount of referral work from international law firms without a presence in Vietnam. Practice head Thomas Treutler is an expert in both corporate and IP law, and regularly on issues where both these areas overlap. Other important figures include Vinh Quoc Nguyen and Kien Trung Trinh.

Practice head(s):

Thomas Treutler


‘T&G’s team in Vietnam knows the market very well and is up to date on the latest laws and regulations. Their team is efficient, commercially-minded, and reachable.’

The firm provides top quality client service and exceptional knowledge of highly regulated areas such as franchising and intellectual property.

Key clients



Crown Equipment

FMC Corporation

Invisalign/Align Group

Jabil Circuit

Johnson & Johnson


Merck Sharp & Dohme


Work highlights

  • Assisting a North American food ingredient manufacturer with two M&A transactions under which it will acquire the majority shares of two Vietnamese entities engaged in seafood processing and trading.
  • Advised and assisted a renowned international school chain based in California to establish two campuses in Vietnam.

ACSV Legal

Equally strong acting for domestic and international clients, ACSV Legal advises on corporate restructurings, private equity investments, M&A and commercial agreements. Managing partner Mark Oakley, who heads up the team, has expertise in foreign direct investment into Southeast Asia. Special counsel Hieu Pham, who focuses on M&A, private equity and FDI, is another name to note.

Practice head(s):

Mark Oakley

Other key lawyers:

Hieu Pham


‘The team that we have worked with from ACSV Legal appear to have a good sense of industry knowledge and are able to provide commercial solutions. We also value their responsiveness especially on fast-moving, ever-changing transactions.’

‘What makes ACSV Legal unique is its good legal expertise, solution-oriented, pragmatic approach to problems, cost-effective services and strong, experienced team of lawyers. ACSV Legal is a multidisciplinary firm, with corporate and M&A being a core practice, having a lot of experience in both the local and international markets.’

‘I believe the team’s professionalism, knowledge of the market, and attentiveness are what set the team apart from other firms. They are able to understand the intricacies of the local market but are also able to zoom out and understand the full picture.’

ACSV’s team is very responsive and has a diverse bench of both local and international lawyers.

Key clients

Pham Nguyen

FitLG / California

O-We Water



Delta Offshore Energy

Work highlights

  • Advised Delta Offshore Energy Pte. Ltd. on the development of a 3,200 MW LNG-to-power plant.
  • Advised one of the top-ranked and leading brand of English education centres in Vietnam that wishes to extend the business into international pre-school operation in Vietnam.
  • Advised a leading foreign invested healthcare care provider in Ho Chi Minh City, in acquiring 100% ownership interest in a group of onshore chiropractic clinics.

Bizlink Lawyers

Corporate and M&A work is a major area of focus at Bizlink Lawyers, which undertakes a mix of domestic and cross-border mandates for its clients. Managing partner Do Trong Hai and Nguyen Duc Manh jointly lead the team, which has particular expertise in advising foreign investors on the legal and practical issues associated with the securities, banking and telecoms industries. It also has extensive experience of handling M&A in the real estate and construction sector.

Practice head(s):

Do Trong Hai; Nguyen Duc Manh

Other key lawyers:

Tran Thi NganLe Thi Hong


‘Bizlink is our law firm of first choice, particularly when the matter concerns something related to Vietnamese law.’

‘We always receive first rate attention when we engage Bizlink to assist us.’

Key clients

Vietnam Auto Parts Company Limited

Total Building Systems Co., Ltd

Zhende Medical Co., Ltd

Grindleford Industrial Limited

Maison Retail Management International Corporation

SMC Corporation (Vietnam) Company Limited

Vinh Tuong Industrial Corporation

Traphaco Joint Stock Company






Smart Shirts Garment Manufacturing Bao Minh Co., Ltd.

Ecolab Vietnam Co., Ltd.

DT Xuan Truong Co., Ltd.

Work highlights

  • Advised a foreign-invested company on procedures for additional registration of “real estate business” objective and extension of project’s operational term of a foreign-invested investment project; and extension of land use term.
  • Advised VietinBank on the high profile M&A project for transferring Vietinbank Tower project with the estimated value of $482 million


ZICO Law undertakes a significant amount of work for clients from Greater China and its team has experience of advising both private and public bodies on their investments in Vietnam. Its work spans industries such as real estate and construction, TMT and energy. Tay Zi Li in Ho Chi Minh City, who is a fluent Mandarin speaker, particularly excels in corporate real estate transactions. Hanoi-based managing partner Phuong Nguyen, who co-heads the practice with Li, is notably strong in infrastructure-related corporate transactions.

Practice head(s):

Tay Zi Li; Phuong Nguyen

Other key lawyers:

Gam Le; Hng Hsieh Zhen


‘ZICO Law distinguishes itself from others in terms of its timely response, flexible billing, high quality services and proactive approach in solving issues.’

The team was led by Mr. Tay Zi Li, and they responded to any urgent request from us in a very organized manner. Most of the law firms in Vietnam have difficulties in providing timely and responsive service, but this team is different.

Extremely helpful in getting us started in South East Asia. They came referenced from a reputable company operating in Vietnam and they lived up to our expectations.’

Engaging, extremely helpful, huge network within South East Asia, prompt response, reasonable rates.

We have worked well with Tay Zi Li and Hng Hsieh Zhen, who have assisted us with understanding the local requirements and dealing with potential partners.’

Key clients

Hong Kong Land

TNB Renewables Sdn Bhd, a company wholly owned by Tenaga Nasional Berhad (TNB)

Sinotrans, logistics arm of China Merchant Group

Jaguar International Corporation

Jinko Solar

Archetype Vietnam

SRE Group Ltd

Redefine Capital Management Company Limited, a company wholly owned by Electronic World Trade Platform (eWTP)

Strategic Year Holdings Limited

UOL Group Limited

Savills Vietnam Company Limited

ISEC Healthcare Ltd

Work highlights

  • Advising a subsidiary of State Grid of China, which is a leading electrical/electronics macturer based in China, on the sale of a subsidiary of Electricity Vietnam
  • Advising Redefine Capital Fund L.P. (“Redefine”) on a convertible loan into shares of Educa Corporation Education Joint Stock Company (“Target Company”).
  • Advising TNB Renewables Sdn Bhd on a proposed acquisition of part of the shares of Sunseap Sun Times Solar Investment JSC .

DL & Partners

DL&Partners advises domestic and international clients on all aspects of their business and investment requirements. Its recent workload spanned joint ventures, M&A, commercial contracts and franchising agreements. Tran Viet Dung leads the team and is supported by Dung Le , both of whom are based in Ho Chi Minh City.

Practice head(s):

Tran Viet Dung

Other key lawyers:

Dung Le


DL & Partners is a dynamic and progressive law firm. It is recognized as one of the most reputable law firms in Vietnam, possessing brilliant young and talented lawyers spread across Hanoi and HCMC to assist clients with complex and sophisticated domestic and international transactions.’

Mr. Tran Viet Dung, who is the head of the corporate and M&A practice, is an outstanding professional. He has extensive experience of working in both civil and common law jurisdictions.’

The people are very professional, knowledgeable, friendly, dedicated, responsive and have integrity. Their professional fees are quite reasonable and service is excellent.’

The partners are reliable and responsive.’

Key clients

American Education Group

Beta Holdings

Cat Tuong Group

Dai Dung

Champion Lee


GP Global

JPC Corp



Singha Beer

Stolt Bitumen Service


Shinhan Finance

Trelleborg Sealing Solutions

Tona Syntegra Solar



New Image Vietnam

Work highlights

  • Advised HSV and HVS’s majority shareholders on a $32m M&A transaction.
  • Advised TGL on its acquisition of Kitchen Art.
  • Advised AEG on its private share placement of $4m.

Dilinh Legal

Dilinh Legal, which is a boutique corporate law firm, focuses on acting for clients in the life sciences, manufacturing and technology sectors. Founding partner Diep Hoang has a particularly strong track record advising Taiwanese investors on establishing a presence in Vietnam, in addition to assisting them with day-to-day operational issues and strategic expansions. He works with Michael Lee, who has been active in the Vietnam market for over 15 years.

Practice head(s):

Diep Hoang; Michael Lee


‘Dilinh has supported me and our company very closely for every legal issues in Vietnam. Their service has been quick and clear.’

‘We have created a close friendship on top of the professional relationship. Team members are all professional and friendly at the same time.’

‘What makes Dilinh Legal unique is its ability to tackle legal matters in an effective and responsive manner. Dilinh Legal can always help our group avoid/mitigate legal risks. For urgent matters, the firm can offer precise legal opinions within 24 hours. Most firms may not be able to do that.’

I work closely with Diep Hoang and Michael Lee. We are separated by thousands of miles and 12 hours time difference. Yet, they are always accessible and responsive and fully understand our business.’

Dilinh has gone well beyond legal advise with us. They understand our business and have been invaluable with their commercial advice.

Ms. Diep Hoang. Strength: a seasoned counsel, having the knowledge, business-savvy, and cultural sensitivity to effectively handle our case.’

Ms Diep is a good lawyer. I’m quite comfortable with her support and legal advice. From my view, when finding solutions, she always thinks outside the box.’

Key clients

Central Trading and Development Corporation

Jones and Vining

One Asia Lawyers

Thanh Cong Group

Quant Edge

Fram Ventures

Ipsen Pharma

Henkel AG & Co.

Top Glove

Phu Hung Life Insurance

Work highlights

  • Advising Thanh Cong on the acquisition of 100% shares of HVS Securities JSC.
  • Assisted Viet Uc with obtaining its e-wallet license.


DIMAC has continued to grow its presence in sectors such as technology, real estate and manufacturing, with clients noting its expertise in corporate transactions and commercial contracts. The practice has remained active, notwithstanding the challenges to the market caused by Covid-19; it has continued to serve its longstanding clients, and also won new work in connection with investments/acquisitions of media and technology companies. Hanoi-based partner Le Thanh Tung co-heads the practice with Nguyen Danh Cong, who is based in Ho Chi Minh City.

Practice head(s):

Le Thanh TungNguyen Danh Cong


‘The industry-related expertise of the partners, and the appropriate allocation of partners into specific projects, are what make DIMAC more effective when helping us figure out the critical issues in the legal contracts and negotiating with our clients and investors. DIMAC’s long track record in handling international deals is also a factor that strengthens our confidence to choose them as a strategic legal partner for the long term.’

Key clients

Bkav Anti Virus Software Joint Stock Company

KN Cam Ranh Company Limited

DNA Vietnam LLC

Based in Hanoi, boutique corporate law firm DNA Vietnam LLC is a new name in the Vietnamese market, having been founded in 2020 by managing partner Dang Thanh Son and Dang Chi Lieu (who were formerly at Baker McKenzie). Their private practice expertise is complemented by their experience of working in-house at conglomerates in Vietnam. The team has a wealth of experience of handling all the complexities of the M&A process, including regulatory issues. In addition to being active in the domestic market, the firm is active in cross-border mandates, partly due to its membership of the global network Alliott Global Alliance.

Practice head(s):

Dang Thanh SonDang Chi Lieu


DNA understands clients’ needs and provide assistance with finding the best solutions. They are a trusted adviser.

Dang Chi Lieu is the most reliable lawyer that I have ever worked with in Vietnam. He has deep legal and industrial knowledge, which renders valuable input and help us to get through obstacles.’

We work closely with Mr Dang Chi Lieu, who is the co-founder of DNA Law and used to be a partner for Baker McKenzie. Apart from his capabilities and experience, he was very engaged in the process and responded quickly to our requests. He has great negotiation skills and is able to close deals.’

DNA is that rare law firm in Vietnam which has a commercial mindset and an intensive working spirit.’

Lieu is always my recommended lawyer for M&A transactions. He works hard and is willing to answer all questions from clients. I am also impressed with his negotiation skills, which help us a lot with closing the deal.’

Key clients

Sigma Engineering Joint Stock Company

Viet Nam Australia Refrigeration Electrical Engineering Group Joint Stock Company

Gunkul Engineering Public Company Limited

Phu Cuong Power Joint Stock Company


Viettel Global JSC

Coherent Services Vietnam

Work highlights

  • Advised Sigma Engineering Joint Stock Company and its majority shareholder on the sale of the company to Japanese strategic investors.
  • Advised Viet Nam Australia Refrigeration Electrical Engineering Group Joint Stock Company on the sale of 44% of the business to Japanese investors.
  • Advised Gunkul Engineering Public Company Limited on the acquisition of 50MW Tan Chau Solar Project in Tay Ninh province, Vietnam.

EPLegal Limited

Although EPLegal Limited started out as a boutique oil and gas law firm in 2009, it has a growing corporate practice which now attracts work across a wide range of industries. Managing partner Annie Ngo leads the team, which acts for Vietnamese and international clients operating in areas such as manufacturing, real estate, renewable and alternative energy, maritime and aviation.

Practice head(s):

Annie Ngo

Other key lawyers:

Ly DaoHanh Pham; Huong Nguyen

Key clients

HydroChina ZhongNan Engineering Corporation

PTSC Production Services Joint Stock Company

Phu Loc Real Estate Investment Joint Stock Company

Work highlights

  • Providing legal consultation to PTSC Production Services Joint Stock Company in relation to procurement procedure.

KPMG Law in Vietnam

KPMG Law in Vietnam’s corporate team has experience of handling deals involving the real estate, manufacturing, energy, education and healthcare sectors. As part of a Big Four consultancy, the firm is able to offer access to additional tax and accountancy services. Richard Stapley-Oh, who leads the firm’s Vietnam and Cambodia offices, is highly-skilled in cross-border ASEAN transactions. Also recommended at the firm are Ngoc Thi Thanh BuiHoa Thanh NguyenGiovanni MarinoBinh Duy Tran and Ly Hoang Nguyen.

Work highlights

  • Advised Anheuser Busch InBev on a merger transaction.
  • Advised Elanco Animal Health Incorporated on a merger transaction with Bayer Vietnam.

LNT & Partners

LNT & Partners recently assisted AstraZeneca with its $150m contract with the Vietnamese government over the rollout of vaccines against Covid-19. Elsewhere, beyond its work in the pharmaceuticals sector, the team is also active in matters with a nexus to the manufacturing, real estate and construction, and TMT sectors, among other industries. Its varied workload includes advice on M&A, joint ventures, merger clearances and company formations. Key figures in the team include Quyen HoangHong Bui, Minh Vu, Tuan Nguyen, Thuy Nguyen, Binh Tran and Net Le.


They are very efficient, have great knowledge of the law and good communication with the authority. We trust them very much on merger control matters.

Their approach is realistic, creative and efficient.’

LNT Partners has handled many foreign investment cases, and it not only has the knowledge of Vietnamese laws, but also the detailed practical know-how in relation to many business sectors.’

Expertise in M&A. Strong support advising on deal structure.’

Key clients

Philcement Corporation

Toshin Development Co., Ltd

Boustead Projects Land Pte

BASF Vietnam Company Limited

AstraZeneca Vietnam Company Limited

Chrysaor Holdings Limited

Siemen Healthineers

ATAD Steel

Baowu Steel



Marsh Vietnam

TCL China Star







Liberty Insurance

Nippon Sheraton



Work highlights

  • Advised AstraZeneca on bringing 30 million doses (valued at about $150m) of the Covid-19 vaccines to Vietnam.
  • Advised Philcement Corporation, a subsidiary of Philippines-listed Phinma Corporation, on a $50m stake acquisition in Song Lam Cement JSC, operator of the biggest cement plant in Vietnam.
  • Advised BASF on sale of its global construction chemicals business to Lone Star, a global private equity firm.

Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu provides a full suite of support to Japanese investors that are active in the market in Vietnam. In addition to assisting clients with establishing a local presence, the team handles a wide range of operational and management issues, as well as joint ventures and exits. Its work spans industries such as manufacturing, technology, financial services and retail, among others. The team is led by Keigo Sawayama in Hanoi and Ho Chi Minh City-based partner Motohisa Nakagawa.


‘Motohisa Nakagawa, Representative Head of the firm NO&T HCMC, has  great experience in Vietnam.’

Key clients

Aica Asia Laminates Holding Co., Ltd

UT Group Co., Ltd.

Osaka Gas Co., Ltd.

TEPCO Power Grid, Incorporated

Nishimura & Asahi

Nishimura & Asahi has a strong profile among Japanese investors in Vietnam, and its roster of clients includes names such as Mitsui and Mitsubishi. Tokyo-based partner Hikaru Oguchi leads the team and advises overseas clients, particularly in relation to greenfield investments. Key names on the ground in Ho Chi Minh City include Vu Le Bang, Ha Haong Loc and Kazuhide Onya.

Practice head(s):

Hikaru Oguchi

Key clients

Mitsui & Co., Ltd.

Sumitomo Corporation

Hitachi Sustainable Energy Ltd.

Mitsubishi Materials Corporation

Samty Co., Ltd.

Yamato Kogyo Co., Ltd.

Work highlights

  • Advised Hitachi Sustainable Energy Ltd., a subsidiary of Mitsubishi HC Capital Inc., on its acquisition of a 35.1 percent stake in Trung Nam Wind Power Joint Stock Company, a subsidiary of Trung Nam Construction Investment Corporation and a leader in the renewable energy industry in Vietnam.
  • Advised Japanese real estate company Samty Co., Ltd. on its acquisition of 90% of S-VIN Vietnam Real Estate Trading Joint Stock Co., as part of a real estate project in Vietnam with Vinhomes Joint Stock Co.
  • Advised Mitsubishi Materials Corporation on its subscription to a private placement of new shares issued by Masan High-Tech Materials Corporation, a Vietnamese producer of tungsten products.

Venture North Law Limited

Corporate and commercial boutique Venture North Law Limited acts for clients such as private equity funds, financial institutions and Vietnamese and international corporates. Its varied workload includes M&A and investment transactions, commercial contracts advice and operational support. Nguyen Quang Vu and Ha Thi Dung are names to note in Hanoi, while Thuy Hoang is a key contact in the Ho Chi Minh City office which welcomed Hoang Thi Thanh Thuy who joined from an in-house role at NS BlueScope Vietnam Limited in June 2021. Thuy has notable experience in advising foreign-invested companies on corporate, commercial, and compliance matters.

Other key lawyers:

Hoang Thi Thanh Thuy


‘Venture North Law’s team is dedicated to its client. We normally receive more than what we paid for.’

Nguyen Quang Vu is knowledgeable. He is thoughtful in providing his opinions and advice. He has intensive knowledge of Vietnamese law and extensive experience of advising clients in a wide range of legal services.’