Foreign desks in Vietnam

Clifford Chance

Clifford Chance's involvement in the Vietnamese market dates back more than 30 years. It draws upon the experience of partners and associates based in Singapore and Tokyo to advise on banking and finance, corporate and M&A, as well as projects and energy mandates. In Singapore, Fergus Evans focuses on syndicated loans and project finance transactions, as well as aircraft and asset finance matters. Another key individual is Ross Howard, who is experienced in the financing aspects of energy, natural resources and infrastructure projects. Elsewhere, Hans Menski in Tokyo is another key individual with finance expertise, including in ECA-backed and multi-source financings. The corporate and M&A side of the practice is largely led by Valerie Kong. The firm regularly works with the leading independent firm VILAF.

Other key lawyers:

Hans MenskiDuc Nguyen


‘Expertise in project finance and market knowledge/application in Vietnam; commercially-sensible approach; great on management of local counsel and local law issues; positive fun approach to work and clients.’

Key clients

Asian Development Bank


Work highlights

  • Advised Asian Development Bank on the financing of a 257MW solar power plant.
  • Advised AIA Group Limited’s amendment, restatement and extension of its $100m equivalent multicurrency revolving umbrella credit facility agreement.


Linklaters draws upon individuals from its network of offices in Singapore, Hong Kong and Bangkok, with the added advantage of its affiliation with local firm Allens. The workload predominantly focuses on M&A, capital markets and project finance transactions. Key names from the Singapore office include project finance expert Christopher Bradley and New York and English law-qualified partner Amit Singh, who focuses on debt and equity capital markets transactions. In Hong Kong, Matthew Middleditch is chairman of the firm’s global corporate practice. Elsewhere, in Bangkok, Wanwisar Nakarat is an expert in renewable energy projects.

Other key lawyers:

Wanwisar Nakarat

Key clients

Credit Suisse


CLP Holdings Ltd.

JPMorgan Chase Bank N.A.




Work highlights

  • Advised Heineken and Able Win Gain on a block trade of ordinary shares in Saigon Beer – Alcohol – Beverage Corporation.
  • Advised RATCH Group Public Company Limited on its $159m acquisition of a 49% stake investment in An Binh Energy and Infrastructure Fund.
  • Advising the sponsors and project company on the development, construction, operation and financing of the 1,200MW Vung Ang II Thermal Power Project, an imported coal BOT project in Ha Thinh province in Vietnam.

DLA Piper Tokyo Partnership Gaikokuho Kyodojigyo Horitsu Jimusho

DLA Piper has a strong track record in mandates connected with the energy and infrastructure sectors in Vietnam, and it has also been active in Vietnam’s growing tech industry, particularly in sub-sectors such as medtech and proptech. Tokyo-based partner Lance Miller, who heads up the Vietnam practice, has a wealth of experience of finance, corporate and commercial matters. He advises foreign clients on business expansion and investment in Vietnam, as well as acting for Vietnamese clients on their outbound investments. Miller counts local conglomerate VinGroup as a longstanding client. In Singapore, Joe Bauerschmidt, who is noted for his M&A and capital markets experience, acts for clients from areas such as financial services, technology, energy and real estate. Also based in Singapore is David Kuo, who focuses on PE and VC financing. Bangkok-based partner Samata Masagee is also highly recommended.

Practice head(s):

Lance Miller


The team always turns around quality work at speed, as well as giving us strategic advice.’

We have been working with DLA’s partner David Kuo for many years on our private equity investments. We truly appreciate David’s dedication to work, the speedy response and his strong commercial sense.’

Key clients

China Construction Bank (Asia) Corporation Limited

VMD Kórházi Technológiai Zrt.


VinFast Trading & Production Limited

VinGroup Joint Stock Company

VinSmart HOYER

Work highlights

  • Advising China Construction Bank on the financing of a 650MW power project in An Kanh province, Vietnam.
  • Advising VMD Kórházi Technológiai Zrt. on the investment and construction of Can Tho City Oncology Hospital with 500-bed capacity in Vietnam.
  • Advising the HOYER Group on the acquisition of Kerry-ITS Holdings Pte. Ltd. and its subsidiaries in Singapore, China, Vietnam and Thailand.

Latham & Watkins LLP

Latham & Watkins LLP, which has a longstanding history in Vietnam, is prominent in some of the biggest M&A, private equity and venture capital deals in the market. It also has a strong pedigree in high-profile capital markets transactions. Hong Kong-based partner Amy Beckingham is highly skilled in corporate and private equity transactions, acting on M&A, joint ventures and IPOs. She jointly leads the team with Sharon Lau, who is based in the Singapore office, and is vice-chair of the firm’s global corporate department.

Practice head(s):

Amy Beckingham; Sharon Lau

Key clients

Vingroup, Vinhomes Joint Stock Company

Warburg Pincus

Online Mobile Services Joint Stock Company (MoMo)

GIC Private Limited

Work highlights

  • Advised Vingroup Joint Stock Company and its affiliates on the transaction involving the acquisition of a minority investment by KKR in Vinhomes Joint Stock Company.  
  • Advised Online Mobile Services Joint Stock Company on its series D fundraising for $100m, via subscription of shares by existing shareholders and external investors.  
  • Advised GIC Private Limited on its acquisition, by way of a consortium, of a minority stake in Vinmec International General Hospital JSC, a Vietnam-based private hospital operator.


Milbank has a strong track record in high-profile and landmark corporate deals in Vietnam, and it is also seen as a first port of call for advice on major projects, as well as finance transactions. It has been active in the market for more than three decades. The firm particularly stands out for its work in the aviation sector, as is reflected by the fact that it acts for aircraft and engine manufacturers, financiers and jet fuel suppliers, among other clients. VietJet is one of its key clients. Jacqueline Chan and aviation specialist Paul Ng are the names to note in Singapore. New York-qualified partner James Grandolfo, who leads the Hong Kong office, is another key practitioner.


‘The team is very dedicated and understands very well clients’ needs.’

‘Partner Jacqueline Chan is very experienced and knowledgeable.’

Key clients

Masan Group Corporation

Emergent Capital Partners


Work highlights

  • Advised Masan Group Corporation on the sale of a minority stake in its consumer retail arm and food supply chain, VCM Services and Trading, to SK Group.  
  • Advised Emergent Capital Partners on the formation and management of a logistics-related investment vehicle in Vietnam with Goldman Sachs.
  • Advised Masan Group Corporation on the sale of a combined 5.5% stake in its integrated consumer retail arm, The CrownX.

White & Case Pte. Ltd.

White & Case Pte. Ltd. is engaged in complex and cross-border mandates in Vietnam, standing out in M&A and high-profile bank financing transactions, including project finance deals. It also excels in assisting clients with a wide ambit of trade-related issues and disputes. The firm strengthened its offering in December 2020 by hiring Jamie Franklin and Tim Fourteau to its Singapore office from Latham & Watkins; both practitioners are noted for their expertise in the power and oil and gas sectors in Vietnam. Jon Bowden acts on a number of the largest corporate and M&A transactions in the market. Another key individual is Charles McConnell, who is highly skilled in leveraged and acquisition finance transactions.

Practice head(s):

Jon Bowden


‘White & Case is undoubtedly among the best firms in the world and you would be amazed by what they could offer and bring in to the deals.’

‘Charles McConnell – their Singapore-based partner is absolutely a pleasant guy to work with. His knowledge of the commercial aspects of banking transactions makes your work a lot easier.’

In the projects where we have engaged White & Case, we have never been disappointed by the quality of the advice or output. The Singapore M&A team has good bench strength and the team’s responsiveness and service level is second to none.

We were fully supported by the team throughout and Jon was always quick to provide pragmatic solutions to issues we encountered through the transaction. We were extremely satisfied with the advice and support provided by Jon and the team.’

Key clients

BNP Paribas


Japanese Aero Engines Corporation

KOMIPO (Korea Midland Power) Global Pte. Ltd.


Pacific Century Group

Toyota Industries Corporation


Work highlights

  • Advised a leading global private equity sponsor on its investments in the education sector in Vietnam.
  • Advised a global investment bank as mandated lead arranger and original lender on a  loan facility to a subsidiary of one of the largest logistics and industrial real estate developers in Vietnam.
  • Advised a global investment bank on a $25 million exchangeable loan agreement to be provided to a Vietnamese borrower group.

Ashurst LLP

Ashurst LLP is highly active in Vietnam, as is reflected by its work for clients such as commercial banks, export credit agencies, developers and project sponsors. It is notably prominent in conventional and renewable energy projects. One of the key practitioners at the firm is David Wadham in Tokyo, who is a global co-head of the firm’s global power and utilities team. Also recommended is Brisbane-based partner Dan Brown , whose experience spans wind, solar and coal-fired projects in Vietnam. Simon Brown in Singapore has over 20 years of experience of corporate transactions.

Key clients

AC Energy

Coöperatief Climate Fund Managers U.A.

Work highlights

  • Advising the lenders on the funding of the Vung Ang II imported coal-fired power BOT project, in the Vung Ang Special Economic Zone, Vietnam.
  • Advising AC Energy on the supply, installation, maintenance and service components of the 88 MW wind project in Vietnam.
  • Advised AC Energy on the project documents for the Quang Binh Wind Project which will have an aggregate capacity of 210 MW and will be the largest wind farm in Vietnam.

Shearman & Sterling LLP

Shearman & Sterling LLP leverages its wide Asian network to advise clients on all subsets of the energy industry in Vietnam, including oil and gas, renewable energy, electricity and LNG. Reflective of its breadth and depth of resources, the firm is able to advise on project development and finance, M&A and private equity, as well as capital markets transactions. In addition, the firm is instructed in disputes that result in arbitration proceedings. Singapore-based partner Ben Shorten, who is the head of the project development and finance practice in Asia. jointly spearheads the firm's Vietnam offering with Asia capital markets head Kyungwon (Won) Lee , who is based in Hong Kong. Bill McCormack, who is also based in Singapore, is another name to note, as is Anna Chung in Seoul. Jean-Louis Neves Mandelli made partner in 2020. In a more recent development, David Clinch was hired from Herbert Smith Freehills LLP.

Key clients

ACWA Power

BIM Land Joint Stock Company

China Development Bank

Korean Export-Import Bank (KEXIM)

The AES Corporation

Work highlights

  • Advised BIM Land Joint Stock Company as issuer on its high yield bond offering of $200m.
  • Advising KEXIM in relation to the feasibility study for the extension of a metro rail line in Ho Chi Minh City, Vietnam.  
  • Advising Sinosure and a group of PRC lenders in connection with the financing a coal-fired power project.

Stephenson Harwood LLP

Stephenson Harwood LLP acts for domestic and multinational clients on a wide range of mandates, including market entries, investments and commercial agreements. Reflective of its presence in the market, the firm’s work spans a wide variety of industries, including financial services, healthcare, real estate, telecoms and consumer goods. Corporate and private equity partner George Cyriac , who has been instrumental in the growth of the Vietnam practice, acts for clients on acquisitions, disposals and restructurings. Like Cyriac, Tom Platts and Saugata Mukherjee are other names to note in Singapore.

Other key lawyers:

Kevin Lee

Key clients

Vietnam Holding Limited

KLW Holdings Limited


Work highlights

  • Advising a leading private equity group on an acquisition of a stake in a medical devices business in Indonesia, Hong Kong, Taiwan, Malaysia, Vietnam, and Thailand.
  • Advising the iflix group on the sale of its assets to Chinese conglomerate, Tencent Holdings.
  • Advising a private equity fund on its first venture and investment in a Vietnam-owned company which holds interests across retail, logistics, and technology ventures.