Nam Phan – GC Powerlist
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Vietnam 2023

Food, beverages and tobacco

Nam Phan

Country finance controller, head of legal, tax and compliance | ofi (Olam Food Ingredients) Vietnam

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Vietnam 2023

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Nam Phan

Country finance controller, head of legal, tax and compliance | ofi (Olam Food Ingredients) Vietnam

What are the most significant cases or transactions that your legal team has recently been involved in?

Over the past year, our legal team has been actively engaged in a wide range of significant cases and transactions that demonstrate our commitment to providing comprehensive legal support to our organisation. While we must be mindful of confidentiality, we are pleased to highlight the following key areas of our work:

Licensing and regulatory compliance. Our legal team has been diligently involved in ensuring that various entities and branches across our organisation are fully compliant with Vietnamese laws and regulations. This includes obtaining licenses, permits, and approvals necessary for our operations. While we cannot provide specific details due to confidentiality, our focus has been on adhering to the evolving legal landscape in Vietnam to support our business expansion.

Commercial dispute resolution. We have successfully resolved a number of commercial disputes related to transactions with both customers and suppliers. These disputes spanned across local and international jurisdictions, underlining our team’s proficiency in navigating complex legal matters and ensuring favourable outcomes for our organisation.

Tax and customs audits. Our legal team has skilfully managed tax and customs audits initiated by local tax and customs authorities. We have ensured that our organisation remains compliant with tax regulations and have resolved these audits in an efficient and lawful manner, minimising any potential financial impact.

Free trade agreements (FTAs). We have played a crucial role in matters related to various FTAs, including those with the US, EU, China, India, and ASEAN countries. Our work has encompassed issues such as goods origin determination and securing Certificates of Origin for goods exported and imported under these agreements. This has been instrumental in optimising our trade operations and maintaining compliance with international trade regulations.

FDA registration and export compliance. Our team has actively managed FDA registration requirements for goods exported to the US, ensuring that our products meet the necessary standards and regulations. Additionally, we have focused on compliance matters when exporting to the EU and other regions, aligning our practices with their respective regulations to facilitate seamless international trade.

Contract drafting. We have been deeply involved in the drafting and negotiation of various contracts critical to our business operations. This includes contracts related to sales, procurement, partnerships, and other agreements vital to our organisation’s success.

Mergers and acquisitions (M&A). Our legal team has been instrumental in facilitating M&A deals related to the transfer of factories and plantations. This work has involved extensive due diligence, negotiations, and legal documentation to ensure the smooth transition of assets and operations.

These accomplishments underscore our legal team’s dedication to providing comprehensive legal support to our organisation, ensuring compliance with regulations, resolving disputes, and facilitating strategic business initiatives. While confidentiality prevents us from sharing specific details, we remain committed to upholding the highest standards of legal excellence in our work.

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

One notable innovation that significantly improved the efficiency and effectiveness of our legal team’s operations was the implementation of a proactive legal risk management strategy. Instead of waiting for legal issues to arise, we took a proactive approach by collaborating closely with business teams and other functions within the organisation from the very beginning of projects and initiatives.

By doing so, we were able to identify potential legal risks at their inception and take measures to mitigate them before they escalated into more complex and costly problems. This proactive collaboration not only saved valuable time and resources but also helped in preventing legal issues from arising in the first place.

Additionally, to stay up to date with changes in laws and regulations, both locally and internationally, we implemented a comprehensive monitoring system. We subscribed to newsletters and updates from various sources, including the government, business chambers, consulting firms and law firms. This allowed us to continuously track legal developments and ensure that our legal advice and strategies remained current and compliant.

Furthermore, leveraging my role as a guest lecturer at the Vietnam Judicial Academy under the Ministry of Justice was another innovative and cost-effective approach. This allowed me to build and maintain a valuable network of students who are professional lawyers or in-house lawyers. Through discussions and knowledge-sharing with my network, I was able to exchange insights, best practices, and updates on legal matters without incurring any expenses. This not only enriched my team’s expertise but also provided a platform for ongoing learning and collaboration.

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