Navigating Major Legal Developments in Vietnam: Insights on Investment and Advisory Services

Investment Highlights by YKVN

In a significant move for Vietnam’s retail sector, YKVN, a prominent law firm, has been instrumental in advising Masan Group on two major transactions. The first deal involved Bain Capital making a USD 250 million investment through convertible dividend preference shares, finalized in April 2024. Masan Group announced that this investment would enhance its financial reserves, thereby bolstering its position in the competitive retail market.

Later in 2024, YKVN once again aided Masan Group in acquiring an additional 7.1% stake in WinCommerce for USD 200 million from South Korean conglomerate SK Group. This strategic acquisition allows SK Group to rebalance its portfolio by divesting from non-core businesses, thus streamlining operations and focusing on key areas of growth.

Diverse International Advisory

YKVN’s repertoire also extends to international clients. Recently, the firm represented JFE Steel Corporation, a Japanese company, in merger control matters concerning its proposed joint venture with JSW Steel from India. Valued at USD 670 million, this venture aims to produce grain-oriented electrical steel in India, with commencement of full production slated for fiscal 2027.

Client Testimonials Elevate YKVN’s Prestige

Clients hold YKVN in high regard, as evidenced by remarks from Ta Nguyen Anh, Chief Investment Officer at Vingroup. Anh expressed gratitude for YKVN’s deep expertise, noting that their commitment and thoughtful approach facilitated a swift transaction process.

Recognizing Top Law Firms in Vietnam

In the legal landscape of Vietnam, several law firms emerged as key players at the recent Vietnam Law Firm Awards 2025. Notably, YKVN was recognized as among the Best Overall Law Firms, alongside Baker McKenzie, Frasers Law Company, and VILAF. These firms excelled across various categories, setting a high standard in legal advisory services.

VILAF particularly shone, winning awards in 15 categories, just one shy of YKVN, while Frasers Law Company and Baker McKenzie excelled in 10 and 8 categories respectively.

Legal Innovations and Deal-Making

VILAF has been making headlines for its involvement in pivotal transactions. Notably, the firm advised on a USD 950 million wind power project in Laos, which will facilitate electricity sales to Vietnam’s state-owned power company, EVN. Furthermore, VILAF assisted Vinpearl JSC, a hospitality arm of Vingroup, in issuing USD 150 million worth of exchangeable bonds in Singapore.

Fresh Perspectives from Boutique Firms

Dilinh Legal, a boutique law firm founded in 2010, has made significant strides in cross-border transactions and was awarded Best Boutique Law Firm at the recent awards. Led by Hoang Diep—a noted Vietnamese lawyer—Dilinh Legal showcased its capabilities in guiding clients through complex mergers and acquisitions, including representing Mabuchi Motor in its acquisition of Ob Kogyo.

Inbound Investment Opportunities

The market’s vibrancy and influx of foreign direct investment are drawing attention. Dentons LuatViet, a collaborative firm rooted in Vietnam’s legal landscape, has acted as a local counsel for various international clients navigating entry into Vietnam. Notably, they assisted Apex Fund Services, ensuring compliance with local regulations for market entry.

Technology and Data Privacy Focus

The evolution of Vietnam’s legal framework also reflects growing digitalization. Law firms like DNA Vietnam and Tilleke & Gibbins have emerged as frontrunners in offering legal expertise in technology, data privacy, and e-commerce. They are actively addressing the legal challenges posed by new technologies, such as data privacy compliance and cybersecurity.

Navigating Regulatory Complexities in Fintech

As Vietnam’s fintech sector accelerates, firms such as ASL Law and Indochine Counsel are stepping up to guide foreign investors through the intricate licensing requirements, regulatory compliance, and financial transactions intrinsic to the evolving market landscape.

Construction and Infrastructure Development

In infrastructure, CNC Counsel has emerged as a trusted advisor for various construction projects, notably contributing to the Ben Luc – Long Thanh expressway project. Their role spans legal advice, contract management, and facilitation of settlements to navigate complex construction regulations effectively.

Handling Aviation Matters

ANHISA, a relatively new player in the legal field, has quickly established itself in aviation law, addressing disputes involving high-value air freight and logistics. The firm’s proactive approach in negotiation and settlement has garnered praise from clients facing challenging circumstances in the aviation sector.

Preparing for Future Challenges

In sectors such as real estate and taxation, firms are demonstrating agility and forward-thinking strategies to tackle evolving regulatory frameworks. For instance, Global Vietnam Lawyers showcased expertise in managing complex real estate ventures, while ATS Law Firm provided essential guidance on navigating Vietnam’s multifaceted tax regulations.

Vietnam’s legal sector is vibrant and dynamic, characterized by competitive law firms that provide a wide array of services. Whether through large corporate transactions or intricate boutique advisory, these firms are adept at addressing the diverse needs of both local and international clients, further solidifying Vietnam’s position as a critical player in the Southeast Asian legal landscape.