Vietnam’s Thriving M&A Landscape: Key Highlights from August 2025
By Bach Quang
Date: Wed, September 24, 2025 | 11:18 AM GMT+7
Vietnam’s mergers and acquisitions (M&A) market is showcasing robust growth, particularly in real estate, technology, industrial manufacturing, and financial services. In August alone, the market saw 18 transactions with a cumulative value reaching approximately $2.23 billion, based on the latest insights from Grant Thornton Vietnam.
A Surge in Transaction Value
August’s performance stands out for its significant deal value despite having fewer transactions than July. The driving force behind this remarkable leap was VinFast’s notable $1.5 billion restructuring deal, alongside two other major transactions in the technology and industrial manufacturing sectors, each exceeding $200 million. This underscored a growing appetite among investors to seize opportunities in Vietnam’s dynamic economy.
Real Estate Leading the Way
In terms of transaction volume, the real estate sector continues to lead the way. A noteworthy acquisition involved SSG Group, which purchased 11.92% of shares in Seaprodex for approximately $20 million. This strategic move positions SSG as the second-largest shareholder while reinforcing the role of the State Capital Investment Corporation (SCIC) as the primary stakeholder.
Another key deal in the real estate market was undertaken by Gelex Infrastructure JSC, which acquired the entire equity interest in the Can Gio high-end residential project from Savico for approximately $24.5 million. The project, dating back to a 2002 business cooperation contract, showcases continued investment interest in high-value developments within the country.
Technological Advancements through M&A
The technology sector also marked significant activity, with Appirits Inc. announcing the acquisition of Bunbu Joint Stock Company for approximately $241 million. This move is integral to Appirits’ VISION2030 strategy, aiming to leverage Vietnam’s tech talent to enhance service quality and expand internationally.
Industrial Expansion
In industrial manufacturing, HD Korea Shipbuilding & Offshore Engineering made headlines by acquiring Doosan Vina for about $210 million. This deal not only showcases the strategic investments being made in the manufacturing sector but also outlines plans to revitalize the Doosan Vina site for eco-friendly production, highlighting a shift towards sustainability.
A Shift in Financial Transactions
The financial services sector also saw notable activities. Daiwa Securities is set to purchase nearly 16 million shares of SSI, bolstering its stake to over 317 million shares. This investment reflects the growing confidence among foreign investors in Vietnam’s financial landscape.
A Look Ahead: Emerging Trends
Interestingly, August did not see any direct fund investments; rather, it was characterized by announcements related to fundraising and capital commitments. Grant Thornton anticipates a rise in fund-driven investment transactions in the upcoming quarters, potentially spurred by an influx of available capital.
Notable Investments and Collaborations
In an expanded view of investment activity, the Swiss Investment Fund for Emerging Markets (SIFEM) committed $20 million to Excelsior Capital Vietnam Partners II, a fund targeting growth in various sectors, including technology and healthcare. Additionally, the International Finance Corporation (IFC) is exploring a potential investment of up to $200 million in sustainability bonds issued by VPBank, highlighting a clear direction toward climate-focused initiatives.
The Future of M&A in Vietnam
As the country moves further into 2025, experts like Nguyen Cong Ai from KPMG Vietnam predict continued growth in the M&A sector, driven by macroeconomic factors such as GDP growth, e-commerce expansion, and ongoing infrastructure development.
Vietnam’s M&A market is undoubtedly on an upward trajectory, drawing keen interest from local and international investors alike. As the landscape evolves, stakeholders are keenly monitoring forthcoming trends and opportunities that promises to reshape the economic horizon of this vibrant nation.