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Vietnam
As one of the first law firms in Vietnam to receive an office licence after the country opened to the world in 1994, we have been at the forefront of Vietnam’s economic transformation.
Over the past 27 years, we have encountered – and overcome – the full range of legal issues Vietnam can present. We deploy innovative structures to ensure transactions succeed, drawing on our international legal expertise and in-depth local law knowledge.
Our experience spans many areas, including:
- the development of Vietnam's infrastructure, with leading roles in power, water, ports, oil and gas, airports, roads and soft infrastructure projects;
- investment and acquisitions of interests in Vietnamese companies (both public and non-public);
- privatisations of state-owned companies and divestments of their assets;
- corporate finance and capital markets;
- investment funds;
- competition; and
- dispute resolution.
Client successes
Helping foreign investors execute the highest-profile acquisitions in Vietnam, including the largest deals in each year during the last decade.
Acting on the largest ever private equity investment in Vietnam.
Acting on investments in high-growth sectors, including education, healthcare, and fintech.
Advising on numerous acquisitions by foreign investors in the banking and finance sector, including on the acquisition of interests in the largest state-owned bank and the largest finance company in Vietnam.
Advising on five out of the seven successful equitisations of large state-owned enterprises with foreign strategic investors to date.
Advising on merger filing clearance for cross-border M&A transactions.
Acting on fund raisings by Vietnamese companies.
Advising on the largest ‘build-operate-transfer’ project development and financing in the power sector to have closed in Vietnam.
Acting on various gas-fired-power and LNG-to-power projects in Vietnam.
Advising on multiple solar and wind projects in Vietnam at different stages of development.
Acting on the financing and the restructuring of two of the leading port projects.
Acting for the developer on some of the largest ‘new city’ property developments in Ho Chi Minh City.
Acting on various employment restructurings, resolving disputes and investigations.
Diversity and inclusion
We are committed to creating a pleasant environment where our employees are encouraged to communicate openly and transparently with each other.
Our firm’s “Being Freshfields” global framework guides our standards of behaviour. The framework is based on the four key principles of respect, support, openness and positivity. Staff are encouraged to gather and voice any concerns and opinions on work matters and everyday issues. We also want our people to have a healthy work-life balance and we understand that good mental health is as important as physical health. We do not promote a ‘face-time culture’ and we encourage our staff to enjoy their life outside of work.
Creating an inclusive workplace where everyone can achieve their potential
Creating an environment where difference is valued is important to encourage all of us to work and lead inclusively. We know that focusing on diversity and inclusion is not just the right thing to do, but the smart thing to do, helping us to attract and retain top talent and meet our clients’ needs. We seek to embed our inclusion and diversity efforts into our everyday activities across the firm.
Promoting gender diversification
We are also passionate about promoting gender equality in the wider legal industry and are committed to providing opportunities to female lawyers who are qualified and would like to practice law with Freshfields in Vietnam.
Supporting the LGBT+ community
We are proud to support our lesbian, gay, bi and trans (LGBTQ+) colleagues in the firm and the wider LGBT+ community. Our wide range of initiatives are aimed at building a welcoming, positive and supportive environment so that everyone is comfortable to bring their whole self to work. We are working together to create a workplace where everyone can achieve their potential.
Mental health and wellbeing
We are driving an open, non-judgemental and inclusive conversation about mental health at all levels of the firm across the globe, including in Vietnam. Our ongoing commitment to create the right environment to foster open and mindful communication underlines the importance placed on mental wellbeing at Freshfields, which itself forms part of our broader thinking on employee wellbeing.
We believe that we need to have targeted initiatives and programmes, but also continue to evolve our efforts to recognise the complexity and interwoven nature of diversity, so are seeking opportunities to bring together different groups, both within the firm and in partnership with external organisations. We have been developing a number of initiatives to ensure we foster an inclusive culture where everyone has the opportunity to progress. Examples of this include our inclusive leadership workshops, a programme aimed to help leaders explore how to mitigate bias in talent decisions and strengthen leadership skills, and our reverse mentoring scheme.
Whilst we are making progress, there is more to do. Our priorities include a focus on everyday actions and inclusive leadership, our diverse talent pipeline, changing the dialogue and increasing engagement.
ESG
Environment: protecting what’s precious
Freshfields has been a consistent leader in both its environmental work for clients in Vietnam and in its own environmental commitments. Given the seriousness of the situation in Vietnam, Freshfields is now taking its engagement to an altogether higher level. Our Managing Partner, Tony Foster, together with Dominic Scriven of long-term client Dragon Capital, have recently set up the Environmental Working Group of the Vietnam Business Forum, which meets on a regular basis with the Government. This will provide a mechanism for businesses to have direct input to senior Government leaders, including the Prime Minister, on environmental issues of concern in Vietnam.
Tony Foster and Dominic Scriven have been active on environmental projects together for about 20 years, setting up Wildlife at Risk in Vietnam, establishing a large bird sanctuary area in Cambodia, and supporting the Royal Society for the Protection of Nature in Bhutan, among other thing projects.
Social responsibility and corporate governance
The way we do business at Freshfields reflects who we are and what we stand for. We want to provide our clients the best legal advice. And we want to do so responsibly.
The COVID-19 crisis and governmental responses to it are causing profound changes, affecting individuals and businesses alike. Freshfields’ Vietnam offices have done various activities to support the community to overcome the COVID-19 crisis.
- We donated healthcare masks and protective gear to doctors during the COVID-19 outbreak in Hanoi, and food and milk to children in quarantine camps in Bac Giang province.
- We support Newborns Vietnam, a UK-registered NGO dedicated to reducing neonatal mortality in Southeast Asia with a specific focus on Vietnam.
- Staff from our offices and their families have joined sports activities to raise funds for Newborns Vietnam.
- We organised ‘Giving Tuesday’ to help Newborns Vietnam buy emergency resuscitation boxes for maternity hospitals in Hanoi which could save thousands of babies’ lives.
- We do pro bono work to help REACH, a Vietnamese NGO specialised in providing vocational training, career advice and job placement services for Vietnam’s most at-risk youth.
- We donate and support activities of the UK-registered Saigon Children’s Charity, a non-profit organisation based in Ho Chi Minh City providing direct support to disadvantaged children to widen access to education in Vietnam.
- We support the Blue Dragon Children's Foundation, a charity that helps street kids and children with disabilities. The Blue Dragon Foundation also rescues kids from slavery and human trafficking in Vietnam.
- We support the Christina Noble Children's Foundation, one of the longest serving NGOs in Vietnam, which provides support for the physical, mental, educational and emotional needs of vulnerable children.
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- Vietnam Anti-trust and Competition Monitor Perspective
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- Vietnam TMT SectorKey business and legal developments in Vietnam Perspective
- Vietnam Bancassurance Sector Briefing
- Managing Risk in Asia #9: Southeast Asia – time to shine? Podcast
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“Exceptional reputation for advising on complex M&A transactions in Vietnam, with additional expertise in corporate restructuring and investment matters. Regularly represents clients in the energy, technology, education and banking sectors, among others. Especially active for private equity investors in the Vietnamese market. The team has extensive experience advising foreign strategic investors on the acquisition of major SOEs. Also acts for prominent local corporates.”
Chambers Asia Pacific, 2021, Corporate and M&A
“Freshfields is a “respected banking and finance practice operating across a range of project, acquisition and asset finance deals, as well as restructuring mandates. Additional strength in capital markets, acting as counsel for numerous international investment banks on securities, derivatives, and equity and debt mandates. Frequently mandated on banking M&A and equitisation deals involving global financial institutions.”
Chambers Asia Pacific, 2021, Banking and Finance
“Prominent local team demonstrating impressive credentials across the power, infrastructure and natural resources sectors. Regularly advises on the development of large-scale power projects and on minerals and mining issues, as well as renewable energy and water projects. Highly experienced assisting on BOT-financed power projects and offers additional expertise on transport infrastructure projects. Also active on big-ticket transactions in the real estate sector on behalf of leading domestic and international investors.”
Chambers Asia Pacific, 2020, Infrastructure Projects and Energy
“Exceptional reputation for advising on complex M&A transactions in Vietnam, with additional expertise in corporate restructuring and investment matters. Regularly represents clients in the energy, technology, education and banking sectors, among others. Especially active for private equity investors in the Vietnamese market. The team has extensive experience advising foreign strategic investors on the acquisition of major SOEs. Also acts for prominent local corporates. The team earns praise from a client, who attests: "They are always responsive, providing valuable answers, and they are open to thinking outside of the box."
Chambers Asia Pacific, 2020, Corporate M&A
“Sought after by a roster of high-profile global clients for a variety of contentious issues and international arbitration work. Especially well placed to handle corporate investigation, compliance and fraud-related matters. Additionally well placed to assist clients with anti-competition, environmental and shareholder cases. Works closely with its international offices, including in Singapore, Japan and Europe, to bring significant arbitration experience to bear.”
Chambers Asia Pacific, 2020, Dispute Resolution
“Freshfields Bruckhaus Deringer is recognised as a market leader in Vietnam and top tier across all financial and corporate practice areas. The firm is one of the few firms in Vietnam that can boast a restructuring practice.”
IFLR1000, 2020, Finance and Corporate
“Freshfields Bruckhaus Deringer has undertaken some of the largest deals in the Vietnamese market, particularly in M&A and finance. The firm has expertise in local in addition to its international law.The firm has been active across all practice areas. It has been involved in a number of deals in the power sector transactions, such as the Mong Duong Project 2 Power Project, the largest private sector power project in Vietnam.”
IFLR1000, 2020, Finance and Corporate
“[Freshfields has] Sophisticated transactional practice, frequently instructed by international clients on investment in Vietnamese TMT targets. Sought out for headline acquisitions and corporate structuring mandates related to e-commerce, online gaming and telecoms. Able to utilise firm-wide expertise on major telecoms projects. Active in the media space, advising on PR and advertising matters. Its clientele includes domestic and global telecoms providers, technology and media companies, and financial institutions. Also well placed to advise international companies operating online marketplaces on their business expansion into Vietnam.” Chambers Asia-Pacific, 2020, Technology, Media, Telecoms
“The team is often recommended by clients on the basis of their expertise, as one client comments: "They give good advice, turnaround is very quick and they have deep knowledge and understanding of the transaction."
Chambers Asia-Pacific, 2020, Technology, Media, Telecoms
“The firm is commended by clients for its "timely delivery and useful advice." Chambers Asia-Pacific, 2020, Technology, Media, Telecoms
“Exceptional reputation for advising on complex M&A transactions in Vietnam, with additional expertise in corporate restructuring and investment matters. Regularly represents clients in the mining, retail, banking and automotive sectors, among others. The team has extensive experience advising foreign strategic investors on the acquisition of major SOEs. One satisfied client says: "The quality is very high, we are always happy with their professionalism."
Chambers Asia Pacific, 2018, Infrastructure Projects and Energy
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Corporate Social Responsibility Recognition Award for two consecutive years in 2017, 2018, 2019, 2020
American Chamber of Commerce
IFLR Asia Future Leaders 2021, awarded to Senior Associate An Hoang Ha. IFLR Asia Future Leaders 2021 award recognises the next generation of influential lawyers working within corporate finance throughout the continent.
Chambers Asia-Pacific Awards for Excellence 2016
Vietnam Law Firm of the Year
Ministry of Justice Medal for the Development of Vietnam’s Legal System, awarded on 10 March 2016 to Tony Foster, Managing Partner of our Vietnam offices, by Vietnam’s Minister of Justice
Ministry of Justice Medals for Excellent Legal Service, awarded in March 2015 and March 2016 by Vietnam’s Minister of Justice
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