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Vietnam
Vietnam
With offices in Hanoi and Ho Chi Minh City, our Vietnam team helps an expanding domestic and international client base profit from the country’s increasing competitiveness as an investment destination.
Vietnam Offices
Award-winning legal services in one of the world’s fastest-growing economies.
Tilleke & Gibbins has been present in Vietnam since 1992, when it became the first foreign law firm in the country to be granted a license to establish a representative office. Since then, with offices in Hanoi and Ho Chi Minh City, our firm has grown in step with Vietnam’s vibrant economy, helping businesses capitalize on the abundant trade and investment opportunities fueled by the country’s economic and political reforms, as well as its accession to ASEAN, the WTO, and bilateral and multilateral treaties like the CPTPP and EVFTA.
We are now one of the largest and most well-known law firms in Vietnam, providing a full range of corporate legal services in the areas of commercial transactions and M&A, labor and employment, real estate, technology, franchising, and more. Our award-winning intellectual property practice, widely recognized by global surveys and directories as one of the best in the country, advises clients on IP registration, enforcement, and commercialization, and partners with local associate T&G Law Firm LLC (TGVN), a licensed law firm and IP agent, to carry out IP filings in Vietnam.
Vietnam | Capital Markets, Corporate/M&A
Acted for VinHMS in Complex Share Swap with U.S.-Based Company
Acted as lead counsel to VinHMS in a complex share swap with U.S.-based Vemanti Group (OTCQB: VNMT), coordinating with Morgan Lewis to facilitate the cross-border elements of the deal. As a result of the transaction, VinHMS will continue as a wholly owned subsidiary of Vemanti Group, with current CEO Hoang (Eric) Nguyen being appointed as the new CEO of Vemanti.
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Vietnam | Technology | Corporate/M&A
Assisted Regional Tech Startup Carousell on Major M&A in Vietnam
Assisted Carousell with due diligence, documentation preparation, and filings with Vietnamese licensing authorities in connection with its M&A with a subsidiary of a Norwegian telecommunications company, a deal that valued the combined company at USD 850 million.
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- Assisted a Singapore-based e-commerce marketplace operator with due diligence, documentation preparation, and filings in relation to its acquisition of/merger with an online classifieds company, a deal that valued the combined company at USD 850 million.
- Provide regular assistance to a global social media giant (both directly and in collaboration with other law firms worldwide) with a constant stream of legal issues concerning the company’s ongoing operations and new initiatives in Vietnam, including reviewing contracts and user agreement, and advising on numerous issues related to data privacy, processing, and protection.
- Assisted an Indian IT company in successfully negotiating a settlement with a Vietnamese bank in a USD 10 million contract dispute related to the client’s provision of licensed banking software and related support services.
- Successfully handled the Vietnam portion of one of 2017’s largest global mergers, assisting a multinational chemical manufacturing company in its acquisition of the assets of another chemical company’s Vietnam subsidiary as part of a chain of transactions resulting from a worldwide merger.
- Advised a Chinese solar energy company and prepared the application dossier to incorporate its local entity to engage in the manufacturing, processing, and exporting of solar panels and modules in Vietnam.
- Advised a technology incubator on establishing three separate WFOEs engaged in the import/export and distribution (wholesale and retail) of a variety of consumer products such as clothing and accessories, electronic devices, cosmetics, furniture, office supplies, toys, and household appliances via multiple branded retail websites.
- Assisted a U.K. biotech company on a compliance investigation of three employees in Vietnam. We reviewed thousands of documents to find the wrongdoings and suggested remedies.
- Advised an American financial services giant on regulatory requirements and draft legislation related to cybersecurity, payment services, and information networks.
- Regularly advise clients on employee negotiations, disputes, and termination both in relation to existing litigation and in an effort to mitigate litigation risks.
- Serve as lead external counsel on all legal matters in Vietnam for a multinational pharmaceutical company. Our work involves contract review, guidance on labor issues, and advice on regulatory affairs and Vietnam’s legal landscape.
- Represented a world-leading manufacturer of coding, printing, and laser marking products and won a precedent-setting victory in which the court awarded record attorney’s fees to the plaintiff. Managing Intellectual Property magazine selected the victory as its Case of the Year for Southeast Asia in 2014.
December 20, 2024
With intellectual property playing an ever-increasing role in economic development, the need to harness, promote, and protect ASEAN innovation remains urgent as integration progresses. Among its objectives, the ASEAN Economic Community aims to transform the region into a hub of innovation and competitiveness and ensure that the region remains an active participant in the international IP community. With ASEAN member states increasing IP generation and further committing to global IP regimes, the region is increasingly looking toward sophisticated IP ownership and holding structures. IP Holding Companies ASEAN-based companies continue to centralize ownership of their IP assets in offshore holding and licensing vehicles—an approach multinational companies headquartered elsewhere have been using for a number of years. IP-intensive companies look to locate their IP portfolios in low-tax jurisdictions with strong IP registration and protection laws. The company then licenses the IP to operating companies in the group or to third-party licensees, franchisees, agents, distributors, and other partners in return for royalties or license fees. These special-purpose vehicles are typically referred to as IP holding companies. IP holding companies are popular because they can help corporations minimize tax, gain tax benefits or concessions, protect IP from bankruptcy or other claims against the parent company, and focus management attention on the IP portfolio as an income generator. Tax and IP Holding Companies Tax is the primary reason most companies park their IP in separate IP holding vehicles. Sometimes, companies choose to establish their IP holding company in a no-tax, low-tax, or preferred-tax jurisdiction close to their home country. The selected jurisdiction should also be a country with a large and well-established tax treaty network. Double taxation treaties are key considerations in jurisdiction shopping. If the IP assets need to be pledged as security for future borrowings or if they are to be included
December 13, 2024
Experts from Tilleke & Gibbins have provided updates for the latest edition of The Pharma Legal Handbook: Vietnam, published by Pharma Boardroom. This comprehensive guide to the legal framework regulating the healthcare and life sciences industries in Thailand was authored by by the Hanoi-based team of Hien Thi Thu Vu, head of regulatory affairs for Vietnam, and Mai Thi Le, regulatory affairs consultant, the handbook is a must-read for healthcare and life sciences companies that are interested in the Vietnam market. The guide includes eight sections on various important aspects of local regulations: Regulatory, Pricing, and Reimbursement Overview Preclinical & Clinical Trial Requirements Marketing, Manufacturing, Packaging & Labeling, and Advertising Traditional Medicines and Over-the-Counter Products Product Liability Patents and Trademarks Regulatory Reforms Orphan Drugs and Rare Diseases Tilleke & Gibbins has also authored The Pharma Legal Handbook: Thailand, which was updated at the same time as the Thailand guide. The Pharma Legal Handbook: Vietnam, like all of the country guides from Pharma Boardroom, is available for purchase on the Pharma Boardroom website.
December 12, 2024
Vietnam is a world leader in blockchain adoption and growth, appearing near the top of most rankings of cryptocurrency ownership and blockchain investment. Although the country has taken a cautious approach toward cryptocurrency (banning the use of cryptocurrencies like Bitcoin as a means of payment, for example), the government actively supports blockchain technology and its applications in non-financial sectors. Recognizing blockchain as a core technology of the Fourth Industrial Revolution, as a part of Vietnam’s broader digital transformation agenda, the government issued Decision No. 1236/QD-TTg on October 22, 2024, providing the National Strategy for Blockchain Application and Development to 2025, with Orientation to 2030. Like the National Strategy on Digital Infrastructure, the National Strategy on Blockchain outlines a very ambitious vision to position Vietnam as a regional leader in blockchain technology. The strategy aims for Vietnam to master and apply blockchain across all socio-economic sectors, supporting the nation’s goal of becoming a stable and prosperous digital nation by 2030. The specific goals set for 2025 include developing Vietnam’s blockchain infrastructure and ensuring compliance with cybersecurity and data protection laws; advancing blockchain research through three national innovation centers; building and upgrading 10 facilities dedicated to blockchain research and workforce training; and expanding blockchain education by integrating it into university programs. The strategy also aims to establish at least one blockchain center, special zone, or area, as a pilot, to build a national blockchain network; and foster a blockchain ecosystem by promoting its application across sectors such as banking and finance, transportation, healthcare, education and training, commerce, logistics, postal services, industrial production, energy, tourism, agriculture, public services, and more. The goals for 2030 include strengthening Vietnam’s national blockchain infrastructure to support both domestic and international services, positioning Vietnam as a global and regional leader in blockchain research, application, and development. The
December 12, 2024
On November 21, 2024, the National Assembly of Vietnam adopted a law amending and supplementing the 2016 Law on Pharmacy (“Amended Law on Pharmacy”). The Amended Law on Pharmacy simplifies some procedures for the pharmaceutical field, and will take effect on July 1, 2025, except for regulations on drug registration and rights and responsibilities of certain types of pharmaceutical business. Some outstanding points in the Amended Law on Pharmacy are presented below. E-commerce Distribution The Amended Law on Pharmacy allows trading in pharmaceutical products by the e-commerce channel, including e-commerce trading floors, e-commerce sales applications, and e-commerce sales websites with online ordering functions. Accordingly, e-commerce retail of non-prescription drugs is permitted if the drugs are neither specially controlled drugs nor drugs included in the list of drugs restricted for retail sale, and e-commerce wholesale of drugs and drug materials is permitted, as long as they are not specially controlled drugs. New Rights for Import FIEs The amendment provides some additional rights to foreign-invested enterprises (“FIEs”) that import drugs, including the rights to: Repurchase drugs and drug materials manufactured through the technology transfer of the FIE itself in Vietnam, and sell such products to wholesalers; Import drug materials to supply to drug manufacturers in Vietnam that are hired by or receive technology transfer from the FIE itself under a processing contract or technology transfer contract; Deliver and transport drugs and drug materials the FIE has imported, outsourced for processing, or transferred technology for in Vietnam, from the FIE’s warehouse to its wholesalers; Deliver and transport drugs used in aid, sponsorship, humanitarian, and disease prevention and control programs to medical facilities receiving funding; and Transport drug materials imported by the FIE from its warehouse to drug manufacturers that are hired by or receive technology transfer from the FIE itself under a
December 13, 2024
The recently released 2025 edition of Chambers Asia-Pacific gives Tilleke & Gibbins high marks across all the firm’s jurisdictions in Southeast Asia. In addition to the exceptional practice-area rankings, individual practitioners from the firm’s offices across the region received a total of 34 individual rankings.
November 26, 2024
Tilleke & Gibbins has been named to the Asian Legal Business (ALB) Fast 30: Asia’s Fastest Growing Firms 2024. The ranking highlights law firms across Asia that have demonstrated significant growth and leadership in a competitive and evolving legal landscape. Selection for the ALB Fast 30 is based on metrics such as growth in fee-earners, new office openings, the addition of key partners and clients, revenue increases, and other measures of expansion. This is the second time Tilleke & Gibbins has been included on the list, having previously earned recognition in 2022. The Fast 30 ranking complements ALB’s annual Top 50 Largest Law Firms feature, which evaluates firms by total lawyer headcount. While not included among the region’s largest firms, Tilleke & Gibbins continues to be prominently ranked by ALB for its presence in Thailand and Vietnam. For more about the ALB Fast 30 and to see a full list of the Asia’s fastest growing law firms, please see the November 2024 issue of ALB.
November 18, 2024
Tilleke & Gibbins has been recognized with six awards at the Asia IP Awards 2024, which took place in Manila on November 17. The firm’s regional intellectual property practice was honored for its excellence in multiple jurisdictions and categories, including the prestigious title of Asia Pacific Patent Firm of the Year. The awards also highlighted Tilleke & Gibbins’ achievements in specific jurisdictions: Cambodia: Patents Indonesia: Patent Prosecution Laos: Intellectual Property Thailand: Patent Contentious Vietnam: Copyright The Asia IP Awards celebrate top-performing IP practices across the Asia-Pacific region, with winners selected through an extensive polling process of more than 5,000 in-house counsel from Asia, Europe, and the Americas conducted during early 2024. For more information on the Asia IP Awards 2024 and to browse a full list of the winners, please visit the Asia IP website.
September 30, 2024
Tilleke & Gibbins has once again been recognized in the 2024 Asian Legal Business M&A rankings, retaining its Tier 2 position for both Thailand and Vietnam. This marks the 11th consecutive year that the firm has been acknowledged in the publication, reflecting its sustained strength in the M&A market across the region. The magazine’s M&A rankings evaluate firms based on several key metrics, including the volume, complexity, and size of transactions handled, as well as the firm’s presence across Asia. The rankings also take into account key personnel hires and the overall growth of each practice group. The evaluation period for the 2024 edition spanned from August 2023 to July 2024. Tilleke & Gibbins’ representation in the Thailand and Vietnam rankings reflects the firm’s reputation for consistently strong support of corporate transactions across Southeast Asia. Asian Legal Business, owned by Thomson Reuters, is a leading source of information for legal professionals active in the region. To learn more about the M&A rankings, and to browse the full rankings, please see the Asian Legal Business website.
Hanoi Office
Hanoi Office
789 Office Building, 9th Floor, 147 Hoang Quoc Viet Street, Cau Giay District, Hanoi
Ho Chi Minh City Office
Ho Chi Minh City Office
Viettel Tower A, 25th Floor, Suite 2506, 285 Cach Mang Thang Tam Street, District 10, Ho Chi Minh City
