Asia Business Law Journal reveals the country’s top law firms. Byung Jin Park reports
As the world shudders under the reverberations from conflict in the Middle East, Vietnam, like most Asian jurisdictions, is not immune to ongoing restrictions on oil supply.
Vietnam’s legal sector is mobilising as fuel supply shortages bite and resulting downstream business distribution chains feel the impact. Last year, Asia Business Law Journal’s Vietnam Law Firm Awards 2025 report observed: “Power consumption across factories, businesses and households is rising to some of the highest levels in Asia.”
Given such demand, the surge in fuel prices since February has led to severe operational disruptions. Notably, Vietnam Airlines suspended 23 domestic flights per week from April this year due to shortage of jet fuel.
In response, local law firms are contributing by providing timely legal counsel to the government to facilitate a rapid regulatory response. This collaboration has resulted in the implementation of emergency measures including cutting import tariffs and environmental taxes on fuel to zero. These interventions seek to stabilise domestic supply and provide a much-needed buffer for businesses.
Despite ongoing challenges in energy supply, Vietnam’s broader macroeconomic indicators point to a period of growth. The country recorded an average annual growth rate of 6.2% between 2021 and 2025, positioning it as one of the top-performing economies among its Asean peers.
Looking ahead, the Vietnamese government targets annual GDP growth of at least 10% and a per-capita GDP of USD8,500 by 2030. In this environment, local law firms serve as a strategic bridge between government economic targets and the private sector, mitigating compliance risks for domestic and international companies.
Considering the geopolitical uncertainties and the increasingly important role of Vietnamese law firms, ABLJ proudly presents the Vietnam Law Firm Awards 2026 to recognise the country’s best for the past year. We have identified two Law Firms of the Year, four firms that have proven to be the best of the best overall in Vietnam, an outstanding boutique firm, and a new firm to watch, as well as winners in 30 other categories, each of equal standing.
By securing an identical number of 15 category wins, VILAF and YKVN have been named joint Law Firms of the Year for these 2026 awards.
In November 2025, VILAF entered a strategic collaboration with the South Korean full-service law firm Yoon & Yang to handle Korea-related work, an area where YKVN has traditionally maintained a strong presence.
For example, YKVN advised Vingroup on the USD935.5 million structured divestment of listed shares held by conglomerate, SK Group, which was closed in September 2025. The transaction involved multi-layered payment mechanics and security arrangements, requiring careful structuring to address market, regulatory and execution risks associated with large-scale divestments of listed equity.
Meanwhile, VILAF conducted legal due diligence in Vietnam for Dutch nutrition company Royal De Heus in its USD854 million acquisition of South Korean livestock business CJ Feed and Care, which was announced in October 2025.
The comparison between VILAF and YKVN extends beyond South Korea-related work to the banking and finance sector, where both firms received awards.
In a notable significant cross-border financing mandate, VILAF advised Singapore holding company TPG Asia VI SF on the restructuring and securitisation of its Vietnamese assets to facilitate a USD400 million offshore credit facility.
The financing, provided by international lenders to XCL Education Holdings and its subsidiaries, was primarily utilised for debt refinancing. VILAF assisted TPG in granting a security interest over shares held in its Vietnamese portfolio company.
YKVN also served as the lead legal adviser to state-owned energy corporation PetroVietnam, the borrower, in a USD1 billion credit financing for the Block B – O Mon project chain, designed to extract offshore gas and power at four major thermal plants in the Mekong Delta, which closed in October 2025.
Led by managing partner Truong Nhat Quang, the YKVN team managed the negotiation and documentation of the term loan facilities, ensuring alignment with PetroVietnam’s long-term operational goals for the Block B field.
Regarding YKVN, the chair of a domestic commercial bank says: “I highly value the partners and senior lawyers leading the banking & finance and corporate advisory practices.
“What stands out in particular is their ability to balance legal requirements with transaction objectives – a capability that is especially critical in complex financial transactions.”
BEST OVERALL LAW FIRMS
Baker McKenzie utilises its global network to advise on complex cross-border legal issues in Vietnam. For example, the firm leveraged its offices in Vietnam, South Korea, the Philippines and the Netherlands to advise Royal De Heus on the previously mentioned acquisition of CJ Feed and Care.
Baker McKenzie stated that the transaction supports the buyer’s long-term growth and its efforts to assist independent livestock and aquaculture farmers.
Oanh Nguyen, managing partner of Baker McKenzie in Vietnam, has 25 years of experience advising on foreign direct investment and, in the second half of 2025, she led the team advising Military Commercial Joint Stock Bank (MB) on its first USD500 million medium-term green syndicated loan.
Listed on the Ho Chi Minh Stock Exchange since 2011, MB is an established commercial bank in Vietnam with more than 35 million customers. The transaction involving co-operation with its Singapore office once again showcases the firm’s cross-border capability.
Frasers Law Company has been focusing on the strategic expansion of its infrastructure practice alongside its established expertise in the technology, media and telecoms (TMT) sector in the past 12 months. This momentum is driven by female partners Ho Thuy Ngoc Tram and Duong Thi Mai Huong.
The two partners are currently advising an undisclosed client on a data centre project in Vietnam, a sector that requires the integration of both infrastructure and TMT legal expertise. The firm’s advisory scope for the client encompasses investment structures, power supply logistics – including the process for securing capacity from the national grid – and financing frameworks for data centre developments.
In this year’s awards, Frasers receives praise from Nic Ipsen, an independent solicitor based in Perth. They collaborated to advise an Australian company on the divestment of an interest in a Singapore-headquartered entity with underlying assets in Vietnam. “[Frasers Law Company] provided high-quality advice that is pragmatic and commercially sensible, in a cost-conscious manner,” says Ipsen.
BEST BOUTIQUE LAW FIRM
- ANHISA
Following victory in the aviation category detailed in last year’s report, ANHISA has secured the Shipping & maritime award for the fourth consecutive year, contributing to winning this year’s Best Boutique Law Firm award.
Last year, the firm handled more than 20 maritime disputes. Notably, it managed a complex grounding of an iron ore carrier in Vietnam. Amid typhoon threats, the firm co-ordinated emergency salvage, commercial negotiations and general average resolution.
ANHISA aligned salvors and underwriters while managing cargo interests to protect the client’s legal standing. The firm is currently facilitating the discharge of undamaged cargo to balance commercial viability with shipowner protection as the case nears a general average adjustment.
ANHISA handled several cross-border matters throughout the year, earning praise from Shinichiro Yokota, a partner at Mori Hamada & Matsumoto in Tokyo, who collaborated with the firm on a global dispute matter, with each handling the legal proceedings in Japan and Vietnam, respectively.
“The ANHISA team was very energetic and responsive, and their advice was concise and helpful,” says Yokota.
BEST NEW LAW FIRM
- VILASIA
Vilasia was founded in March 2024 by Ngu Truong, who has more than 15 years’ experience across Vietnam, the US and Japan, including nearly a decade at Japan’s largest law firm, Nishimura & Asahi. In its first full year of operations, the firm grew to more than 19 legal professionals and served about 50 clients across a broad range of industries.
The firm has lately handled several cross-border merger filings for Thai corporations, notably Amata, CP Group, and Banpu. Led by managing partner Ngu, the firm also represented Nguyet Minh 2 during an investment in the Vietnamese aluminium recycling company by Marubeni Corporation in February 2025.
Currently, Vilasia is advising on a partner buyout in a Japan-Vietnam renewable energy joint venture, drawing on managing partner Ngu’s expertise in the Japan-related market.
Hao Tran, the CEO of Vietcetera Media in Ho Chi Minh City, reflects on his experience with the firm: “They’ve effectively served as our go-to Vietnam counsel across the full lifecycle of the business – from day-to-day commercial work to the more complex, higher-stakes transactions.”
Hao particularly notes that Vilasia is “commercially pragmatic”, adding: “They move quickly, communicate clearly, and are comfortable working alongside foreign investors and international counsel.”
Other award highlights
A&O Shearman secured eight category wins this year, the highest total achieved by any firm outside the Best Overall Law Firms.
Among those eight accolades was the Capital markets category, a practice area bolstered by the strategic recruitment of Hai Nguyen from YKVN in June 2025. Notably, the firm provides ongoing compliance support for Vingroup, its electric vehicle subsidiary, after the latter’s Nasdaq listing in August 2023.
This includes advising on quarterly and annual reporting, insider trading policies, and maintaining the corporate governance standards required of a US-listed foreign private issuer. Due to the successful advisory service of A&O Shearman, VinFast successfully reported its full-year 2025 results in March 2026, and also unveiled new luxury brand Lac Hong, scheduled for commercial launch in 2027.
While the government has recently been focused on the economic development of Da Nang, the tourism hub of central Vietnam, KPMG Law Vietnam continues to advise clients with offices there, alongside those in Ho Chi Minh City and Hanoi.
Notably, the law firm is leveraging its presence in Da Nang by advising on the Da Nang International Financial Centre (IFC) project with its affiliated KPMG agencies. The firm is currently advising investors seeking to utilise the IFC’s membership framework and import duty incentives.
The firm is also currently focusing on the 1 July 2026 implementation of Vietnam’s new law on tax administration, which introduces stricter rules on “indirect capital transfers”, a change that directly affects international investors. With four country desks in Vietnam – all multilingual, in Mandarin, Japanese, Korean and Thai – the firm continues to advise international clients on the country’s evolving tax landscape.
“They have a dedicated Japan desk, and the internal communication within KPMG is very seamless,” says Kazuya Hirota, a general director at Daiwa Logistics Vietnam in Ho Chi Minh City. “We rarely experience issues like conflicting information or lack of alignment within their team.”
As the Vietnamese government enacted Decree No. 356/2025 in January 2026, establishing a regulatory framework for the Personal Data Protection Law (PDPL), law firms in Vietnam have seen an increase in related work. Among them, Rajah & Tann LCT Lawyers has stood out for continuing to provide essential advisory services in this area, earning the Data compliance & cybersecurity award.
Notably, leveraging its international network, the firm helped a confidential international client on the cross-border transfer of personal data, including preparing and filing a cross-border data transfer impact assessment with the relevant authority.
The firm is also stepping up its efforts in response to the new Law on Cybersecurity No. 116/2025, which is set to take effect on 1 July 2026. The firm is currently advising global technology companies on compliance with these data localisation requirements, including engagement with the relevant authorities. The firm’s data compliance & cybersecurity practice is led by managing partner Chau Huy Quang.
Rajah & Tann LCT Lawyers earns high praise this year for their guidance on labour laws in Vietnam. Counselling a Singapore-based private company, the firm left a lasting impression on the client’s legal counsel: “The firm provides an extremely high-quality and professional service. They are very dependable and are a pleasure to work with.”
ASL Law continues its ongoing success in the Fintech category and receives recognition once again. Among its mandates, the firm advised a cross-border software provider seeking legal support in reviewing contractual arrangements related to fintech infrastructure services, including data security, liability allocation and service continuity safeguards.
ASL Law paid particular attention to regulatory risks associated with automated financial systems and third-party integrations. In addition, the firm conducted fintech compliance audits for clients operating in e-commerce and digital finance, focusing on anti-money laundering obligations, transaction monitoring, and internal risk controls.
As well as fintech, ASL Law clinched an Insolvency & restructuring award this year. The firm supported a South Korean investor in reviewing exit options from an underperforming joint venture in Vietnam.
The engagement involved debt settlement negotiations, asset protection strategies, and corporate restructuring mechanisms designed to mitigate cross-border enforcement risks. The firm eventually helped the client to achieve a commercially viable exit while avoiding formal liquidation.
Regional law firm Tilleke & Gibbins features in our Labour & employment category for its continued working relationship with multinational clients such as Lenovo, Johnson & Johnson, and Merck.
The firm advised a technology company with the divestment of its automotive business to a global semiconductor group. While this transaction involved careful structuring of related employee transition, the firm identified possible compliance risks arising from the interim period between termination and re-hiring, and recommended mitigation measures to ensure compliance and continuity of services.
As a full-service law firm, Tilleke & Gibbins is also capable in the field of IP litigation where it won another award, acting in a notable contentious IP prosecution matter involving Hyundai Motor Company. Following a seven-year legal battle from 2018 to 2025, the company finally cleared its KONA trademark for use in Vietnam as the authorities terminated a blocking trademark held by an individual since 2016.
Lead partner Linh Thi Mai Nguyen, who heads trademark at the Vietnam branch, handled this matter that included filing a non-use cancellation request.
As part of the global Dentons network, Dentons LuatViet handled nearly 200 corporate matters for both local and international clients in the past year.
Among its recent highlights was the acquisition by Japanese digital services and online gaming company Appirits of software company Bunbu Joint Stock Company, a Vietnam-based firm specialising in web and mobile development. Announced in August 2025, the transaction was valued at USD241 million, comprising an initial cash payment of USD66.6 million and USD174.4 million in earn-out payments. This transaction contributed to the firm winning the Inbound investment category.
Dentons LuatViet has continued to maintain working relationships with its Vietnam-headquartered clients, too, including recycler Duy Tan Plastic, tour operator Unique Vietnam, and domestic airline Bamboo Airways. The firm also advised a domestic public company on issuing debt and equity securities, including negotiation procedures with regulatory bodies and financial institutions. Managing partner Tran Duy Canh leads the capital markets practice.
Since the inception of the Vietnam Law Firm Awards in 2023, DNA Vietnam has secured recognition annually, reinforcing its position as a leading boutique firm with a specialised focus on the TMT sector.
However, DNA Vietnam’s most significant recent activity has been in the Inbound investment category, driven by the expansion of its advisory services on semiconductor and advanced manufacturing, a core part of Vietnam’s economy.
The firm has advised several foreign investors on establishing semiconductor manufacturing facilities in Vietnam, managing investment licensing, regulatory approvals, project structuring and compliance. These mandates have broadened the firm’s profile beyond its established TMT practice to include legal counsel on complex, large-scale cross-border investments.
Finally, as a winner in the Fintech category, the firm advised Ho Chi Minh City Stock Exchange on regulatory aspects of a large-scale securities trading system modernisation project, addressing procurement strategy, technology contracting, data governance, cybersecurity and capital markets compliance.
Chavanut Chaiyanun, a director at Gunkul Engineering based in both Bangkok and Ho Chi Minh City, praises the firm: “They don’t just interpret the law, they provide ‘business-first’ solutions. Their ability to navigate complex administrative procedures in Vietnam is exceptional, saving us significant time and mitigating risk.”
Dzungsrt & Associates is a leading boutique firm in the country, winning awards in the Aviation, Shipping & maritime, and Arbitration & ADR categories.
The firm’s reputation in these fields has strengthened in the past 12 months through its engagement as Vietnam counsel in a GBP155 million (USD210 million) cross-border aircraft leasing dispute before the High Court of England and Wales, involving the termination and enforcement of long-term aircraft lease agreements with a Vietnamese airline.
The firm is also working on a cross-border aviation litigation before the courts in Singapore, as well as administrative and civil proceedings in Vietnam, initiated by shareholders of a Vietnamese airline.
This dispute raises complex issues concerning the recognition and enforcement of foreign judgments, the interaction between private commercial claims and public-law remedies, and the cross-border co-ordination of enforcement strategies across multiple jurisdictions.
In the shipping sector, the firm advised on a USD50 million oil spill involving two foreign-flagged vessels on the Long Tau River. This case was legally significant for its complex co-ordination between Vietnamese authorities, foreign courts and multiple stakeholders, including salvors and insurers. Dzungsrt & Associates represented the foreign insurer and vessel owner, ensuring compliance with local regulatory and maritime objectives.
In this year’s awards, Global Vietnam Lawyers (GV Lawyers) received recognition in the Environmental, social and governance (ESG) category for its advisory work for PRO Vietnam, a coalition of leading foreign-invested and domestic companies operating across the consumer goods, packaging, retail and import sectors.
As sole legal adviser to PRO Vietnam, GV Lawyers advise on environmental law matters related to extended producer responsibility (EPR) and reviews contracts between the coalition and its suppliers, vendors and recyclers for ESG compliance purposes. The members of PRO Vietnam include Coca-Cola Vietnam and Tetra Pak Vietnam.
GV Lawyers also received the Real estate award for the second consecutive year. Notably, the firm recently advised a prominent international manufacturer on real estate-related insurance claims, required to restore and stabilise the company’s operations in northern Vietnam, following a major fire incident.
As well as corporate clients, the firm continues to advise individuals on real estate matters including property management and ongoing legal changes to protect their interests. Recently, the firm expanded its focus on property management into comprehensive wealth succession management, with special input from its partner, Tran Thanh Tung.
Vision & Associates noted to ABLJ that the firm has grown in capacity during the past 12 months, with one partner promotion and seven new hires. While maintaining a strong IP practice, the firm has seen a notable increase in insolvency & restructuring mandates recently, and won awards in the IP prosecution and Insolvency & restructuring categories.
The firm was Vietnam counsel to several multijurisdictional corporations, including Tenneco and Appen, advising on Vietnamese law aspects of subsidiary restructuring and implementation. Tenneco specialises in automotive components worldwide, while Appen is an Australian AI-driven data company.
Gamuda Land, a Malaysian property developer with operations in Vietnam, also engaged Vision & Associates to advise on corporate implementation steps under Vietnamese law and the necessary regulatory approvals. Hoang Hai Van, business marketing manager at Daewoo Engineering & Construction Vietnam, praises Vision & Associates as their retainer legal counsel on various matters. “They are very enthusiastic in advising us on legal issues and finding the most suitable solutions for my company,” says Hoang. “They have many years of experience in real estate consulting and have built a strong reputation in the market.”
Following a year of meeting its internal business objectives, ADK Vietnam Lawyers has expanded its physical footprint in the past 12 months, doubling its office capacity in response to a rise in client mandates.
With an award in the Compliance & corporate governance category, the firm represented a portfolio of foreign-related entities, including Skyworld and Nedspice, with work including shareholder resolutions and restructuring alongside managing statutory licensing requirements such as Investment Registration Certificates and Enterprise Registration Certificate amendments.
In addition, ADK advised on complex corporate changes, capital restructuring, governance alignment with regional headquarters and regulatory risk mitigation under Vietnam’s evolving legal framework. “ADK has assisted me to review the transfer of ownership of a Vietnam company to a Singaporean investor, where ADK helped reviewing the possibility of transferring 100% ownership, and possible conditions and restrictions imposed by the Vietnam government to foreign investors,” says Brian Nguyen, a country manager at BoardRoom Vietnam in Ho Chi Minh City.
“Besides the experienced partners, ADK is growing strongly with capable and energetic team members who I believe will play key roles in the firm’s development.”
- Law Firms of the Year
- Best Overall Law Firms
- Best Boutique Law Firm
- Best New Law Firm
- Arbitration & ADR
- Artificial intelligence
- Aviation
- Banking & finance
- Capital markets
- Competition & antitrust
- Compliance & corporate governance
- Corporate & commercial
- Data compliance & cyber security
- Energy & natural resources
- Environmental, social and governance
- Fintech
- Inbound investment
- Infrastructure & project finance
- Insolvency & restructuring
- Insurance & reinsurance
- IP Litigation
- IP Prosecution
- Japan practice
- Korea practice
- Labour & employment
- Litigation
- Mergers & acquisitions
- Outbound investment
- Private equity & venture capitals
- Real estate
- Shipping & maritime
- Structured finance & securitisation
- Taxation
- Technology, media & telecommunications
- ANHISA
- VILASIA
- A&O SHEARMAN
- ASL LAW
- BAKER MCKENZIE
- TILLEKE & GIBBINS
- ANHISA
- DZUNGSRT & ASSOCIATES
- FRASERS LAW COMPANY
- RAJAH & TANN LCT LAWYERS
- BAKER MCKENZIE
- GLOBAL VIETNAM LAWYERS
- LNT & PARTNERS
- VILAF
- ADK VIETNAM LAWYERS
- DENTONS LUATVIET
- HM&P LAW FIRM
- KPMG LAW VIETNAM
- FRASERS LAW COMPANY
- KPMG LAW VIETNAM
- RAJAH & TANN LCT LAWYERS
- TILLEKE & GIBBINS
- BAKER MCKENZIE
- FRASERS LAW COMPANY
- GLOBAL VIETNAM LAWYERS
- RAJAH & TANN LCT LAWYERS
- ASL LAW
- DNA VIETNAM
- INDOCHINE COUNSEL
- YKVN
- ASIA COUNSEL
- DENTONS LUATVIET
- DNA VIETNAM
- KPMG LAW VIETNAM
- ASL LAW
- BIZCONSULT
- KPMG LAW VIETNAM
- VISION & ASSOCIATES
- ANHISA
- BAKER MCKENZIE
- FRASERS LAW COMPANY
- VINA LEGAL
- AGELESS IP ATTORNEYS & CONSULTANTS
- BROSS & PARTNERS
- ROUSE
- TILLEKE & GIBBINS
- ASL LAW
- IPMAX LAW FIRM
- PHAM & ASSOCIATES
- VISION & ASSOCIATES
- KPMG LAW VIETNAM
- MORI HAMADA & MATSUMOTO
- NISHIMURA & ASAHI
- VISION & ASSOCIATES
- BAKER MCKENZIE
- PHUOC & PARTNERS
- RAJAH & TANN LCT LAWYERS
- TILLEKE & GIBBINS
- BAKER MCKENZIE
- GLOBAL VIETNAM LAWYERS
- VILAF
- YKVN
- ANHISA
- DZUNGSRT & ASSOCIATES
- FRASERS LAW COMPANY
- RAJAH & TANN LCT LAWYERS
- A&O SHEARMAN
- ASL LAW
- KPMG LAW VIETNAM
- YKVN
- BAKER MCKENZIE
- DFDL
- FRASERS LAW COMPANY
- KPMG LAW VIETNAM
- DNA VIETNAM
- FRASERS LAW COMPANY
- INDOCHINE COUNSEL
- TILLEKE & GIBBINS
THE JUDGING PROCESS
Winners of Asia Business Law Journal’s Vietnam Law Firm Awards 2026 were selected based on the votes, references and qualitative information received from in-house counsel and other legal professionals in Vietnam and around the world.
A voting form was posted on our website, inviting thousands of in-house counsel, lawyers at international law firms and other Vietnam-focused professionals to vote. At the same time, Vietnamese law firms were asked to make submissions in support of their candidacy for the awards.
These submissions, combined with research by Asia Business Law Journal’s editorial team, played a supporting role in the judging process. All Vietnamese law firms were automatically eligible for inclusion in the awards process. As always, there were no fees or any other requirements for entry.
