Championing Vietnam’s Growth:
YKVN’s Rise in International Markets
During this decade, Vietnam underwent rapid urbanization and witnessed the rise of local champions in sectors such as real estate, banking, consumer goods, technology, and manufacturing. These transformative years brought significant regulatory reforms, including new environmental protection, competition, and labor laws, creating a more efficient and sustainable business environment.
YKVN played a key role in shaping this dynamic landscape, advising on landmark public and private transactions as well as complex cross-border and capital market operations. We supported the rise of Vietnam’s leading private sector corporations led by Masan and Vingroup, handling their capital-raising transactions, M&A deals, and partnerships with global investment funds, as well as their market transactions.
In 2011, YKVN expanded regionally by opening its Singapore office, becoming the only Vietnam-based law firm with an international presence. This strategic step strengthened our leadership in international dispute resolution and cross-border transactions, placing YKVN at the center of Southeast Asia’s legal and financial hubs.
“Very active. We often see them in the biggest deals in the jurisdiction. […] YKVN as an equal to the magic circle firms. They work at an international standard.”
IFLR
“Experienced lawyers with a deep bench”
Chambers
“Has acted as counsel in some of the most pioneering, high value transactions.”
Asialaw
2010
National Recognition from Vietnam’s Legal Institutions
In 2010, YKVN was honored by Vietnam’s highest legal institutions, including the Minister of Justice, the Vietnam Bar Association, and the Law Academy of Vietnam, for its contributions to legal policy development, lawyer training, and elevating Vietnam’s legal profession through national and international achievements. These accolades affirmed YKVN’s leadership and dedication to advancing Vietnam’s legal landscape.
2010 – Present
YKVN Dispute Practice’s Journey from Band 1 to Sole Outstanding Firm
YKVN’s Dispute Resolution Practice has been a Band 1 leader in arbitration and litigation since 2010, earning top rankings from Legal 500 (2010-2024), Chambers & Partners (2011-2024), Asialaw (2017-2024), and Benchmark Litigation (2018-2024). In 2024, it became the sole firm in Vietnam ranked Outstanding for international arbitration.
This success is driven by Chambers-ranked Band 1 partners Luu Tien Dzung and Partner Truong Trong Nghia (2011-2024), with Partner Truong Trong Nghia also recognized as a Legal 500 Leading Individual in Litigation (2016-2024), and Senior Partner Minh Dang earning Leading Individual status in Arbitration (2022-2024).
2010
IFLR Debt and Equity-linked Deal of the Year
The first time this distinction was awarded to a Vietnamese law firm for the deal of Vincom’s US$ 100M offshore convertible bond issuance.
2011
US$ 1.8B TNK-BP Purchase of BP Vietnam Assets
Advised TNK-BP on its purchase of BP’s upstream, pipeline and electricity assets in Vietnam and Venezuela for a total cost of US$ 1.8 billion.
2011
Credit Suisse’s High-Yield Bond Issuance for Hoang Anh Gia Lai
Advised Credit Suisse on the high yield bonds issuance by Hoang Anh Gia Lai, nominated for IFLR’s “Debt and Equity Linked Deal of the Year”.
2011 – Present
YKVN Partner Serving in the National Assembly and on the Judiciary Committee
Partner Truong Trong Nghia was elected to the National Assembly of Vietnam in 2011 and appointed as a member of its Judiciary Committee. He is currently serving his third consecutive term, spanning 2011–2016, 2016–2021, and 2021–2026.
Photo: © AES Mong Duong Power
2011
Landmark US$ 1.3B Project Financing: Mong Duong 2 BOT Power Project
Advised KEXIM and the lenders on the US$ 1.3 billion international financing of the Mong Duong 2 project, Vietnam’s first BOT power project to reach financial close since Phu My 2 in 2003. Recognized as “Deal of the Year” by Asian Counsel.
2011
Advised Masan Group on the Acquisition of a Controlling Interest in Nui Phao Mining
YKVN was also nominated by IFLR for Asian Restructuring “Deal of the Year”, in recognition of the firm ’s leading role in this deal.
YKVN established its Singapore office
Becoming the first and only Vietnam-based law firm with an office outside of Vietnam at that time. This strategic moved positions the firm at the heart of Southeast Asia’s financial and legal hub and enabled YKVN to better serve clients in cross-border transactions and global markets.
2012
Vietinbank’s Inaugural US$ 250M International Bond Issuance
Advised underwriters Barclays and HSBC on Vietinbank’s US$ 250 million international bond issuance. This landmark transaction marked a significant step in Vietnam’s corporate access to global capital markets.
Vietinbank’s bond issuance opened the door for YKVN’s expertise in high-yield and convertible bonds, enabling us to advise leading private groups like Vingroup, Novaland, and Hoang Anh Gia Lai on complex bond issuances and to gain an unparalleled expertise.
2012 – 2013
The First Wave of Bank Restructuring and Landmark Deals
Advised on two landmark transactions that reshaped the industry: the merger of Hanoi Building Commercial Bank (HBB) into Saigon Hanoi Commercial Bank (SHB) in 2012—the first-ever merger deal in Vietnam’s banking sector—and the consolidation of PetroVietnam Finance Company (PVFC) with Western Bank to form PVcombank in 2013, the sector’s first consolidation deal.
The first wave of bank restructuring, initiated by the Government and the State Bank of Vietnam, marked a critical effort to stabilize the financial system and address weaknesses in the banking sector.
2013
Asian-Mena Counsel Deal of the Year
The strategic sale of a 15% stake in the Joint Stock Commercial Bank of Foreign Trade of Vietnam (also known as Vietcombank) to Mizuho Corporate Bank, Ltd. was recognized as one of thirty two Asian Counsel’s “Deals of the Year” for 2012.
This was the 4th consecutive year and the 6th time in the past 8 years that this distinction has been awarded to YKVN.
2013
Credit Suisse’s High-Yield Bond Issuance for Vingroup
Advised Credit Suisse on the US$ 200 million issuance by Vingroup of high-yield international bonds, shortlisted in the “High Yield Bond Deal of the Year” category.
2013
Vietnam Airlines’ Multinational Financing for Airbus Aircraft
Advised Vietnam Airlines on the ECGD-COFACE-HERMES-guaranteed financing for the purchase of three Airbus 321-231 aircraft. This significant transaction involved export credit agencies from multiple countries, showcasing Vietnam Airlines’ ability to secure complex, internationally-backed financing. This was the first combined European ECA guaranteed financing in Vietnam which received the “Asset & Corporate Finance Deal of the Year” award from Asian Legal Business.
The deal supported the modernization of Vietnam Airlines’ fleet, strengthening its position in the regional and global aviation markets. In recognition of YKVN’s expertise in this array, Vietnam Airlines chose YKVN to advise them on the following ECA backed financing of 10 other Airbus A321.
2013
Strategic Investment Success: Warburg Pincus’s Venture with Vincom Retail
Advised Warburg Pincus on the US$ 200 million strategic investment into Vincom Retail, shortlisted in the “Private Equity Deal of the Year” category.
2014
Environmental Protection Law
(amended, supplemented in 2018, 2019 and 2020)
Established environmental regulations requiring businesses to conduct impact assessments and adopt sustainable practices, responding to the growing need for environmental sustainability.
2015
Petrovietnam on its Acquisition of all of Chevron’s
Advised Petrovietnam on its acquisition of 100% of the shares of the Chevron companies with assets in Vietnam and the operatorship that are part of the Block B, Block 48&95 and Block 52/97 projects, off Vietnam’s continental shelf.
2016
Major Arbitration Case Involving Petrovietnam
Represented Petrovietnam (as co-counsel with Shearman & Sterling (Emmanuel Gaillard and Yas Banifatemi)) in a US$ multi million indemnity tax claim ICC arbitration in Singapore against a consortium of two independent oil contractors. This arbitration was an Asia Lawyer 2016 Finalist for Dispute of the Year: Arbitration.
2016
US$ 1.1B Strategic Investment by Singha Asia in Masan Group
Advised Masan Group on the US$ 1.1 billion investment by Singha Asia Holding Pte Ltd, acquiring a 25% stake in Masan Consumer and a 33.3% stake in Masan Brewery.
This landmark transaction was one of the largest foreign investments in Vietnam’s consumer sector, forming a strategic partnership that strengthened Masan’s market position and expanded Singha’s footprint in Vietnam’s fast-growing beverage industry.
2016
Landmark US$ 1.14B Acquisition of Big C Vietnam by Central Group
Advised Central Group, a leading Thai conglomerate, on its US$ 1.14 billion acquisition of Big C Vietnam from Casino Group. This significant transaction, the largest M&A deal in Vietnam in 2016, included 43 stores and 30 shopping malls under the Big C brand.
The deal marked a major expansion for Central Group in Vietnam, establishing it as a dominant player in the country’s retail sector and underscoring the growing regional integration of Southeast Asia’s retail market.
2016
Launch of the YKVN Scholarship Program
The YKVN Scholarship provided merit-based awards for third-year law students and need-based support for law students in financial need. Recipients also participated in seminars and networking events, offering them valuable insights and connections within Vietnam’s legal profession.
2017
Wins 5 National Firm of the Year Awards
The first firm in history to win 5 “National Law Firm of the Year” awards in the same year (IFLR, Chambers, ALB, Asialaw (APAC Dispute Resolution & Asia Legal Practice).
2017
On Record Acquisition of ANZ Bank’s Vietnam Retail Business
Advised Shinhan Bank Vietnam on the acquisition of ANZ Bank’s Vietnam Retail Business – the largest banking asset sale in Vietnamese until 2017.
2017
US$ 5B ThaiBev acquisition of 54% stake in Sabeco
YKVN sole counsel to Sabeco in the ThaiBev (Thailand) transaction with Sabeco, Vietnam’s leading brewer, marking a significant shift in ownership of the Saigon Beer brand.
2017
Precedent 13
Advised Eximbank in a landmark case, establishing the independent nature of Letters of Credit (L/Cs). The case, now recognized as Precedent 13, ensures that banks must honor L/Cs even if the underlying sales contract is voided, providing greater security for international trade.
YKVN’s pleading arguments were accepted by the cassation court and the cassation decision was recognized as Precedent 13 applicable for future similar cases.
Photo: © MOIT
2018
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
Vietnam joined the CPTPP, gaining access to a broader market and setting the stage for enhanced trade and investment opportunities. The agreement also pushed Vietnam to adopt higher standards in labor, intellectual property, and environmental protections.
2017 – 2018
Trung Nguyen Divorce Dispute
Advised on a legal dispute within Trung Nguyen Group following a high-profile divorce, involving the removal of a key executive.
The case addressed the division of shares and corporate brands as matrimonial assets, representing one of the largest and most complex corporate disputes in Vietnam.
2018
US$ 1.8B Investment by GIC in Vinhomes
Advised GIC, a leading Singaporean investment firm, as sole counsel on its US$1.8 billion investment in Vinhomes, one of Vietnam’s largest real estate developers.
This landmark transaction was one of the biggest foreign investments in Vietnam’s real estate sector, underscoring the appeal of the country’s property market and supporting Vinhomes’ growth as a key player in urban development.
2018
Amendments to the Competition Law
Strengthened regulations on mergers and acquisitions, ensuring market concentration remains balanced and fair, promoting consumer protection.
2018
Represented a Leading Ride-Hailing Company in Landmark Litigation in Vietnam
Advised a prominent ride-hailing company in a high-profile litigation case brought by a local taxi firm, addressing complex issues around competition and market disruption.
This landmark case set a significant precedent in Vietnam for the digital economy, clarifying regulatory and competitive practices for tech-driven services in the transport sector.
2019
Groundbreaking US$ 1B Vingroup-SK Group Strategic Partnership
Advised Vingroup (HOSE ticker: VIC) as lead counsel on its sale of a 6.1% stake to South Korea’s SK Group, marking a US$ 1 billion strategic partnership. Seeking to expand its presence in Southeast Asia, SK Group entered into a complex M&A and capital market transaction with Vingroup, acquiring a mix of primary and secondary shares.
This high-profile deal, the largest investment in a Vietnamese listed company to date, was among the most sophisticated corporate transactions in Vietnam.
2019
Cybersecurity Law
Regulated data storage and online business activities, enforcing cybersecurity measures critical for Vietnam’s growing digital economy.
2019
Amendments to the Labour Code
Updated labour laws to align with international standards, addressing issues like labour contracts, working hours, and dispute resolution in an evolving economy.
2019 – Present
Strengthened Presence in International Arbitration Panels
Senior Partner K. Minh Dang was appointed to the SIAC Court of Arbitration in 2019 and is currently serving his third term. In 2023, Partners Truong Trong Nghia and Luu Tien Dzung were also appointed to the SIAC arbitrators’ panel, while Partner Do Khoi Nguyen joined the VIAC arbitrators’ panel.
With these appointments, YKVN now has three partners on the SIAC arbitrators’ panel, four partners on the VIAC arbitrators’ panel, and one partner on the KCAB arbitrators’ panel.
