Entering The Global Stage & YKVN’s Pivotal Role
During the 2000s, Vietnam’s rapid global integration was marked by key milestones, including its WTO accession in 2007. This period saw significant foreign investment, industrial growth, and infrastructure development as Vietnam emerged as a competitive economy. Laws on investment, enterprises, and securities transformed the business environment, promoting transparency, competition, and capital market growth.
In this transformative period, YKVN established itself as a prominent player in Vietnam’s economic development, notably introducing international-standard documentation to the syndicated loan market, advising on landmark cross-border transactions and large-scale projects, and playing a pivotal role in the Vietnam Government’s program on privatization of major state-owned enterprises.
“The best local firm in Vietnam”
IFLR
“Impressive YKVN’s professional and dedicated team”
Legal 500
“Able to offer nuanced, sophisticated advice to foreign clients with investments in Vietnam”
Chambers
Photo: U.S.-Vietnam Bilateral Trade Agreement © Vietnam News Agency
2000
U.S.-Vietnam Bilateral Trade Agreement (BTA)
Normalized trade relations with the U.S., leading to a surge in exports and attracting substantial foreign investment, accelerating economic growth.
This early influence set the stage for YKVN’s continued impact, including future key contributions to the Enterprises Law, Investment Law, and Securities Law.
Photo: Ho Chi Minh City Securities Trading Center Opening Ceremony © Vietnam Investment Review
2000
Capital Markets Development
The Ho Chi Minh Stock Exchange was established in 2000, followed by the Hanoi Stock Exchange in 2005.
This was a pivotal period for Vietnam’s capital markets, providing businesses with access to financing and driving economic modernization.
2001
Water Treatment Plant Financing: Vietnam’s First Limited Recourse International BOT Project
Advised Asian Development Bank, ANZ Bank, Credit Lyonnais, Fortis Bank and Export-Import Bank of Malaysia Berhad on the financing of a BOT vital water treatment plant for Ho Chi Minh City at Thu Duc.
The project was named “Asia-Pacific Water Deal of the Year 2001” by Project Finance.
2001
Advised Four State-Owned Banks on First Syndicated Loan Transactions
Represented Vietnam’s four state-owned banks and several international banks in their initial syndicated loan transactions, including a pioneering deal syndicated by Chinfon Bank.
This marked the first use of international-standard documentation by these banks in Vietnam. Since then, our templates have been widely adopted in the domestic syndication market, particularly by state-owned banks for corporate and project finance.
2002
Landmark Trade Defense: Vietnam’s First Major Dispute with the U.S.
Represented the Vietnam Association of Seafood Exporters and Producers (VASEP) in defending against U.S. anti-dumping measures on Vietnamese catfish exports. This pivotal case safeguarded Vietnam’s seafood industry and set a precedent for the country’s approach to international trade disputes.
2003
Inaugural IFLR Vietnam Firm of the Year
YKVN awarded 12 times over the last 20 years since the award launch: 2003, 2004, 2005, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2017 and 2023.
2004
Competition Law
Regulated anti-competitive practices and economic concentration, ensuring fair competition, and promoting innovation in a rapidly growing economy.
2005
“ALB National Deal Firm of the Year”
The first time this distinction is awarded to a Vietnamese law firm.
2005
Law on Enterprises
(revised in 2009 and 2013)
Modernized corporate governance and transparency, helping companies align with international standards and attract more foreign investors.
2005
First EPC Contract in the Steel Industry in Vietnam
Advised Southern Steel Corporation on the EPC contract for the construction of a steel plant and associated facilities in the Phu My complex.
2005
Law on Investment
(amended in 2013)
Created a unified legal framework for domestic and foreign investment, boosting foreign direct investment and modernizing the investment climate.
Photo: © Vietnam Airlines
2005
Landmark Aviation Financing: Vietnam Airlines’ US Eximbank-Guaranteed Deal
Advised Vietnam Airlines in the US Eximbank-guaranteed financing of its purchase of four Boeing 777-200 aircraft. This was the first US Eximbank guaranteed-financing in Vietnam and was named one of the “Best Deals of 2003” by Global Trade Review.
2006
Law on Securities
(amended, supplemented in 2010 and 2018)
Established Vietnam’s capital markets, facilitating the growth of stock exchanges and improving corporate governance and expanding investment opportunities.
2006
Sekaman 3 Power Plant Financing in Laos, the First BOT Power Project by Vietnamese Developers Outside Vietnam
Advised a syndicate of the four State-owned banks led by Bank for Investment and Development of Vietnam (BIDV) on a US$ 65 million construction financing of the Sekaman 3 Power Plant in Laos.
2006
Received “Deal of the Year” Award for Its Role in Dong Nai 3-4 Power Plants Financing
Played a pivotal role in the US$ 255 million financing of the Dong Nai 3-4 Power Plants in Vietnam, recognized as a standout “Deal of the Year” by Asian Counsel in 2006.
This project, sponsored by Electricity of Vietnam (EVN) and arranged by Vietcombank, showcased a unique blend of domestic and international financing, highlighting YKVN’s expertise in navigating complex project finance transactions in Vietnam.
Photo: © Vietnam News Agency (VNA)
2007
Vietnam Joins WTO
A pivotal moment in the country’s integration into the global economy.
2007
Vietnam’s First Sovereign International Bond Issuance
Advised underwriters Barclays, Citigroup, and Deutsche Bank on Vietnam’s landmark US$ 1 billion sovereign bond issuance. This historic transaction marked Vietnam’s debut in the international bond market, setting a precedent for the country’s access to global capital and enhancing its financial integration on the world stage.
Photo: © Diễn đàn doanh nghiệp
2007
Started to Advise on Vietnam’s Pioneering Privatizations and IPOs
In 2007, YKVN began advising Vietcombank on its landmark privatization, including an IPO and HOSE listing in 2007 and 2009, followed by the sale of a 15% strategic stake to Mizuho Corporate Bank in 2011.
Following this significant transaction, YKVN played a central role in Vietnam’s privatization wave, advising on other major deals, including Vietinbank’s privatization in 2008, BIDV in 2011, Vietnam Airlines in 2014, and Petrolimex in 2011.
YKVN also provided counsel on significant equity and debt capital market transactions for prominent clients such as Vinamilk, Vingroup, Masan, and Hoang Anh Gia Lai, further cementing our role as a trusted advisor in Vietnam’s economic transformation.
2007
Vinashin’s Record-Breaking $600 Million Loan Facility with Credit Suisse
Advised Vietnam Shipbuilding Industry Group (Vinashin) on a US$ 600 million loan facility arranged by Credit Suisse. This was the biggest loan facility arranged by a foreign bank for a Vietnamese borrower in 2007.
2007
First Privatization of a Large SOE Group
Advised a foreign investor on its potential investment into Bao Viet.
2007
First Privatization of a Finance Company
Advised PetroVietnam and PetroVietnam Finance Company on its sale of a strategic stake in PetroVietnam Finance Company to Morgan Stanley.
2007, 2008 and 2009
“ALB Employer of Choice”
YKVN received this title for three consecutive years.
2008
Global Financial Crisis
Challenged Vietnam’s economy, causing slowdowns but prompting policy adjustments that strengthened long-term stability and resilience.
2009 – Present
YKVN’s Leadership in the Vietnam Bar Federation
Since the inaugural term of the Vietnam Bar Federation (VBF) (2009–2014), YKVN partners have consistently held key leadership roles. Partner Truong Trong Nghia served as Vice President during the inaugural term, and in the current term, Partner Luu Tien Dzung holds this position.
Other YKVN partners, including Truong Trong Nghia, Luu Tien Dzung, Diep Hoai Nam, and Truong Nhat Quang, have contributed to the leadership of the VBF as Vice Presidents, members of the Standing Committee, or the National Council across all three terms since 2009.
