Ho Chi Minh City, March 2017

ANZ has signed an agreement to sell its retail business in Vietnam to Shinhan Bank Vietnam, part of a broader retreat from Asia retail banking.

According to the news, ANZ’s retail business served 125,000 customers in Vietnam and included US$547 million in deposits and US$161 million in lending assets as of September 2016, with 8 branches and 289 employees.

The deal, subject to regulatory approval and expected to be completed by the end of 2017, is the latest step in ANZ’s retreat from the retail banking sector in Asia. After the retreat, ANZ Vietnam will continue to operate with a focus on the institutional client business.

The acquisition will increase the total asset of Shinhan Bank’s Vietnamese operation to US$3 billion, the number of credit card customers to 160,000 and employees to more than 1,300, making it the biggest foreign bank in the country by asset.

The VILAF team advising this deal was led by Partner Vo Ha Duyen and includes Partner Pham Si Hai Quynh, Senior Associate Nguyen Thanh Tung and Senior Associate Nguyen Thi Kim Anh.

By Kevin Hawkins and Nguyen Thi Phuong Nga
Ho Chi Minh City, March 2017

logistics

Upon accession to the World Trade Organization (WTO), Vietnam opened market access to various services including logistics services. In this regard, the Government issued Decree 140/2007/ND-CP (Decree 140) as an effort to incorporate WTO commitments into domestic law. However, Decree 140 revealed certain problems in practice during its decade of implementation. One of those problems is that classification of the logistic services under Decree 140 does not match with classifications in the WTO commitments. In addition, Decree 140’s wording is unclear, which has in turn created room for different interpretations by various implementing authorities.

Hanoi, 15 March 2017

COMMENTS ON THE DRAFT DECREE IN REPLACE OF DECREE 42/2014/ND-CP ON MANAGEMENT OF MULTI-LEVEL MARKETING BUSINESS

20170315 comments on draft decree on mlm business--1

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By Vo Ha Duyen, Diem Phan
Ho Chi Minh City, 20 February 2017

Eight years after the lapse of the phase-in schedule for its relevant WTO commitment, Vietnam for the first time is setting forth a legal framework for foreign invested enterprises (“FIEs”) to trade in drugs and drug ingredients to fulfill its WTO Commitments. With the long-awaited new Pharmaceutical Law taking effect this January 2017 and the draft of the decree implementing the Pharmaceutical Law (“Draft Decree”) being finalized for issuance, pharmaceutical FIEs appear to be able to exercise their trading right in a very near future.

In this briefing, the “Pharmaceutical Law” refers to the new Pharmaceutical Law and the “2005 Pharmaceutical Law” refers to the old Pharmaceutical Law, which has been in effect since 2005 and which was superseded by the new Pharmaceutical Law in January 2017.

VILAF, 20 November 2016

The 2016 Edition of IFLR1000 and the 2016 Edition of Legal 500, which were launched this month, continue to rank VILAF as a first tier law firm in all major practice areas ranked by these editorials, including Corporate/M&A, Banking & Finance, Capital Markets, Infrastructure and Projects, Dispute Resolution, etc.

Hanoi, 25 August 2015

Dang Duong Anh, managing partner, and Mai Chi, an associate of Vietnam International Law Firm (VILAF-Hong Duc), Hanoi Office, analyse the legal challenges of M&A transactions in Vietnam

Ho Chi Minh City, 19 August 2016

At the Annual Vietnam M&A Forum 2016 on 18 August 2016 held in Ho Chi Minh City, VILAF again won the Best M&A Law Firm of the Year Award.

Ho Chi Minh City, 21 May 2016

Two months after winning the prestigious IFLR awards, Vietnam National Law Firm of the Year and Project Finance Deal of the Year, VILAF took home more awards from Asian Legal Business (ALB) South East Asia Law Awards 2016 on May 20, 2016 at Fullerton Hotel in Singapore.

Vilaf