Cross-border listing structuring for PRC groups with Vietnam manufacturing subsidiaries — coordinating CSRC filing, HKEX admission, and Vietnam-side compliance A Chinese manufacturing group moving part of its production to Vietnam usually treats the factory as an operational decision. Once that group starts preparing a Hong Kong IPO, the Vietnam plant stops being an operational footnote…
Insights & News
Legal & Investment Insights
Analysis and practical guidance from IVLF Advisors LLC on Vietnamese law, foreign direct investment, M&A, capital markets, tax, labor and dispute resolution — written for investors and business leaders operating in Vietnam.
Minority shareholder protection Vietnam law affords is often weaker in practice than investors assume. Many investors put capital into a joint-stock company holding less than 51%, trusting that the charter and company law will protect them when it matters. Commercial reality often shows the opposite: a controlling shareholder can lawfully dilute a minority stake through…
Most Vietnam M&A disputes are not caused by fraud. They are caused by ambiguous drafting, mismatched expectations about post-closing adjustments, and warranties that were negotiated but never actually tested against the target’s real financial and regulatory condition. Understanding the recurring M&A disputes Vietnam pattern — where reps and warranties, MAC clauses, earn-outs, price adjustments and…
Closing a share purchase agreement in Vietnam does not close the data privacy file — it opens a new one. The moment a buyer takes control of a Vietnamese target, it inherits that company’s customer databases, employee records, and vendor contact lists, and with them a fresh set of obligations under Vietnam’s personal data protection…
When a Vietnam M&A deal collapses mid-negotiation or a completed acquisition unravels over a breached warranty, escrow dispute, or earnout disagreement, an arbitral award in the investor’s favour can feel like the end of the fight. It is usually only the beginning. Arbitral award enforcement Vietnam proceedings determine whether that award becomes cash and control,…
Foreign investors buying into a Vietnamese school or training centre face a licensing regime that most other sectors do not: a hard cap on how many Vietnamese pupils a foreign-invested school may enrol, minimum capital and campus-infrastructure thresholds that vary by education level, and a multi-agency approval process that can quietly stall a signed deal…
When a foreign or domestic buyer signs a share purchase agreement for a Vietnamese target, the workforce rarely stays quiet. A trade union M&A Vietnam issue that is treated as an HR afterthought can become a Closing-day blocker, a post-Closing labour dispute, or a hidden liability that erodes the value the buyer thought it paid…
Choosing between a joint venture and acquisition is the single decision that most shapes a foreign investor’s risk, control and exit position when entering Vietnam. A joint venture vs acquisition Vietnam analysis is not a formality for the closing memo — it determines who appoints the general director, how disputes get resolved, how much capital…
The Holding Company Jurisdiction Vietnam Decision Investors Get Wrong Too Late Most foreign investors choose a holding company jurisdiction for a Vietnam deal before they have fully modelled how they will exit it. A Singapore Pte Ltd, a Hong Kong limited company, or a direct onshore investment each produce materially different outcomes on withholding tax…
Buying into a Vietnamese telecom operator is not a single transaction — it is two transactions stacked on top of each other: a corporate acquisition governed by the Enterprise Law and the Investment Law, and a licence transfer or change-of-control review governed by the Ministry of Information and Communications (MIC) and the telecommunications-specific rules under…
Why Semiconductor M&A Vietnam Deals Move Differently Than a Typical Manufacturing Buyout A wafer-test facility in Bac Ninh, a fabless design house in Ho Chi Minh City, or an assembly-and-test (OSAT) plant feeding an American or Korean supply chain: each is now a live target on the desk of a strategic buyer or private equity…
When a foreign investor prices a Vietnamese target, the purchase agreement usually spends more pages on tax and title warranties than on the workforce. That is a mistake. Employee transfer M&A Vietnam issues routinely turn into six- and seven-figure surprises after signing, because Vietnam’s Labour Code is drafted to protect employees, employment tribunals lean in…