WLG Member Firm Spotlight: VILAF
ABOUT VILAF
More than 100 delegates are meeting this week in Da Nang, Vietnam for WLG's Fall Semi-Annual Conference, hosted by Vietnamese member firm VILAF. Learn more about VILAF, the opportunities in Vietnam, and the firm's history in World Law Group.
Share a brief history of your firm.
VILAF started in 1993 as a small group of lawyers working exclusively for well-known multinational law firm based in UK, Clifford Chance. This was the time when Vietnam was still in the early stages of establishing business law. In 1998, VILAF became independent of Clifford Chance.
VILAF has worked alongside the government helping shape and develop Vietnam’s system of business and investment laws.
In February 2013, VILAF merged with the leading boutique energy law firm, LDV Lawyers active in the energy and natural resources sector in Vietnam.
Today, VILAF is one of the largest law firms in Vietnam with 14 partners and 70 lawyers.
Consistently ranked among the top-tier law firms in Vietnam by international legal guides, VILAF has lawyers who have extensive international legal practice experience and are qualified to practice law in other countries including the US, UK, Korea, and the Philippines.
What are the firm’s key strengths?
VILAF was formed during the dawn of Vietnam’s foreign investment laws and has ever since worked alongside with the development of Vietnam’s system of business and investment laws, with the growth of the Government’s experience in handling business legal matters and most importantly with the growth of our clients’ Vietnam business.
VILAF understands Vietnam’s culture and policies as they affect the legal development and interpretation of the laws.
VILAF has strong background and extensive experience in major legal practice areas including Corporate and M&A, Banking & Finance, Energy & Infrastructure, Project Finance, Real Property, Aviation and Dispute Resolution
What type of clients does the firm work with?
Our firm works with both local and multinational clients on all operational business matters in different industries including Banking, Energy, Healthcare, Hospitality, Infrastructure, Insurance, Shipping and Logistics, Telecommunications, and Trade & Retail, among others.
Doing Business in Vietnam
What is the business environment like in Vietnam and how do you see it changing in the future?
The last 5 years has seen strong economic growth for Vietnam. Vietnam’s GDP is expected to grow by 6.8% in 2019 / 6.7% in 2020 and its inflation rate is still in the single digit territory at 3.5% in 2019. It is also expected that the per capita GDP growth for Vietnam to be 5.8% in 2019 and 5.7% in 2020.
There is also a surge in foreign direct investment, a buoyant domestic consumption, and increase in activities in the service and industrial sectors. With the new regulations set in place by the government to level the playing field between the private sector and the state, the business climate improved and has helped build investor confidence.
There are still things that are left for improvement such as the structural problem in the land and credit markets and transparency in government spending. However, the last years have shown the government’s commitment to help ease the process for the private sector to do business in Vietnam. Overall, the business outlook for Vietnam looks hopeful.
Where do you see opportunities with WLG member firms in Vietnam?
Vietnam is emerging as a beneficiary in the US – China trade war. Many business are changing their place to Vietnam and this presents new opportunities for cooperation between other WLG member firms and VILAF.
Membership in World Law Group
How did your firm come to join World Law Group? How would you describe your experience with WLG in the four years since you’ve joined?
We were invited by WLG in mid-2015. Our Managing Partner, Mr. Ngo Thanh Tung attended the WLG Conference in Cartagena that same year.
For the past 4 years, we have increased collaborations with other WLG members namely Al Tamimi & Company, Bae Kim & Lee LLC, City-Yuwa Partners, CMS Belgium, CMS Germany, CMS Netherlands, Drinker Biddle & Reath LLP, Formosa Transnational, Gowling WLG, Greenberg Traurig LLP, Lane Powell, Minter Ellison, Shearn Delamore & Co., and Wong Partnership. Outside business matters, we’ve also had the opportunity to hold a joint seminar with Chandler MHM Thailand on investing in Vietnam.