Kinstellar Launches Sister Law Firm In Southeast Asia

April 10, 2024
Kinstellar has joined forces with Asia Counsel, which will continue to operate under the existing “Asia Counsel” brand, now in association with Kinstellar Southeast Asia. Asia Counsel is a prominent and highly regarded law firm based in Ho Chi Minh City, Vietnam’s business capital. It has over 20 Vietnamese and foreign lawyers, including three partners. This strategic move marks a significant milestone and a launchpad for the Kinstellar group’s expansion plans in the emerging markets of Southeast Asia. Kinstellar’s new Vietnam and Southeast Asian platform will offer clients significant synergies with the existing Kinstellar full service firm operations in Bulgaria, Croatia, Czech Republic, Hungary, Kazakhstan, Romania, Serbia, Slovakia, Ukraine, Turkey and Uzbekistan. “Bringing Asia Counsel into the Kinstellar family marks a significant milestone for our group and for its development plans for Southeast Asia. We are excited to have a firm of the quality of Asia Counsel in our group and about pursuing the next steps in Southeast Asia, commented Kinstellar Senior Partner Jason Mogg. Asia Counsel has built an excellent reputation over a decade of on-the-ground experience and excellence. It acts for multinational corporations, UK, US, European, Japanese, Chinese and other Asia-Pacific law firms, as well as global, regional and local investment funds, venture capital funds, private equity investors and financial institutions. It also serves an array of high-profile Vietnamese corporations with their full business lifecycle. “As we embark on this exciting new chapter, our commitment to delivering exceptional services and maintaining the highest standards remains unwavering. The shared values and goals of Asia Counsel and Kinstellar Southeast Asia undoubtedly will benefit both us and our existing and...

Baker McKenzie Appoints Oanh Nguyen as New Vietnam Managing Partner

January 4, 2024
Baker McKenzie has appointed Oanh Nguyen as the managing partner for the Vietnam offices for a three-year term, effective January 1, 2024. Oanh will be the first female lawyer to lead the offices in Ho Chi Minh City and Hanoi. She succeeds Manh Hung Tran, who transitions to the role of co-chair of the Asia Pacific Intellectual Property and Data & Technology Practice Groups. Oanh joined Baker McKenzie in 1995. Over her 28 years with the Firm, she has led the Banking & Finance and Capital Markets practices in Vietnam and acted on many market-first transactions, including most recently Vietnam’s first local-currency sustainability bonds issue. She has served as a legal adviser to the Capital Markets Committee of Ho Chi Minh City American Chamber of Commerce. “It’s a great honor. Baker McKenzie has been in Vietnam for 30 years and continues to be one of the most recognized law firms in the country. I am both excited and humbled by the opportunity to lead this office and look forward to building on the Firm’s first position in the market, and steer our team toward new opportunities and heights,” Oanh said. Shih Yann Loo, Baker McKenzie’s Asia Pacific regional chair, said, “I would like to congratulate Oanh on her appointment. Oanh’s appointment is further evidence of our steadfast commitment to recognizing high performers and supporting women. I am confident that Oanh will continue our growth in the Vietnam...

New regulations on onshore loans and offshore loans in Vietnam

July 26, 2023
The State Bank of Vietnam further tightens the rules but provides some favorable clarifications. Towards the end of June 2023, the State Bank of Vietnam (“SBV”) issued two important circulars governing the credit market in Vietnam: Circular 08/2023/TT-NHNN (“Circular 08”) on offshore borrowing conditions to replace Circular 12/2014/TT-NHNN on the same subject matter; and Circular 06/2023/TT-NHNN (“Circular 06”) amending and supplementing certain articles of Circular 39/2016/TT-NHNN on lending activities of credit institutions and foreign bank branches in Vietnam (“credit institutions”). Circular 08 will take effect on 15 August 2023 while Circular 06 will take effect on 1 September 2023. This article provides an overview of the major changes introduced by Circular 06 and Circular 08 and their implications. I. HIGHLIGHTS OF IMPORTANT CHANGES Onshore Loans It is no longer permissible to provide onshore loans to fund the deposit of monies or to fund equity investments other than listed stock investments. Financing capital contributions under capital contribution contracts, investment cooperation contracts, or business cooperation contracts for an investment project that does not meet the eligibility criteria for “being put into business” under relevant laws is prohibited but it is unclear how to determine if a project is eligible “for putting into business.” A legal regime for digital lending is introduced. Each individual may not maintain a total outstanding digital borrowing balance of more than VND100,000,000 with a credit institution. More stringent and detailed requirements on internal lending regulations are imposed on credit institutions. Costs which are funded by reimbursement loans must have incurred within 12 months prior to the credit institution’s decision to lend. Offshore Loans All categories of borrowers...

Data Protection and Cybersecurity Developments 2023

May 9, 2023
An Exploration of Data Protection and Cybersecurity Developments in the Digital Economy Era : How China, India, Vietnam and Thailand are keeping up with digital evolution In today’s digital age, data protection and cybersecurity are becoming increasingly important world over. The Asian legal landscape, being no exception, is ushering in an enormous amount of change – with privacy laws anticipated, by the end of this year, to have grown by 25% since 2021. With the rise of technology, sensitive data is being collected and stored at an unprecedented rate, making it vulnerable to cyber-attacks. This is especially true in countries like China, India, Vietnam and Thailand that are experiencing rapid growth in their digital economies. Here, we shine a spotlight on these countries and explore the latest changes and upcoming amendments to their data protection and cybersecurity laws and regulations. China With the ever-accelerating growth of technology, comprehensive data protection and cybersecurity laws in China have become crucial. In recent years, the Chinese government has implemented a number of changes to its laws in order to protect citizens’ personal information and ensure that companies are compliant with international standards, such as the European Union’s General Data Protection Regulation (GDPR). These changes include new regulations on data collection, storage, usage and cross-border data transfers; increased penalties for violations; and improved enforcement mechanisms. In 2021, China enacted its comprehensive data protection “rulebook”, the Personal Information Protection Law (PIPL) which, while neither as prescriptive nor as detailed as the GDPR, imposes strict requirements on companies that collect and use personal information, and gives individuals greater control over their own data. For example,...

Firms Of The Year Results 2022 Vietnam

April 19, 2023
In-House Community Firms of the Year 2022 – Top Law Firms in Vietnam Winners in ⭐bold Honourable mentions in italics Alternative Investment Funds (Including Private Equity)   ⭐ YKVN ⭐ Baker McKenzie ⭐ VILAF Frasers Law Company Allen & Overy Banking And Finance   ⭐ YKVN ⭐ VILAF ⭐ Frasers Law Company Baker McKenzie Allen & Overy Compliance And Regulatory   ⭐ VILAF ⭐ Frasers Law Company ⭐ YKVN Baker McKenzie Tilleke & Gibbins Russin & Vecchi Antitrust/ Competition   ⭐ LNT & Partners ⭐ Baker McKenzie GV Lawyers Capital Markets   ⭐ VILAF ⭐ YKVN ⭐ Allen & Overy Frasers Law Company Corporate And M&A   ⭐ LNT & Partners ⭐ VILAF ⭐ Baker McKenzie ⭐ YKVN Russin & Vecchi Bizconsult Law Firm   Employment   ⭐ Phuoc & Partners ⭐ Rajah & Tann LCT Lawyers ⭐ Tilleke & Gibbins ⭐ Vision & Associates Vision & Associates Russin & Vecchi Frasers Law Company International Arbitration   ⭐ LNT & Partners ⭐ YKVN ⭐ Dzungsrt & Associates Rajah & Tann LCT Lawyers VILAF Real Estate/ Construction   ⭐ ZICO Law ⭐ VILAF ⭐ Baker McKenzie Allen & Overy Frazers Law Company Energy & Natural Resources   ⭐ Lexcomm Vietnam ⭐ Freshfields Bruckhaus Deringer ⭐ Hogan Lovells ⭐ VILAF YKVN EPLegal Limited Litigation And Dispute Resolution   ⭐ GV Lawyers ⭐ YKVN ⭐ VILAF Bizconsult Law Firm LNT & Partners Rajah & Tann LCT Lawyers Tillike & Gibbins Restructuring & Insolvency   ⭐ Allen & Overy ⭐ Baker McKenzie GV Lawyers Intellectual Property   ⭐ Pham & Associates ⭐ Bross & Partners ⭐ Vision & Associates Tilleke & Gibbins Baker McKenzie Projects And Project Financing   ⭐ YKVN ⭐ Lexcomm ⭐ Russin & Vecchi Allen & Overy Frasers Law Company LNT & Partners Most Responsive International Law Firm – Vietnam   ⭐ Baker McKenzie ⭐ Tilleke & Gibbins ⭐ Allen & Overy Intellectual Property   ⭐ Pham &...