M&A Advisory

Characteristic Challenges of M&A Activities in Emerging Markets like Vietnam.

  • Valuation and due diligence lack transparency.
  • Family-owned businesses + cultural differences.
  • Foreign exchange risks and difficulties in transferring money abroad.
  • Lack of professional personnel/advisors specialized in M&A.

From 2024 to the present (as of March 2026), Vietnam has witnessed several major legal changes that directly impact M&A (Mergers and Acquisitions) activities. These changes focus on improving the investment environment, reducing administrative procedures, opening up certain sectors, and removing bottlenecks related to land, housing, and real estate—factors that have long posed significant obstacles to M&A in Vietnam. Below are the most important changes:

  • Law on Investment 2025 (No. 143/2025/QH15) Impact on M&A: Reduces barriers for foreign investors acquiring shares or Vietnamese enterprises, particularly in manufacturing, technology, and renewable energy sectors.
  • The trio of major laws on land, housing, and real estate business (2024) Impact on M&A: Paves the way for a series of large real estate transactions (project restructuring, project transfers), a sector that typically accounts for a high proportion of M&A value in Vietnam (often 30–40% of total transaction value).
  • Amended Law supplementing certain provisions of the Securities Law and related laws (2025) Impact on M&A: Increases M&A transactions involving listed companies and attracts more foreign investment funds.
  • Guiding decrees and circulars issued in 2025–2026 Overall impact on M&A in Vietnam 2024–2026:
    + Positive: Reduction of administrative procedures, opening of certain sectors, removal of land-related bottlenecks → strong recovery in the M&A market (transaction value increased 26% in 2025 compared to 2024, according to some reports).
    + Negative: Certain changes (such as market-based land valuation) raise costs and cause short-term difficulties for large-scale projects.