Ho Chi Minh City, 23 June 2023 — Five years ago, Vietnam introduced a new Competition Law, which came into effect in July 2019, bringing significant changes to the country’s merger control regime. In commemoration of the fifth anniversary of Vietnam’s new Competition Law, Indochine Counsel and FiinGroup are delighted to announce the release of the “Vietnam Merger Control Guide.”
The Vietnam Merger Control Guide provides a detailed overview of the criteria that determine whether M&A transactions require regulatory filing and scrutiny. It also highlights the incorporation of a qualitative test in the law, designed to evaluate whether a transaction is permissible or prohibited. This measure aims to prevent transactions that could substantially diminish competition in specific markets within Vietnam.
Businesses that fail to comply with the expanded reporting requirements face substantial monetary penalties and potential deal delays. Moreover, the complexity of the qualitative test emphasizes the need for comprehensive data and market information from reliable business intelligence firms, as well as persuasive explanations from professional law firms.
Considering the potential challenges that parties may face from competition authorities, competitors, and dissatisfied customers, it is crucial to recognize that obtaining merger control clearance should not be perceived as a mere administrative procedure. The report is available for download here.
About Indochine Counsel
Indochine Counsel, one of Vietnam’s premier law firms, specializes in business law and has a team of twenty-five lawyers across its offices in Ho Chi Minh City and Hanoi. Established 17 years ago, Indochine Counsel currently has six partners and one senior counsel, equipped to provide boutique services and handle large-scale M&A deals. For more information about Indochine Counsel, please visit https://www.indochinecounsel.com.
FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business information, market research and consulting, credit ratings, and other data-driven analytics services via Platform as a Service (PaaS), annual package, and on-call services. For more information about FiinGroup, please visit: https://www.fiingroup.vn.
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