Michael D Lee

🇭🇰 Hong Kong calling 📞 🎯 After decades of strong presence in Vietnam, Hong Kong companies continue to cement their status as major foreign investors by diversifying activities across multiple sectors. 🗓️ In early August, a delegation led by the chief executive of the Hong Kong Special Administrative Region, John Lee, paid a working visit to Vietnam. The delegation included around 30 leaders from international, mainland Chinese, and Hong Kong enterprises across sectors such as finance and insurance, innovation and technology, professional services, infrastructure, transport and logistics, energy, and hospitality. 🍓 The visit yielded fruitful outcomes, with 30 MoUs exchanged between Hong Kong and Vietnamese entities. These agreements span various cooperative areas, including trade, economic partnership, investment, aviation, education, and tourism promotion. 💬 “Vietnam is our seventh-largest merchandise trading partner globally, and second-largest among ASEAN countries,” Lee said. “Beyond trade, we are also keen on investing in Vietnam. Today, many Hong Kong companies and conglomerates have expanded their operations across ASEAN, with Vietnam being a key focus.” 💭 “I am confident that Vietnam’s sustainable economic growth, driven by key industries such as manufacturing, construction, services, exports, high-tech and advanced manufacturing, and renewable energy, will continue to present ample market opportunities for Hong Kong companies to thrive.” 👉🏼 Several well-established brands have led the way here in this regard. For example, Sun Wah Group has been operating in Vietnam for over 30 years, investing well over $1 billion in diverse sectors, from seafood and coffee to real estate and technology. 🥇 Similarly, Cathay Pacific and Swire Group were among the first to collaborate with Vietnam Airlines in its early days. Jardine Matheson, based in Hong Kong, has invested more than $4 billion in Vietnam, engaging in multiple industries and joint ventures. Since 2007, Lee & Man Paper Manufacturing has operated one of the most advanced facilities in Vietnam, producing over 550,000 tonnes of packaging paper annually. 🗣️ Winnie Lam, general secretary of the Hong Kong Business Association Vietnam and COO of Avison Young Vietnam, said, “Hong Kong has consistently been a top foreign investor in Vietnam. Many multinational corporations use Hong Kong as their regional hub and a gateway to Vietnam. Additionally, numerous Hong Kong investments are channelled through offshore entities such as the BVI.” 👍🏼 Peter Lam, chairman of the Hong Kong Trade Development Council, expressed optimism about the business potential between Hong Kong, Vietnam, and the broader ASEAN region. https://lnkd.in/gKbCtwxV

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I have released a short video lecture on 2023 Merger Guidelines (https://rb.gy/s6y0ro). Although this is in Japanese, please enjoy. Through this lecture, you will realize a big difference from 2010 Horizontal Merger Guidelines and 2020 Vertical Merger Guidelines. #antitrust #competitionlaw

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The Hong Kong office of PRC firm DeHeng Law Offices has added corporate expert Albert Li (Li Han Tsing) as a partner from Koo, Li & Partners, rival mainland outfit Merits & Tree’s association firm in the city. With over ten years of experience, Li focuses on IPOs, mergers and acquisitions, investments, post-IPO compliance and general commercial matters. He was previously an associate at Slaughter and May, Ashurst, and Davis Polk & Wardwell, before setting up his own practice in early 2023. Charlie Wu reports https://lnkd.in/gVAvDgay

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The healthcare sector in Vietnam remains a focal point for dynamic merger and acquisition (M&A) activities, attracting increasing attention from both domestic and international stakeholders. In particular, foreign investors are demonstrating a growing interest in acquiring stakes in or establishing strategic partnerships with local healthcare facilities to capitalize on the country’s rapidly expanding market and evolving healthcare needs. Ngo Hai and Bao Nguyen, Senior Associates at LNT & Partners, provide a detailed analysis of this trend, highlighting the factors driving foreign investment and the opportunities and challenges that arise in navigating Vietnam’s regulatory landscape for healthcare M&A transactions. For further details, please visit: https://lnkd.in/g2EC9avV #LNTPartners #Healthcare #MergerandAcquisition

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New Empanelment of 5 DVC Members on the AALCO Hong Kong Regional Arbitration Centre Panel of Arbitrators We are delighted to announce the successful empanelment of 5 DVC members, namely Patrick Fung SC, KC, William Wong, S.C. JP, Adrian Lai JP, Benny Lo and Sabrina Ho, on the Asian-African Legal Consultative Organization Hong Kong Regional Arbitration Centre (“AALCO-HKRAC”) Panel of Arbitrators, commencing from 5 June 2024 until 31 December 2026. AALCO is an inter-governmental organization that was founded in 1956 and now with 48 member states comprising of the major states from Asia and Africa. Two-thirds of the world’s population lives in AALCO member states. The combined GDP exceeds many trillions of US dollars. Of the 193 countries in the world, and of close to 700 cities in People’s Republic of China, AALCO chose to set up the latest regional arbitration centre in the Hong Kong Special Administrative Region in the heart of the Greater Bay Area development and an important gateway of the Belt and Road Initiative. #DVC #DesVoeuxChambers #internationalarbitration #arbitration #arbitrator #appointment #GBA #GreaterBayArea #beltandroad #BnR

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𝐄𝐘 𝐆𝐫𝐞𝐚𝐭𝐞𝐫 𝐂𝐡𝐢𝐧𝐚 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐂𝐡𝐢𝐧𝐚'𝐬 𝐑𝐨𝐛𝐮𝐬𝐭 𝐎𝐮𝐭𝐛𝐨𝐮𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐇𝟏 𝟐𝟎𝟐𝟒 In its latest report, “Overview of China Outbound Investment for the First Half of 2024,” EY Greater China revealed significant developments in China's outward foreign direct investment (ODI). Despite global economic uncertainties, China's overall ODI reached a remarkable US$85.3 billion, marking a 13.2% year-on-year (YOY) increase. This surge underscores the country's ongoing efforts to enhance its global presence and influence. Some of the key highlights: ✔ growing preference among Chinese enterprises for greenfield investments, particularly in sectors such as the new energy vehicle industry chain, infrastructure (including digital infrastructure), and healthcare. ✔ Chinese companies announced 206 overseas M&A deals in the first half of 2024, with a total value of US$13.1 billion. These figures reflect a targeted approach to overseas expansion, focusing on quality and strategic fit rather than sheer volume. ✔ Impressive performance of Chinese enterprises in foreign contracted projects. The value of new contracts signed reached a record high of US$115.54 billion, a 22% YOY increase. ✔ Breaking down the investment figures further, non-financial outward direct investment amounted to US$72.62 billion, up 16.6% YOY. Investments in Belt and Road Initiative (BRI) countries saw a 9.2% YOY increase, totaling US$15.46 billion. These numbers reflect China's sustained commitment to its strategic partners under the BRI framework. As Chinese enterprises continue to expand abroad, the focus has shifted to enhancing quality and efficiency. The report suggests that in the future, success in overseas markets will increasingly depend on Chinese companies' ability to enhance core competitiveness and leverage innovation advantages. See below to get the full report 👇🏻 #COIN #ChinaOverseasInvestmentNetwork #goingglobal Loletta Chow Qinghua XU PIONCHON Yi Sun Zhuoqun Wang Liangyu Wu

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Data Law, which was ratified by the National Assembly of Vietnam this afternoon, consists of 5 chapters with 46 articles (substantially less than previous drafts). It regulates digital data; the construction, development, protection, management, processing, and use of digital data; the National Data Center; the National Comprehensive Database; products and services related to digital data; the management of digital data; and the rights, obligations, and responsibilities of agencies, organizations, and individuals involved in digital data activities. Full Text of the law will be released within the regulatory timeframe. https://lnkd.in/ggikqB7a #data #law #lawyer #Vietnam VTN and Partners

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Investing in ...2024: Vietnam 🇻🇳💰🏙️ Asia Counsel is proud to have contributed to the Vietnam chapter of the "Investing In 2024" guide by Chambers and Partners. Authored by our Managing Partner Minh Duong, Partner Phong Nguyen, and our talented team of associates, this comprehensive guide offers deep insights into Vietnam's investment climate. It covers strategic sectors 🏭, FDI 💰, M&A 🤝, and essential considerations for investors.   Explore the detailed guide for a thorough understanding of the opportunities in Vietnam:   📖 Read the full guide here: https://lnkd.in/guQeM5s4 For more updates, visit our website www.asia-counsel.com. 🔗 Stay connected and informed with Asia Counsel.   #AsiaCounsel #InvestingInVietnam #ChambersAndPartners #FDI #VietnamLaw #MarketTrends #LegalGuide

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Mintz advised Greater Asia Pacific, a Hong Kong holding company, in the sale of the controlling interest in Microtek Product Services Co. Ltd. to Centre Testing International Group Co., Ltd. (CTI), a publicly traded Chinese company in the lab tasting space. The transaction was led by San Francisco Office Managing Member Steve Osborn and Associate Jessica Zhang (张亨) with support from Members Rob Burwell and Timothy Santoli. Read more about the sale here: https://bit.ly/49AMPOo

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Anglo-German law firm CMS has strengthened its Hong Kong funds practice with the hire of Helen Wang as a partner from Mayer Brown, where she was a counsel. Wang's practice focuses on focuses on the formation, maintenance and restructuring of investment funds, including private equity funds, hedge funds and hybrid funds. She advises asset managers, banks, state owned enterprises, professional trustees and fund administrators, as well as family offices and start-ups, in Hong Kong, Mainland China, Taiwan, Japan, and Australia. "Helen's appointment, alongside the recent addition of Paul and Gigi, demonstrates our ambitious growth plans in the funds market," said Caryn Miller, CMS partner and joint managing director for Asia and the Middle East, in a statement. 🔗Here's more: https://lnkd.in/g5chf_74

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The recent judgment of the Hong Kong Court of Appeal in Leading Well Limited v Secretary for Justice (on behalf of the Director of Lands) [2024] HKCA 821 provides valuable clarity on the proper construction and scope of Regulation 18A(3)(a)(iv) of the Building (Planning) Regulations (Cap. 123F). Alvin Yeung and Cheryl Yip explore the implications of this decision for developers and investors to unlock greater redevelopment potential. Read more: https://lnkd.in/g7FwqPtx

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🚧 Deceleration looming 🐌 💡 The HCMC economy is likely to grow at 6% in the second quarter, down from 6.54% in the first, the municipal Statistics Office has said. ❓ The economy has not shown signs of a breakthrough this year, and the growth of some sectors has slowed down, Nguyen Khac Hoang, director of the office, said at a People’s Committee meeting on Friday. 💵 Public spending has also slowed down in the second quarter. The State Treasury Department reported that weekly disbursements never exceeded VND200 billion (US$7.86 million) in April or May. ♻️ Nguyen Ngoc Hoa, chairman of the HCMC Business Association, said exporters have enough orders for the second quarter, but face difficulties in meeting green standards. This could lead to a decline in orders towards year-end, he warned. 🚀 To boost economic growth, he suggested focusing on domestic consumption by running promotions to spur consumer spending and solutions to foster wet markets. 🛒 Concurring, Bui Ta Hoang Vu, director of the city Department of Industry and Trade, revealed a two-phase shopping stimulus program is planned for the next four to five months. 💚 Truong Minh Huy Vu, deputy director of the HCMC Institute of Development Studies, said the city should boost digital transformation, green transition and labor productivity. ⏪ Dr Tran Du Lich said Vietnam’s economy would remain sluggish the rest of this year and possibly next year too. He recommended improving the efficiency of government agencies to address businesses’ difficulties. "Without breakthrough changes in operations, it is impossible to develop [the economy]." 🗣️ Phan Van Mai, chairman of the city People's Committee, said public investment must be accelerated. "We need to focus on implementing key projects and administrative reforms." https://lnkd.in/gey2e3fQ

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Baker McKenzie KLP JV adds arbitration veteran in Seoul https://lnkd.in/gihrF_MM Baker McKenzie & KL PARTNERS Joint Venture (Baker McKenzie KLP JV) has grown its international arbitration practice with the onboarding of veteran Sean Sung Woo Lim as a partner in Seoul, who has joined from Shin & Kim, one of the largest law firms in Korea. “With cross-border disputes gathering pace as businesses look overseas for growth opportunities and risk diversification, Sean’s arrival will bolster our ability to meet our clients’ growing needs,” Beomsu Kim of Baker McKenzie KLP JV, told Asia Business Law Journal. Lim had spent 35 years at Lee & Ko and was the co-head of the international arbitration practice, before joining Shin & Kim in June 2024. Recently, Baker McKenzie KLP JV has expanded its arbitration team with the addition of several partners, including Sun-young Kim and David Kim in May 2024 and December 2023, respectively. Both Sunyoung Kim and David Kim worked at Lee & Ko with Lim before joining Baker McKenzie KLP JV. 📢 Sign up for the latest updates in the legal industry: https://lnkd.in/gE3VgXQx #ablj #asia #korea #arbitration #disputeresolution #ipo #privateequity #inhousecounsel #business #legalprofession #lawfirms #lawyers #legal #law #lawdotasia

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We are pleased to announce that Dentons Hong Kong has advised as issuer’s international counsel on Shandong Quanhui Industrial Development Co., Ltd.’s successful offering of CNY346 million 6.90% guaranteed bonds due 2028, which were unconditionally and irrevocably guaranteed by a 3rd party professional guarantee service provider, Chongqing Xingnong Financing Guarantee Group Co., Ltd. The Dentons Hong Kong team, which advised on English law in this offering, was led by capital market partner Charles Yim, along with associates Ningxin Sun, Kelvin Wong, Tracy Lei, Alex Kwong and Man Fung Yeung, and legal assistant Alison Chan. To know more: https://lnkd.in/e92FfGck #Dentons #DentonsHongKong #CapitalMarkets #DebtCapitalMarkets #DCM #Bonds

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Janice meets Lee Chien Herr, director of Asia Practice LLC, today. Thanks so much for dropping by despite the insane rain, it's been a good exchange of thoughts on the current #legal markets in #HongKong and #Singapore, and the #SoutheastAsia in general. It's been a fruitful conversation on the different #employment practice in both jurisdictions indeed. We look forward to collaborating opportunities in the future on #crossborder matter, and catching up in Singapore in Q3! #jclegal

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The Hong Kong International Arbitration Centre HKIAC has officially opened its Beijing Representative Office, becoming the first offshore arbitration institution to establish a presence in the Chinese capital. The move marks a significant milestone for HKIAC and reflects the growing internationalization of Beijing's arbitration scene. This is HKIAC's second office in mainland China, following the opening of its Shanghai representative office in 2015. In a press release, the HKIAC reiterated its strong track record in handling China-related cases. In the past five years, parties from nearly 100 jurisdictions have submitted cases to HKIAC, with around 78 percent being international in nature and approximately 40 percent involving a mainland Chinese party. Full report here https://lnkd.in/gGhaJ6EZ

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The Ministry of Industry and Trade (#MOIT) has completed the Decree on the direct power purchase mechanism. As the news from the Ministry of Industry and Trade's office indicates that the agency has just sent a document to the Ministry of Justice for review of the draft Decree on the direct power purchase mechanism (DPPA). On April 26, 2024, the Government Office issued Dispatch No. 2840/VPCP-CN announcing the Deputy Prime Minister Tran Hong Ha's agreement with the Ministry of Industry and Trade's proposal to develop and issue a Decree regulating the DPPA mechanism in a streamlined sequence and procedure. The Ministry of Industry and Trade has sent a document to the Ministry of Justice for review of the draft Decree on the DPPA mechanism. Upon receiving the review document from the Ministry of Justice, the Ministry of Industry and Trade will proceed with reviewing and incorporating the Justice Ministry's feedback into the draft Decree before submitting it to the Government for approval. The draft Decree on the DPPA mechanism focuses on two main policies: (1) direct power purchase between power generation units and large customers via separate transmission lines; (2) direct power purchase between power generation units and large customers via the national grid. Our Firm, VSE LAWYERS has made various analyses on the DPPA and opinions from relevant authorities for your perusal. Source: #Governmental_Press https://lnkd.in/gRpqHxT4

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💿 Data location📍 🇰🇷 South Korean company Hyosung Corporation is seeking approval to build a data center in a high-tech zone in HCMC. 🤝🏼 The company’s vice president and CEO Lee Sang Woon personally sought the greenlight from Deputy Prime Minister Le Minh Khai at a meeting Friday. 💡 Vietnam has 32 medium and small commercial data centers, with major local providers Viettel, VNPT, FPT, and CMC having a 97% market share. 🌏 The market is small compared to that of other countries in the region such as Singapore, Indonesia, Malaysia, Thailand, and the Philippines. 💹 Vietnam is now considered one of the top 10 emerging data center markets in the world, and, according to Research and Markets, could grow to be worth US$1 billion by 2028. 🏧 Hyosung ranks third in the world in ATM manufacturing. The company also wants to invest in a factory in Vietnam to produce these machines. ♻️ Khai said the government always prioritizes improving the investment environment and enabling corporations to invest and operate "effectively and sustainably." 💚 He suggested Hyosung should focus on environmental protection, link up with domestic businesses and use locally produced materials to secure workers’ livelihoods. 🧮 South Korean companies have nearly 10,000 projects in Vietnam with a total investment of $87 billion, the highest of any country. Hyosung is the third largest Korean investor in Vietnam behind Samsung and LG. 💰 Since 2007 it has invested more than $4 billion in key sectors such as materials, textiles, chemicals, and electrical systems. It has moved nearly all of its factories in South Korea to Vietnam. 🧪 Hyosung recently invested in a carbon fiber plant that produces an environment-friendly bio-based chemical which can be made into plastic and elastic fibers. The $730-million plant is in the southern province of Ba Ria – Vung Tau. https://lnkd.in/gRNrXFFA

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