Skip to content

Duc Tran


Ho Chi Minh City

Image of Duc Tran
Duc Tran


Ho Chi Minh City

Duc advises both multinational and domestic clients in a variety of areas of project finance, banking and corporate law. He has led numerous landmark project finance, M&A, banking and capital markets transactions, both in Vietnam and on behalf of Vietnamese clients in other markets. Duc joined A&O in 2013. 

With over 20 years of legal practice (including 12 years as managing partner of VILAF), Duc is recommended as one of the leading lawyers in Vietnam by the major international legal guides. Chambers Asia Pacific 2020 ranks him as a Band 1 lawyer for Projects, Infrastructure & Energy, Banking & Finance, Capital Markets as well as for Corporate/M&A in Vietnam. He is also named to the IFLR Asia Best Lawyers 2019 list.

"Duc Tran is held in the highest regard for his expertise in cross-border banking and finance matters, in addition to capital markets work. He frequently assists global banks and financial institutions with multi-jurisdictional equity offerings and bond issuances." 


"He provides vital and timely advice on tricky Vietnamese law issues," enthuses one client, with another source reporting: "There is no limit to the topics I can ask him about."


Other noteworthy experience includes advising:

  • A Southeast Asia sovereign wealth fund, on its investment into, and strategic partnership with, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam’s largest bank by market capitalisation. This is the fund’s first direct investment in a commercial bank in Vietnam and one of the first by a financial sponsor into the Vietnamese banking sector.
  • KKR on its USD250m investment in Masan Group and Masan Nutri-Science. Masan Group is one of Vietnam’s largest private sector companies and Masan Nutri-Science is its meat producing unit.
  • Kinh Do Corporation on its USD465m sale of its confectionery business to Mondelēz International, the world’s leading snack company. Best Vietnam Deal, The Asset Triple A Country Awards 2015.
  • Vingroup on a USD200m sale of a 20% equity interest in its subsidiary Vincom Retail to a consortium led by Warburg Pincus. Best Vietnam Deal, FinanceAsia Awards 2013.
  • CFLD International on its acquisition of a majority stake in a residential development project located in the Dong Nai province from VinaLand Ltd.
  • A Middle Eastern sovereign wealth fund on its joint venture and co-investment in CapitaLand Vietnam Commercial Fund 1, a USD300m real estate fund managed by Singapore-listed CapitaLand, one of Asia's largest real estate companies. This transaction represents the first commercial fund established by CapitaLand in Vietnam.
  • Creditors in the restructuring of Vinashin and issuing notes in exchange for USD600m debts. Restructuring Deal of the Year, IFLR Asia Awards 2014.
  • Deutsche Bank and Credit Suisse as bookrunners on Vinpearl’s USD450m Reg-S only exchangeable bond listed on the SGX. Vinpearl is the hospitality arm of Vingroup, one of Vietnam’s largest conglomerates. This transaction is the first exchangeable bond by a Vietnamese issuer.
  • The Government of the Socialist Republic of Vietnam on a USD1bn Rule 144A/Reg S sovereign bond offering. Best Bond Deal – Vietnam, The Asset Triple A Country Awards, 2015.
  • JBIC, Bank of Tokyo-Mitsubishi UFJ, NEXI, KEXIM and other lenders on the financing of the USD9bn Nghi Son Refinery. Asia Pacific Petrochemicals Deal of the Year, IJGlobal Awards 2014.

Experience highlights

News & insights

A metal and glass art installation

Publications: 08 SEPTEMBER 2020

New Law on Public-Private Partnerships (PPP) in Vietnam

On 1 January 2021, Vietnam’s long awaited Law on PPP (the PPP Law) will come into effect. The PPP Law establishes an umbrella legal framework for all PPP projects and aims to attract more private…

Read more
Spiral of lights

Publications: 14 APRIL 2020

New developments for Vietnam renewable energy

The Government of Vietnam has issued its highly anticipated policy, Decision 13, providing for new feed-in-tariffs for solar power projects in Vietnam. The new solar FiTs will apply for projects which…

Read more
New merger control in Vietnam

Publications: 02 APRIL 2020

New merger control in Vietnam

On 24 March 2020, the Government of Vietnam promulgated Decree No. 35/2020/ND-CP setting forth, among other things, the long-awaited notification thresholds of the new Vietnamese merger control regime…

Read more

Publications: 13 NOVEMBER 2019

ASEAN and South Asia Debt Capital Markets: 2019 and beyond

2020 expected to be a spotlight year for ASEAN and South Asia Debt Capital Markets 

Read more


Ho Chi Minh City

Allen & Overy Legal (Vietnam) LLC
39th Floor, Bitexco Financial Tower, 2 Hai Trieu, District 1
Ho Chi Minh City

View office →



Admitted as a lawyer, Vietnam


LLB, Hanoi Law University

M&A Advanced Negotiation Course, London

Project Finance Training Course, London

Loan Negotiation Training Course, Singapore