MANAGING PARTNER’S INSIGHT
By: Hana Tran
Founder & Managing Partner, Tran & Co. Attorneys
Corporate Governance & Legal Risk Control:
A Strategic Imperative for International Businesses in Vietnam
Opening Paragraph – Personal Observation
As a lawyer working closely with foreign investors and international businesses in Vietnam, I have witnessed a recurring pattern: companies often discover compliance gaps or management risks only after several years of operation — usually at a critical moment.
It could be the sudden departure of a key manager, a missing compliance document during a government inspection, or a dispute that could have been avoided. For business owners who travel frequently between Vietnam and their home country, these moments can create stress, financial cost, and disruption to operations.
This is why I believe that proactive corporate governance and legal risk control are not merely compliance exercises, but essential business strategies for building a resilient enterprise in Vietnam.
Key Issues / Challenges
From my experience advising international clients, foreign-invested companies in Vietnam often face:
– Corporate governance gaps: Charters, board resolutions, and internal regulations not updated after management changes.
– Regulatory non-compliance: Late or incorrect filings that remain unnoticed for months or even years.
– Visa & work permit vulnerabilities: Expired or improperly issued documents for foreign executives.
– Contractual weaknesses: Agreements that lack enforceable dispute resolution clauses or are misaligned with Vietnamese law.
– Internal control issues: Loose approval processes that lead to financial mismanagement or disputes.
Why This Matters
Legal compliance is more than ticking boxes. It is about protecting the business, its owners, and its reputation. Proactive governance and risk control:
– Keep corporate documents accurate and up to date.
– Prevent disputes before they arise, saving time and cost.
– Ensure the company stays compliant with labor, tax, and investment laws.
– Allow leadership to focus on growth, knowing that the legal foundation is solid.
For business owners who are not based full-time in Vietnam, confidence that the business remains compliant even in their absence is invaluable.
Tran & Co.’s Approach
At Tran & Co., we provide a structured approach to give our clients peace of mind:
1. Corporate Governance Audit – Reviewing company charters, board resolutions, and governance documents.
2. Compliance & Risk Mapping – Identifying and prioritizing risks across labor, tax, and investment compliance.
3. Visa & Work Permit Review – Ensuring validity and compliance for foreign executives and staff.
4. Contract & Policy Review – Standardizing contracts and internal policies to minimize exposure.
5. Legal Retainer Services – Providing ongoing legal support so clients can seek advice anytime.
Managing Partner’s Perspective:
In my view, strong governance and legal clarity form the bedrock of sustainable business success.
As Managing Partner of Tran & Co., I see our role not only as legal advisors but as strategic partners who work alongside business owners to protect their interests, anticipate risks, and enable long-term growth.
Call to Action
If your business is operating in Vietnam — or planning to enter the market — now is the time to ensure your governance and compliance systems are robust.
Contact Tran & Co. Attorneys to discuss a tailored governance audit and risk control plan for your business. Together, we can ensure your operations are protected, compliant, and ready to grow with confidence.
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