New M&A association launched as Việt Nam pushes corporate restructuring

HÀ NỘI — Việt Nam has launched the Vietnam Mergers & Acquisitions Association (VMAA), the country’s first specialised organisation in the sector, as businesses face growing pressure to restructure and attract strategic capital.The association was introduced at a founding congress in Hà Nội on May 8 after more than 1,000 days of legal preparation and industry consultations.It is expected to become a strategic platform linking businesses, investors, financial institutions and advisory firms, while helping standardise and professionalise Việt Nam’s growing M&A market.The launch comes as Việt Nam enters a new phase of economic restructuring and intensifying competition for global investment flows, with the Government rolling out major policy reforms under Party Resolution No. 68 to strengthen the private sector, improve the investment environment and support corporate restructuring.Market participants are increasingly viewing M&A not as isolated transactions, but as a strategic tool for expansion, governance reform and long-term business transformation.Speaking at the event, Hoàng Quang Phòng, vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said the establishment of the association coincided with the issuance of major Party resolutions aimed at supporting a new era of economic growth and business development.“M&A is not simply about buying and selling businesses. It is closely tied to restructuring cooperation models, improving corporate governance and modernising management practices among Vietnamese enterprises,” he said.He said the association was expected to support member companies more effectively, help foster trust among businesses and contribute to healthier market development.According to figures cited by the association, Việt Nam recorded around 367 M&A deals in 2025 with a combined value of US$8.7 billion, up 26 per cent from the previous year, signalling a strong recovery in the market.At the same time, nearly 297,500 enterprises were newly established or resumed operations, while 227,200 businesses exited the market, underlining growing demand for restructuring, fundraising and strategic partnerships.The trend has also been supported by improving business activity in the first four months of the year, with nearly 77,800 enterprises newly established, up 50.7 per cent year-on-year, while almost 9,500 businesses resumed operations in April alone.Phạm Đình Đoàn, chairman of Phu Thai Holdings, said Vietnamese businesses were facing increasing pressure related to sustainability, access to capital, technology and governance standards as the economy evolves rapidly.He said many domestic firms would enter phases of restructuring, generational transition and business model transformation over the next decade, making stronger corporate cooperation increasingly important.Nguyễn Đức Kiên, the association’s executive vice chairman, said the biggest bottleneck facing Việt Nam’s M&A market was not a lack of demand, but the absence of a fully integrated ecosystemHe cited gaps in reliable market data, professional standards, specialised advisory services and coordination among businesses, investors and regulators.Kiên said VMAA’s long-term priority would be to build a more sustainable M&A ecosystem by strengthening connections between enterprises, investment funds and advisory firms, helping Vietnamese businesses improve governance, expand operations and integrate more deeply into new value chains.Under its 2026-31 action programme, the priorities include investor networking events, training programmes, market databases and annual M&A reports, with the association targeting around 1,000 members by the end of its first term. — BIZHUB/VNS