Control Risks

Vietnam’s anti-corruption drive, dubbed the “burning furnace,” started in 2016 but has intensified since 2021.   Many senior officials in the country have come under investigation. They’ve been asked to leave their positions or have been forced to step down. Most recently, Vietnamese property tycoon Truong My Lan was sentenced to death for her role in a USD 12.5 billion financial fraud scheme. Investors and government officials are growing increasingly nervous and are holding off on making any decisions that might spark a corruption investigation. But that’s not the whole story.   Angela Mancini, Partner, sits down with Steve Wilford, Partner, to discuss Vietnam’s current business and political environment and how, despite the challenges, there is still a lot of opportunity.  If you are looking for more analysis across South East Asia, please visit our South East Asia hub here.