Distressed groups among frontrunners for acquisition

Distressed businesses and corporate restructuring are expected to spur the next wave of mergers and acquisitions in the Vietnamese market.

- By Olivia Bui

Speaking at VIR's Vietnam M&A Forum 2025 in Ho Chi Minh City last week, Vo Ha Duyen, chairperson of VILAF, said distressed merger and acquisition (M&A) opportunities have shown up most clearly in real estate and real-estate-linked businesses, renewables, and some export manufacturers that are feeling margin pressure. This trend will likely continue through 2026.

of real estate giant Gamuda Land Vietnam, said, “In cases where a project lacks the necessary legal conditions for further development, Gamuda Land may collaborate with a company specialising in legal matters or project development. This forms a three-party cooperation model that helps optimise resources and ensure progress.”

Regarding valuation, all six M&A transactions by Gamuda Land so far were based on market value. “Price is important, but not everything. Legal status, partners, location, and transaction structure are the foundations on which we make investment decisions,” Nguyen added.