Interest among international law firms in Vietnam could be revived as the Asian country secured membership of the World Trade Organisation (WTO) this month after seven years of negotiations.

Freshfields Bruckhaus Deringer has 19 lawyers spread across offices in Hanoi and Ho Chi Minh City, while Lovells has a small representative office in the latter, with a legal staff of four.


Other international firms with a presence include global giant Baker & McKenzie, French firm Gide Loyrette Nouel and Hong Kong-based Johnson Stokes & Master.


However, a number of other firms that had offices in Vietnam in the 1990s - including Clifford Chance and Sinclair Roche & Temperley (now part of Stephenson Harwood) - no longer have a base there.


WTO membership is expected to boost Vietnam's economy, which has grown by an average 7.8% between 2001 and 2005.


Alison Hook, head of the Law Society's international department, said: 'Vietnam's membership of the WTO will give a further fillip to foreign investors' growing interest in Vietnam and should increase the number of foreign law firms looking to develop links in Vietnam.' The Ministry of Justice in Vietnam has invited the international department to help the country meet its WTO obligations, as well as to prepare the local legal profession for more interaction with foreign law firms.


Tony Foster, Freshfields' managing partner in Vietnam, said the country has operated a liberal regime for some time, with the only major restriction being a bar on foreign firms practising in court. This, he said, is going to be lifted at the beginning of 2007.


'Most of the work we do is inward investment, financing, capital markets and mergers and acquisitions,' he added.