Vietnam is one of the most dynamic frontier markets in Southeast Asia and fastest growing economies in the world whose recent success can be attributed to a variety of factors, including global supply chain diversification in response to increasing trade barriers, a favourable location and geopolitics, and a large workforce. However, recent high-profile domestic anti-corruption cases and enforcement actions – including one that led to imposition of the death penalty – demonstrate that foreign investors also can get burned by local enforcement. In a guest article, Khushaal Ved, Nicole Lim, Paris Buti, Gaston Fernandez, Ngoc Nguyen and Hoang Ha Nguyen of Hogan Lovells provide an overview of the efforts the Vietnamese government has taken in recent years to fight bribery and corruption as part of its “blazing furnace” campaign, and the progress and practical consequences of these initiatives on unsuspecting counterparties. See “Trouble in Paradise: Anti-Corruption Investigations, Enforcement and Developments in the Philippines” (Apr. 24, 2024).