Law firm giant to close Vietnam operations HANOI - Clifford Chance, the world's largest law firm, is to close its Vietnam operations due to a dearth of corporate clients and what the company assesses to be the unlikely prospect of a medium-term economic recovery. John East, regional managing partner for Asia, confirmed offices in Hanoi and Ho Chi Minh City were in the process of closing and the company's 20 local staff would be either redeployed or made redundant. "The activities and level of investment of our global clients in Vietnam is substantially down and there is little new or exciting activity for those clients," he said. Mr East said although a large company, Clifford Chance needed to deploy its resources efficiently. He said the decision had been accepted by Vietnamese authorities with whom the company remained on good terms. "Things can move very fast in Asia - most countries are out of recession but Vietnam is not corresponding. When the climate changes in Vietnam we'll be glad to return," he said, adding the company would review the situation on an annual basis. "But realistically it will probably be two or three years before we consider moving back into Vietnam." Clifford Chance set up in Vietnam in early 1994 when the country was touted as the next Asian tiger and speculators flooded in on the promise of access to local markets and cheap labour. By Huw Watkin - South China Morning Post - March 23, 2000.