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Dragon Capital receives the third-class Labour Order for its contributions to Vietnam’s capital market
The prestigious award was given to both the firm and its chief executive Dominic Scriven.
At a separate event also last week, Dan Svensson, portfolio manager of Dragon Capital-managed Vietnam Debt Fund (VDeF), was granted a certificate of merit for his personal contributions to the development of Vietnam’s government bond market, becoming the first foreigner to receive such an honour from the Ministry of Finance.
CEO and co-founder Dominic Scriven recalled tough periods Dragon Capital and its funds faced in the past. “At inception 20 years ago, we could not have imagined today, most of other players from the same era are no longer around, mere survival is a real success.”
Regarding the future prospects and investment opportunities in Vietnam in the time to come, Scriven said, “People talked a lot about China and India 10 years ago, but they have now turned much of their interest into ASEAN, and Vietnam is a highly dynamic economy in the region. Vietnam’s determination to implement comprehensive reforms will result in many attractive investment opportunities. That’s the message we want to send to our investors throughout the world.”
Dragon Capital is linked to the development of Vietnam’s stock market since the early days through its financial and technical supports. It is the co-founder of Ho Chi Minh City Securities Corp. (HSC) and VietFund Management (Vinafund), which are the leading domestic firms in their industries.
Dragon Capital is the sole sponsor for the Annual Report Awards co-organised by VIR and the Ho Chi Minh Stock Exchange (HOSE), which has helped improve corporate governance and transparency of listed firms since launched seven years ago.
Dragon Capital is also recognised for being active in promoting Vietnam’s image and the country’s economic achievements to international investors, acting as a bridge connecting foreign investment to Vietnam.
Still, it has remained well-aware of its corporate social responsibilities. Dragon Capital has provided funds for disadvantaged people, scholarships for poor children and finance for environmental protection projects. Their contributions have been already recognised by Ho Chi Minh City with the certificate of merit.
Dragon Capital took the occasion of its 20th birthday to donate VND5 billion (around $250,000) to some foundations, including a VIR scholarship foundation for disadvantaged Vietnamese children.
Founded in 1994 with initial capital of $16 million and eight staff, Dragon Capital and its affiliates now have more than $1 billion worth of assets under management and a headcount of 100 at offices in Asia and Europe.
The assets include public equity, private capital, clean development, fixed income and property. Shareholders comprise international agencies such as IFC (the World Bank Group) and Dragon Capital’s own founders and staff members.