Le Anh succeeds Beat Schuerch, who will remain a director of both Dragon Capital Group and Dragon Capital Vietfund Management Joint Stock Company (DCVFM). He will continue to support the firm through the transition and beyond. 

Le Anh’s appointment was unanimously approved by the board and nomination committee, the firm said in a statement. He has been with Dragon Capital since 2008, serving as economist, head of research, deputy CIO, and CIO. His leadership combines market insight, commercial discipline, and a deep knowledge of Vietnam’s capital markets, the firm continued.

The investment manager highlighted that Vietnam is entering a phase of structural reform, improved market access, and rising visibility in global capital markets. In this environment, alignment between investment and execution is a competitive advantage. “Our investment process remains unchanged –disciplined, collaborative, and shaped by more than three decades of lived experience,” the firm added. See more about the firm here.

Vietnam trade deal
The appointment comes after the US and Vietnam, a big exporter to the US, reached an agreement on tariffs before the 1 August deadline. Despite fears of a 46 per cent levy being imposed on Vietnamese exports to the US, in July US President Donald Trump agreed on 20 per cent tariffs in a new trade deal. In return, Vietnam will not charge tariffs on US products.

Vietnam has become a key manufacturing hub for a number of brands such as Apple, and it was a beneficiary of firms moving factories out of China to avoid Trump's tariffs during his first term in office. The country is experiencing strong economic growth; GDP expanded by 7.52 per cent in the first half of 2025, its fastest first-half pace in 15 years, and equities have been performing well. The growth is underpinned by strong performance in agriculture, industry and services, despite global economic uncertainties. The World Bank forecasts a slight moderation to 6.2 per cent for the year, down from 7.1 per cent in 2024, but still considered strong.

Other Asian trade deals
A trade deal has also been reached with South Korea that would impose a 15 per cent tariff on imports to the US for South Korea. Malaysia’s tariffs for exports to the US were lowered from 25 per cent to 19 per cent and tariffs on Thailand were reduced from 36 per cent to 19 per cent. 

However, the US decision to impose 25 per cent tariffs on goods imported from India could affect the country's growth prospects. While the direct GDP impact may be modest, and it is seen by many as a negotiating tactic, Todd McClone, portfolio manager, Emerging Markets Growth Fund, thinks that the tariffs on India will add to market volatility at a time when global risk sentiment is already fragile. Nevertheless, the sixth round of US-India trade negotiations is expected in the second half of August, with a more definitive agreement likely by September or October. See here and here.