Vietnam’s stock market is one of the stock markets that has recorded highest growth in the world 2009, said Peter R. Schmid, External Affairs manager of Credit Suisse, one of the two largest banks in Switzerland.
Established from 1856, Credit Suisse operates in over 50 nations in the world and started its operations in Vietnam from 1999; Credit Suisse began studying Vietnam’s stock market from 2006.
In 2001, Credit Suisse was appointed to be the consultant of Vietnam’s government’s national financial credit ratings for Standard & Poor and Fitch.
In 2005, Credit Suisse worked as the major guarantee for the maiden $750 million government bonds issued in the international market. Credit Suisse sold part of strategic shares of Bao Viet to HSBC’s insurance Company in 2006 & worked as consultant for many Vietnamese businesses’ capital increase.
Peter R. Schmid talked with Vietnam News Agency’s reporter about investment strategies, development plans as well as assessments of Credit Suisse for Vietnam’s financial market.
What are investment strategies of Credit Suisse for developing nations?
We want to operate in almost all Asian financial markets where local laws allow us to provide local people the services of our strengths.
How does Credit Suisse assess Vietnam’s financial market?
The index of HCM City’s stock market has spectacularly grown by some 79 percent since the start of this year. This makes Vietnam’s stock market become one of the stock markets having the highest growth in the world in 2009.
Banking credit has recovered in Vietnam since April. However, we are looking forward to the State Bank of Vietnam’s retightening credit in order to prevent inflation & bubble in Vietnam’s financial market.
What is the development project of Credit Suisse in Vietnam?
Credit Suisse is proud of being the biggest financial co-ordination bank for Vietnam’s market.
From 2005, the bank has increased by some $3 billion worth of our credit supply to Vietnam’s government & private companies. We want to continue appointing donors for big projects and Vietnamese businesses as well as supporting Vietnam during the establishment of a capital market.