At a meeting with Prime Minister Nguyen Tan Dung in Geneva, Switzerland, on January 27, CEO Paul Calello affirmed that his group will continue to give priority to its development and investment projects in Vietnam.

He praised Vietnam’s effective measures to cushion the adverse impact of the global financial and economic slowdown in 2009. As a result, he said the banking system maintained safe operations and achieved a relatively high growth.

PM Dung appreciated the contributions by Credit Suisse as the biggest international aid sponsor to Vietnam, saying the group has mobilised a total of US$3 billion for the country since 2005.

He said Credit Suisse has sponsored the Vietnam Aviation Corporation (Vietnam Airlines) and the Vietnam Coal and Mining Industries Group (VINACOMIN) and mobilised funds for the Vietnam National Oil and Gas Group (PetroVietnam), the Electricity of Vietnam Group (EVN) and the Vietnam National Shipping Lines Corporation. The group has also provided consultations and guaranteed the issuance of Vietnamese bonds abroad.

The Vietnamese government will continue to create the best possible conditions for Credit Suisse to expand operations successfully in the country, said Mr Dung.

After the reception, Credit Suisse handed over a US$200 million contract it has secured to Kinh Bac Urban Development Joint Stock Company under the Saigon Invest Group.

Credit Suisse is a leading global financial services company, offering clients financial advice in all aspects of private banking, investment banking and asset management.