credit-suisse-invests-in-soes-in-vietnam

Credit Suisse invests in SOEs in Vietnam

The European bank forges financial ties with Vietnam's Vinashin and Vinalines.
Credit Suisse has announced that it has signed an agreement to arrange financing of up to $700 million for Vietnam Shipbuilding Industry Group Vinashin, and a memorandum to develop a financing programme of up to $1 billion and provide other financial services for Vietnam National Shipping Lines Vinalines.

Both documents were signed in the presence of Vietnamese prime minister Nguyen Tan Dung and Credit Suisse group chief executive officer Oswald Gruebel at Davos, which the officials were all attending.

Vinashin is one of largest state-owned enterprises in the nation - it has 52 subsidiaries - made up of 20 shipyards and 32 companies - and it employs roughly 15,000 people. It also has...
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