Credit Suisse Optimistic about Vietnam's Economic Outlook
Vietnam will remain a burgeoning economy for many more years with its potentials in banking and finance sector, said Hans-Ulrich Doerig, vice chairman of Credit Suisse in an interview with a local media.
“Vietnam is determined to build a market economy and follow an open-door policy,” he said, adding that “the government of Vietnam is on the right track and going at a suitable pace.”
However, he said, Vietnam cannot expect development overnight, but has to go step by step.
“There is no need to go faster or slower… Vietnam will need five to ten years to catch up with other countries in the world and become more competitive,” he said.
In the banking and finance sector, Vietnam should maintain the low-cost scheme for the next five or ten years in order to become more competitive, attract investment and catch up with the world, Hans-Ulrich Doerig suggested.
“If the inflation rate is high, which means higher costs and higher prices, you will find it hard to attract investment to Vietnam.”
Vietnamese people are intelligent, but they need to be well trained to learn experience from practice, he said.
The Credit Suisse official concluded that Vietnam is a special case among the burgeoning economies. (VietnamNet)
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