Swiss see N.Z. as good prospect

Press, 14 June 1980, Page 5

Swiss see N.Z. as good prospect

h’ZPA Berne Influential Swiss bankers wili continue to regard New Zealand as a gilt-edge investment when it moves into huge borrowing for energyrelated projects, the Prime Minister (Mr Muldoon) has been told during a 12-hour visit to Zurich. His visit included calls on the four leading Swiss banks Bnd a dinner attended by the country's financiers and industrialists.

“We are going to be borrowing very heavily indeed »nd I saw no sign, that any hankers were worried about lhat,” Mr Muldoon said. “There was considerable interest in the detail of the rnergy-related projects that we plan.” New Zealand estimates to borrow about $5OOO million over the next 15 years in what Mr Muldoon called at the dinner the most exciting economic challenge New Zealand has faced this century.

During the day, he met senior officials of the Swiss; Central Bank, the National' Bank of Switzerland, the Swiss Bank Corporation, the Union Bank, and the Credit: Bank. |

He also had a meeting be-p fore the dinner with repre- 1 ’ Fentatives of leading Swiss)] companies, many of which; already have investments in j New Zealand. I “There was no word off apprehension about New) Zealand’s future at all,” MrjMuldoon said. “As far as New Zealand is concerned! we are a top-line credit ; risk.” Not all the development capital needed will come ’ from Switzerland, but Mr Muldoon said he did not think New Zealand would have any difficulty raising! what it needed. I