The Singaporean government should not dictate or interfere with sovereign wealth funds. globalSecond Finance Minister Chee Hong Tat stressed in Parliament the importance of encouraging investment decisions.
GIC’s primary focus is to generate favorable long-term returns for Singapore, and this principle guides its investment strategy.
Chee explained that under the current arrangement, GIC can already invest in Singapore companies if they are able to operate globally and generate good returns for GIC’s portfolio.
Among the famous people Fintech companies in GIC’s portfolio BC Group is the parent company of cryptocurrency exchanges OSL, Stripe, Razorpay, Coinbase, and more.
He noted that GIC’s mission is to preserve and enhance the international purchasing power of Singapore’s reserves through a globally diversified portfolio.
Chee also spoke about efforts to strengthen the domestic stock market, saying a sustainable approach includes nurturing a pipeline of leading companies to be listed on SGX.
the government, Anchor Fund@65helping growth companies prepare for their IPO in Singapore.
The funds have so far invested in nine companies and helped them prepare for their listing on SGX.
Additionally, the Government is committed to helping SGX-listed companies expand their operations and global presence, making them more attractive to international investors.
Various schemes to support business innovation, transformation and internationalisation have been put in place, helping to strengthen the capabilities of Singapore-based companies.
Chee Hong Tat
Chi concluded:
“The government continues to consider new ideas and measures to improve the stock market and support business growth. We will continue to work with industry stakeholders towards this goal.”
