The Government will continue to find ways to improve the attractiveness of the local equity market, but directing GIC to invest in locally listed companies is not the solution. Second Minister for Finance Chee Hong Tat said this in Parliament on Tuesday in response to an MP’s question. Mr Chee said doing so would compromise the objectives of setting up GIC, which are to preserve and enhance the international purchasing power of Singapore's reserves.
The Government will continue to find ways to improve the attractiveness of the local equity market, but directing GIC to invest in locally listed companies is not the solution. Second Minister for Finance Chee Hong Tat said this in Parliament on Tuesday in response to an MP’s question. Mr Chee said doing so would compromise the objectives of setting up GIC, which are to preserve and enhance the international purchasing power of Singapore's reserves.