The Singapore government should not direct or interfere with sovereign wealth fund GIC’s investment decisions, emphasised Second Minister for Finance, Chee Hong Tat, in Parliament.
GIC’s primary focus is to achieve good long-term returns for Singapore, and this principle guides its investment strategies.
Chee explained that under current arrangements, GIC can already invest in Singapore companies if they have a global footprint and can generate good returns for GIC’s portfolio.
Among the renowned fintech companies in GIC’s portfolio are BC Group — the parent company of crypto exchange OSL, Stripe, Razorpay, and Coinbase, among others.
He noted that GIC’s mandate is to preserve and enhance the international purchasing power of Singapore’s reserves through a globally diversified portfolio.
Chee also addressed efforts to bolster the local equity market. He shared that a sustainable approach involves fostering a pipeline of strong companies to list on SGX.
The government has established funds, such as the Anchor Fund @ 65, to support growth enterprises and prepare them for IPOs in Singapore.
These funds have invested in nine companies to date, aiding their preparation for listing on SGX.
Additionally, the government is focused on helping SGX-listed companies expand their operations and global presence, making them more appealing to international investors.
Various schemes have been implemented to support business innovation, transformation, and internationalisation, helping Singapore-based companies enhance their capabilities.

Chee concluded,
“The government remains open to new ideas and measures to improve our equity market and support business growth. We will continue to work with industry stakeholders on this goal.”