Friday , June 21 2024

Singapore wealth fund GIC eyes Vietnam among potential investment destinations

Singapore sovereign wealth fund GIC is eyeing to invest more in Vietnam and other Asian markets as businesses shift their production outside of China.

In response to shifts in the global supply chain, GIC has moved its capital to countries benefiting from them, the company’s chief investment officer Jeffrey Jaensubhakij told Nikkei.

Among them are Mexico, India, Indonesia and Vietnam, he added.

“We think there are many such opportunities in these countries,” he added.

But it will take time for these countries to develop their infrastructure to pump up output and other capabilities, he said.

GIC will still seek long-term investment opportunities in China in sectors such as green technology and electric vehicles.

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