The Government of Singapore Investment Corporation (GIC) will focus its future investment on emerging markets like China and India, Channel NewsAsia report said Tuesday.

It quoted GIC's Deputy Chairman and Executive Director Tony Tan as saying at an event marking the corporation's 25th anniversary that these two countries are probably the most important economic transformation in this century.

"I don't think any organization, whether a corporation or investment firm, can afford to ignore the potential areas of investment in China and India," said Tan.

He said that the GIC will also study other new markets such as Brazil, Russia, eastern European countries and Middle Eastern nations.

Established in 1981 to manage Singapore's foreign reserves, the GIC has invested in more than 40 countries and regions with the bulk of its investment going to the United States, Europe and Japan.

Its investment activities cover a variety of asset classes including private equity, equities from both developed countries and emerging markets, bonds, real estate, commodities, hedge funds and short term assets, according to the report.

Currently, the GIC manages more than 100 billion U.S. dollars in funds.

Source: Xinhua

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