Mr Chee, who is also National Development Minister, said he agreed that building liquidity and deepening investor participation are important.
“Growing the equities market cannot … rely only on one silver bullet. It requires a suite of measures that can help to build up the ecosystem steadily and sustainably,” he said.
He said the GLB increases the opportunities and dynamism in Singapore’s equities markets, and if it succeeds, there will be more investor interest and liquidity. That can also spill over to business opportunities for lawyers, accountants and other financial intermediaries.
He acknowledged that success is not guaranteed, but said Singapore is prepared to take calculated risks.
“If you don’t try, the probability of success is zero. If you try, it’s not 100 per cent, but at least we have a shot at it,” he said.
