A consortium led by GIC, Singapore’s sovereign wealth fund, and Vingroup Joint Stock, completed a $500m investment in VCM Services and Trading Development Joint Stock, a subsidiary of Vingroup that engages primarily in consumer retail in Vietnam. Vingroup and VCM have established themselves as reputable retail companies with attractive brands in Vietnam’s fast-growing consumer market. As a long-term investor, GIC is confident in the growth outlook for disposable incomes and household consumption in Vietnam.