KUCHING: An ordinance to enable the establishment of a sovereign wealth fund will be tabled by the State Legislative Assembly (DUN) this coming November.
This was announced by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg in his Hari Gawai message.
“This fund which was modelled on the Norwegian Global Government Pension Fund should begin its operations in 2024 if there is no cross-examination,” he said.
He disclosed that as Sarawak currently has the largest financial reserves in the country.
“This should be partially reinvested to provide revenue returns for future generations through a fund called the sovereign wealth fund.
“The future of Sarawak is very bright. Our state has many resources that can be utilised to be an economic power in the country and in the region,” he said.
According to him many investors would want to invest in Sarawak because of its political stability and the unity of the multi-racial multi-religious.
“I sincerely hope that all Sarawakians continue to be united to place Sarawak in the highest place as a progressive region with dynamic economic and social development,” he said.
