Kuching: The Sarawak Sovereign Wealth Future Fund, which officially commenced last year, has secured approval from relevant authorities to proceed with global investments. Sarawak Premier Tan Sri Abang Johari Tun Openg announced this development, marking a crucial step in portfolio diversification. This move opens the door to international opportunities that will help maximize long-term returns for Sarawak and its people.

According to BERNAMA News Agency, the process of selecting External Fund Managers is progressing steadily. The first group, focusing on fixed income investments, is now in the final stage of appointment, with more asset classes to be managed in subsequent phases. The Premier emphasized that the focus remains on capital preservation while laying the groundwork for sustainable, long-term growth, ensuring the fund becomes a lasting resource for future generations of Sarawakians. He made these remarks during the winding-up session on behalf of his ministries at the State Legislative Assembly sitting.

The Sarawak Legislative Assembly unanimously passed a Sovereign Wealth Future Fund Board Bill on November 22, 2022, with the state government initially allocating RM8 billion to the fund. As per the bill, the fund will be managed professionally and transparently by a board of guardians, comprising experts and professionals in finance and investment.

Meanwhile, Abang Johari outlined the state government's ambitious goal for the Sarawak Civil Service to make all 1,106 government services fully accessible online by 2030. He stated that digital transformation will lead to greater efficiency and higher productivity in service delivery. The Premier noted that digitalization will assist the region in becoming high-income and developed, facilitating quicker service delivery, reducing bureaucratic red tape, enabling data-driven decisions, and easing business activities. As of 2024, the Sarawak Civil Service has successfully digitalized 55 percent of government services.