MARUDI: Sarawak would continue to maintain a strong financial position for years to come through disciplined savings, new investment methods, and long-term economic planning.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the state’s sovereign wealth fund, established to secure Sarawak’s future revenue, was designed to grow steadily over the next two decades.
He said Sarawak planned to save RM600 million annually for 20 years, with the fund invested through a combination of fixed instruments and equity.
“We save RM600 million every year for 20 years, and the fund cannot be touched during that period. This approach strengthens Sarawak’s long-term economic position. Even if I am no longer around, the fund will continue to generate income.
“Our investments are managed through new methods – fixed instruments and equity – to increase returns for Sarawak,” he said.
He said this when officiating at the launching of the Miri-Marudi-Mulu (Kuala Melinau) and Long Panai-Long Lama (MMMLL) road project here today.
Abang Johari said the state is also investing in human capital by sending Sarawakian students to specialise in areas such as satellite technology, gas-based petrochemicals, and rare earth processing.
He stressed that rare earth would not be exported in raw form as it was a strategic material, and the state wanted its own experts to manage the full value chain.
“We want our children to gain advanced knowledge, regardless of their background. If they qualify for university, they should study.
“The Sarawak Government provides free tertiary education, so financial constraints are no longer a barrier. That alone costs RM300 million, but it is an investment that will benefit Sarawak in the long term,” he added.
The Premier said the state’s continued focus on education, technology and strategic industries would help drive Sarawak’s development agenda.
He added that tourism remained an important sector, with plans for a state-owned airline to improve connectivity to northern Sarawak, including Baram.
“If other countries with small populations can advance, we can too,” he said, noting examples such as New Zealand’s well-developed economy and tourism sector.
“We want to establish our own airline to bring more visitors to northern Sarawak and generate wider economic benefits for local communities,” he said.
