Setting up of sovereign wealth fund for benefit of future generations - Abang Johari

MUKAH: The proposed setting up of the Sovereign Wealth Fund is to guarantee a good financial position for Sarawak if its petroleum resources are depleted, said Chief Minister Tan Sri Abang Johari Tun Openg.

He said that through the fund, Sarawak's wealth would be saved and invested professionally by international investment managers and the returns from it would be used to ensure a good future for the coming generations.

"That is why, if GPS wins (in the Sarawak state election) tomorrow, I will establish the Sovereign Wealth Fund for the future of our young ones," he said when launching the Sarawak Youth Tour 2021 programme here today.

The establishment of the Sovereign Wealth Fund to strengthen the finance of the state for the future was among the 34-point manifesto announced by Gabungan Parti Sarawak (GPS) for the 12th Sarawak election.

Abang Johari, who is the GPS chairman, said the state's economic development plan until 2030 had been specially formulated for the youths of today and who will be the leaders of tomorrow.

According to Abang Johari, GPS is featuring many young candidates for this election, including Royston Valentine for the Tellian state seat.

He said many more youngsters would be raised as leaders when it's time to hand over the leadership to them, but he was quick to point out that they should be guided by experienced leaders so as not to act emotionally.

He added that the old and young in GPS have joined hands to take Sarawak towards the economic development of the digital era.

Meanwhile, Abang Johari hoped that apart from diving, swimming and football, youths in the state would also shine in e-sports in keeping with the current trend, adding that they should also get involved in performing arts.

He pointed out that the old State Legislative Assembly building would be turned into a cultural centre, similar to Istana Budaya in Kuala Lumpur, to increase performing arts and culture activities in the state.

-- BERNAMA