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‘Set up Sovereign Wealth Fund to help Sabah make strategic investment’
Published on: Thursday, December 01, 2022
Published on: Thu, Dec 01, 2022
By: Hayati Dzulkifli
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‘Set up Sovereign Wealth Fund to help Sabah make strategic investment’
“Our goal is to ensure that the wellbeing of the people of Sabah in the long term will be well maintained and to make sure strategic investments for the development of Sabah are also prioritised,” Phoong said, when debating the 2023 State Budget.
Kota Kinabalu: The State Government should to establish a “Sovereign Wealth Fund” to help Sabah make strategic investments.

Luyang Assemblyman Phoong Jin Zhe, said Sabah should emulate Sarawak on such initiative that was presented in the Sarawak Assembly and which was approved last week.

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He noted that the revised revenue estimate for 2022 would reach RM6 billion, a positive development if bring good for the people of Sabah if we manage this revenue wisely.
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