Malaysia’s Sarawak region to receive advice from Norway creating a sovereign wealth fund

Sarawak, the largest state in Malaysia, will engage seriously with Norway in an earnest effort towards the successful formation and management of its own sovereign wealth fund, Sarawak Premier Tan Sri Abang Johari Tun Openg said in a news report.

Given the widely acclaimed success of Norway’s sovereign wealth fund that had been managed with the highest standard of governance since its inception in 1996, it was a standard Sarawak needed to benchmark on, he pointed out.

“Given the many parallels between Sarawak and Norway, Sarawak was particularly interested in the lessons to be learnt from Norway, given that it had around 25 years of experience in developing the fund,” he said in a statement issued from Oslo today.

Norway’s sovereign wealth fund has been managed with the highest standard of governance since its inception in 1996 and the premier pointed out that it is a standard Sarawak needed to benchmark itself on.

“Given the many parallels between Sarawak and Norway, Sarawak was particularly interested in the lessons to be learnt from Norway, given that it had around 25 years of experience in developing the fund,” he said in a statement issued from Oslo last week.

Abang Johari was on a two-day visit to Norway as part of his week-long itinerary to Europe that saw him being given the honour to deliver a keynote address at the World Hydrogen 2022 Summit and Exhibition in Rotterdam, Holland earlier in May.

About Jaqueline Deeon

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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