Sarawak’s sovereign wealth fund gains traction as Sabah parties propose similar plans

By DayakDaily Team

KUCHING, Nov 17: Sarawak’s Sovereign Wealth Future Fund (SSWFF) appears to be setting the national pace as similar fund proposals surface in the election manifestos of political coalitions in Sabah.

Kota Sentosa assemblyman Wilfred Yap said the move by both Parti Keadilan Rakyat (PKR) Sabah and Gabungan Rakyat Sabah (GRS) to feature similar concepts shows how Sarawak’s approach to long-term financial planning has become increasingly relevant to national discourse.

He acknowledged that the Sabah coalitions did not explicitly cite Sarawak, but noted that the proposals reflect a direction Sarawak formalised much earlier through the establishment of its fund in 2022.

“Sarawak introduced our Sovereign Wealth Future Fund in 2022, backed by a strong Ordinance, governance safeguards and strict investment rules.

“Today, both PKR Sabah and GRS Sabah are campaigning on similar proposals. This shows that GPS is setting the standard for Malaysia,” he said in a statement today.

Yap stressed that Gabungan Parti Sarawak (GPS) established the fund as a strategic and long-term initiative rather than as an election pledge, and that Sarawak already has a functioning mechanism with transparent oversight and professional management.

“This is the difference between political rhetoric and responsible governance,” he added.

He said Sarawak’s fiscal resilience stems from its insistence on prudent financial management, a principle consistently championed by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

“Our Premier has made it very clear: Sarawak will not follow the federal government’s dangerous debt trajectory.

“We will not gamble with our children’s future. Sarawak believes in discipline, savings and long-term planning, not unsustainable borrowing,” he asserted.

Yap also claimed that the presence of similar proposals in the manifestos of two major Sabah coalitions reflects how GPS’ governance approach has become associated with stability, credibility and foresight.

“When two competing Sabah coalitions are both moving in the same direction, it is undeniable proof that GPS governance works. Sarawak is no longer just participating in national progress; GPS Sarawak is leading it,” he said.

He expressed confidence that GPS will continue to drive policies that strengthen Sarawak’s financial resilience, economic autonomy and intergenerational prosperity.

“As other states consider taking similar steps, Sarawak continues to move forward with clarity, stability and purpose. GPS delivers results and now the rest of the country is following our lead,” he emphasised. — DayakDaily

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