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Sarawak in talks to form sovereign fund

 

Bloomberg

The Malaysian state of Sarawak is in talks with Norway about setting up a sovereign wealth fund, Premier Abang Johari Tun Openg said in a statement.
Sarawak, home to some of the biggest aluminum smelters and hydroelectric dams in Southeast Asia, would try to achieve the same standard and success of Norway’s sovereign wealth fund, the premier said after a meeting with Norges Bank Investment Management officials at the bank’s headquarters in Oslo.
Norges Bank manages The Government Pension Fund Global.
“Given the many parallels between Sarawak and Norway, Sarawak was particularly interested in the lessons to be learned from Norway, given that it had around 25 years experience in developing the fund,” Abang Johari said.

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