Positioning Selangor as top investment draw in Asean - MIDA | Malaysian Investment Development Authority
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Positioning Selangor as top investment draw in Asean

Positioning Selangor as top investment draw in Asean

04 Oct 2023

The 7th Selangor International Business Summit (SIBS) 2023 is set to strengthen the state’s position as a competitive and preferred investment destination in Asia.

Invest Selangor Bhd chief executive officer Datuk Hasan Azhari Idris said the latest edition of the summit promised to pack greater value for its stakeholders.

Set to be held at Kuala Lumpur Convention Centre (KLCC) from Oct 19 to 22, SIBS 2023 will feature a record-high 11 events with approximately 1,000 booths.

“Featuring a total of six main events and five side events, SIBS 2023 will utilise the entire eight halls for exposition and seven halls for conferences at the KLCC, and feature approximately 1,000 booths.

“The summit is also anticipated to draw 50,000 trade visitors and result in potential negotiated sales of RM1.5bil,” he said during SIBS 2023 launch at KLCC.

The six main events include an International Food and Beverages (F&B) Expo, Asean Business Conference, Smart City and Digital Economy Convention, Research and Development and Innovation Expo, International Medic Expo, and Industrial Park Expo.

This year’s theme is “Selangor, Gateway to Asean”.

“SIBS 2023 could also demonstrate our nation’s resilience, agility, and foresight to progress and grow into new sectors and markets.

“This will be a great opportunity for businesses to create, connect, and collaborate with existing and new partners not only from Malaysia, but also from many countries attending the event,” Hasan added.

Parallel with the six main events, SIBS 2023 will also host a culinary festival, coffee week, healthcare conference, tea and coffee expo, and business summit invitational golf tournament.

Selangor investment, trade and mobility executive councillor Ng Sze Han in his speech said SIBS 2023 would be the biggest edition of the event to date with increased participation from local and international exhibitors, as well as leading thought speakers and captains of industries.

“SIBS’ results over the years clearly show that it is fast gaining an international reputation as the premier regional event for businesses seeking to build and expand their presence in the Asean region.

“With the close corporation between the state government and the private sectors, SIBS will continue to be organised effectively and successfully for more years to come,” he said.

Ng was also confident that this year’s theme could strengthen Selangor’s position for cross border collaborations between the state and Asean, especially in the seven core business clusters under the event’s focus.

The seven clusters are electrical and electronics, life sciences, F&B manufacturing, transport equipment, machinery and equipment, digital investment, and logistics services.

SIBS is an annual business event initiated by the Selangor state government and organised by Invest Selangor Bhd.

Last year, SIBS achieved a record-breaking participation of businesses from 60 countries taking up 906 booths, with RM1.45bil in potential transaction value.

Source: The Star