Selangor plans to strengthen SIBS with potential expansion beyond state and KL to establish itself as ASEAN’s premier investment destination.
SHAH ALAM: The Selangor International Business Summit will be further strengthened with potential expansion to locations outside Selangor and Kuala Lumpur.
Menteri Besar Datuk Seri Amirudin Shari stated that after eight successful years, SIBS should broaden its scope and participation while highlighting new sub-sectors like the service economy.
He revealed that hosting the summit abroad is possible since certain sectors have markets extending beyond Malaysia into the 600 million-strong ASEAN region.
“This aligns with one of SIBS’ objectives, namely to serve as the Gateway to ASEAN and promote the region as an attractive investment destination,” he told reporters after a luncheon hosted by Invest Selangor Berhad.
Amirudin expressed satisfaction with the RM8.17 billion in potential transactions recorded at SIBS 2025 held from October 8 to 11 at the Kuala Lumpur Convention Centre.
He noted that last year’s double summit organisation resulted in longer duration and doubled exhibitions, suggesting single organisation could reach RM16 billion if held twice.
The Menteri Besar emphasised that SIBS serves as a strategic platform beyond transaction figures to introduce emerging economic fields and bolster the state’s economic ecosystem.
“We also have a service economy covering highways, roads, ports, airports, water, and electricity services, which remains largely untapped,” he added.
SIBS features eight main components including the Selangor Aerospace Summit and Selangor International Care Summit alongside other specialised business conferences.
The Selangor Industrial and Investment Park recorded the highest potential transactions at RM6.96 billion from the total RM8.17 billion generated across all components. – Bernama
