PETALING JAYA: The Selangor government and Invest Selangor Bhd, through Selangor International Business Summit 2024 (SIBS 2024), is set to bolster economic growth and forge business partnerships across the Asean region.
Selangor Exco for Investment, Trade, and Mobility Ng Sze Han said SIBS has already made significant strides in the Asean business landscape.
“Last year, the Selangor Investment and Industrial Park Expo (SPARK) exhibition garnered positive responses not only for the industrial park in Selangor but also from other states and other countries in Asean.
“Building on this success, we have expanded the event this year to accommodate more industrial developers, solidifying Selangor’s role as the gateway to Asean,” Ng told reporters at a press conference following the official launch of SIBS 2024 today.
Addressing concerns about competition, Ng said they view this expansion not as competition but as an opportunity to position Selangor strategically within Asean.
“So when you invest in Selangor, you invest in Asean. So this is how we can create a bigger impact that the investors are not only looking at the 6.5 million or 7 million population in Selangor, but they are looking at the larger 600 million population in Asean,” he explained.
Ng said SIBS 2024 is set to be the biggest edition yet. He said this year’s summit aims to achieve a potential transaction value of RM7 billion and anticipates over 60,000 visitors from 80 countries.
“Last year, we reached RM6.12 billion. This year, with two series and increased participants, we expect more visitors and exhibitors, which should also boost the potential transaction value,“ Ng stated.
SIBS 2023 welcomed over 57,000 visitors from 80 countries, who visited around 900 booths over nearly a week. The summit recorded RM6.12 billion worth of negotiated sales.
Scheduled to begin next month at Kuala Lumpur Convention Centre, SIBS 2024 will be held in two series: Series One from July 25 to 27, and Series Two from Oct 16 to 19. This series will offer industry insights, engagement opportunities, and international networking platforms.
The first series will focus on investment themes through two key events:
Selangor Asean Business Conference (SABC): A regional forum addressing investment challenges and opportunities within Southeast Asia, featuring distinguished speakers.
Selangor Investment and Industrial Park Expo (SPARK): Showcasing prominent players in the industrial park ecosystem across Asean and from various state governments and industry stakeholders.
The second series will delve into specific sectors with three main events:
Selangor International Expo (Food & Beverages): Featuring local and international exhibitors and forums on Food Security.
Selangor International Halal Convention (SELHAC): Highlighting halal certification, logistics and digital innovation.
Selangor Life Sciences Convention and Selangor Smart City and Digital Economy Convention: Showcasing innovations in life sciences and digital economy sectors.
SELHAC, running concurrently with SIBS 2024 from Oct 16 to 19, will focus on revitalising the halal ecosystem through discussions on certification, supply chain logistics, and digital innovation. Organised by Menteri Besar Selangor (Incorporated) subsidiary HIS Toyyiba Sdn Bhd, SELHAC aims to foster growth and enhance competitiveness in the global halal market.
