SHAH ALAM: The Selangor International Business Summit 2023 (SIBS 2023) and the Selangor Aviation Show 2023 (SAS 2023) organised by Invest Selangor, recorded a combined potential transaction value close to RM7 billion.

Selangor State Investment, Trade, and Mobility Exco Ng Sze Han stated that SIBS and SAS are among the many promotional activities organised by the state of Selangor to facilitate the development of various strategic, industrial, and service sectors to drive the overall economic growth of the state.

“With the resounding success of SIBS 2023 and SAS 2023, Selangor’s importance as the regional investment and trading hub as well as the gateway to Asean for local, regional and international businesses to penetrate the Asean market is gaining recognition among key stakeholders around the region and the world,” he said during a press conference to disclose the outcome of Selangor Aviation Show 2023 and Selangor International Business Summit 2023 today.

SIBS 2023 recorded the highest ever potential negotiated sales, with a total of RM6.12 billion, a leap from the RM1.45 billion in potential transaction value recorded in SIBS 2022. There were 34 memorandums of understanding (MoUs) signed, covering collaborations across various industry sub-sectors.

SIBS 2023 attracted 57,249 visitors from 83 countries ranging from business owners, importers, wholesalers, distributors, retailers and hypermarket purchasing departments. This number surpassed the 44,342 visitors registered in 2022. SIBS 2023 hosted 339 trade buyers from 26 countries, 11 supermarket buyers and two pharmacy buyers this time around.

Meanwhile, SAS 2023 recorded a total potential transaction value of RM823 million, lower than the previous year, which had surpassed the billion ringgit mark. Ng attributed this decline to the reopening of the aviation sector after the pandemic.

SAS 2023 participation reached an all-time high, recording a total of 19,217 visitors over the three-day event, far surpassing the targeted 12,000 visitors. Of this number, 55.1% were trade visitors, while 44.9% were members of the public. This marks a jump over the 10,563 visitors recorded for SAS 2022.

Twenty-eight MoUs on various aerospace industry sub-sector collaborations were signed during SAS 2023, twice as many compared to SAS 2022. The agreements signed cover various collaborations within the scope of the industry.

A record total of 109 exhibitors from 10 countries representing companies in the aerospace and aviation industries displayed their latest products and services during the event. There were 49 static displays, almost double of the total in SAS 2022 by 28 Malaysia-registered aircrafts, and 21 international-registered ones. There were 70 speakers from Malaysia and around the world, speaking at 34 forums and panel sessions.

In addition, SAS also featured opportunities for the future generation of aviation industry talents, where 26 aviation and aerospace companies participated and opened career booths in SAS 2023.

Ng said that SAS 2023 success in terms of public interest, business participation, and thought leadership, marks the event’s rising importance in positioning Selangor as a regional leader in the aerospace and aviation industries.

Clickable Image
Clickable Image
Clickable Image