Petaling Jaya: The Selangor state government and Invest Selangor Bhd aim to drive economic growth and build business partnerships across the ASEAN region through the Selangor International Business Summit 2024 (SIBS 2024).
Selangor state executive committee member for investment, trade and mobility Ng Swee Hann said SIBS has already made great strides in the Asean business community.
“Last year, the Selangor Investment and Industrial Estate Expo (SPARK) garnered positive response not only from industrial estates in Selangor but also from other states and Asean countries.
“Building on this success, we will expand the event this year to accommodate more industrial developers and strengthen Selangor’s role as a gateway to Asean,” Ng told reporters at a press conference after the official launch of SIBS 2024 today.
On concerns about competition, Ng said the company does not see the expansion as a competition but as an opportunity to strategically position Selangor within Asean.
“When you invest in Selangor, you invest in Asean. If investors look not just at Selangor’s population of 6.5 million or 7 million, but at the whole of Asean’s population of 600 million, they can make a bigger impact,” he explained.
Ng said SIBS 2024 is set to be the biggest one yet, with this year’s summit aiming to achieve a potential trade volume of 7 billion ringgit and expecting more than 60,000 visitors from 80 countries.
“Last year it reached RM6.12 billion. With two series and more participants this year, we expect more visitors and exhibitors and therefore potential transaction value should also increase,” Ng said.
SIBS 2023 attracted over 57,000 visitors from 80 countries who visited around 900 booths over the course of about a week. The summit recorded business sales worth RM6.12 billion.
SIBS 2024, scheduled to kick off at the Kuala Lumpur Convention Centre next month, will be held in two series – Series 1 from July 25 to 27 and Series 2 from October 16 to 19. The series will provide industry insights, engagement opportunities and an international networking platform.
The first series will focus on investment themes across two key events:
Selangor ASEAN Business Conference (SABC): A regional forum featuring distinguished speakers to discuss investment challenges and opportunities in Southeast Asia.
Selangor Ministry of Investment and Industry Park Expo (SPARK): It will showcase prominent players in the industrial park ecosystem across ASEAN, as well as various state governments and industry stakeholders.
The second series will delve deeper into specific areas through three key events:
Selangor International Expo (Food & Beverage): It will feature local and international exhibitors and forums on food security.
Selangor International Halal Convention (SELHAC): The focus will be on halal certification, logistics and digital innovation.
Selangor Life Sciences Convention and Selangor Smart City and Digital Economy Convention: Showcasing innovations in life sciences and the digital economy.
SELHAC will be held concurrently with SIBS 2024 from Oct 16 to 19 and will focus on revitalizing the halal ecosystem through discussions on certification, supply chain logistics and digital innovation. Organized by HIS Toyyiba Sdn Bhd, a subsidiary of Menteri Besar Selangor (Incorporated), SELHAC aims to drive growth and strengthen competitiveness in the global halal market.
