KUALA LUMPUR, Sept 21 — The Selangor International Business Summit (SIBS) 2023 will be organised from October 19 to October 22 with an expected RM1.5 billion in potential negotiated sales, up from RM1.45 billion in last year’s edition, Selangor state executive councillor for Investment, Trade and Mobility Ng Sze Han said.
He said SIBS 2023 would highlight seven core clusters, namely electrical and electronics, life sciences, food and beverage (F&B) manufacturing, transport equipment and machinery and equipment as well as digital investment and logistics services.
“Selangor will continue to promote and explore these rapidly growing sectors and bring more investment to the state.
“These clusters include a range of industries from aerospace to F&B to pharmaceuticals, all of which will serve as the right tools in accelerating Selangor’s economic growth and sustainability,” he told reporters after the launch of SIBS 2023 here today.
Ng said SIBS 2023, organised by Invest Selangor Bhd, is poised to strengthen the state’s position as a gateway to Asean and a preferred investment destination in Asia, featuring over 1,000 booths from 906 last year.
He said there would be a total of six main programmes with an additional five side programmes that are being lined up to run concurrently during the four-day event at the Kuala Lumpur Convention Centre.
“I would like to encourage businesses and industry players, who have yet to sign up, to reach out to Invest Selangor and participate in SIBS in one way or another.
“Take this opportunity to engage in the many discussions, forge productive partnerships, and seize the opportunity within Selangor and the broader Asean market presented during SIBS 2023,” he said.
Ng said as Malaysia’s most progressive and developed state, Selangor led the expansion of the Malaysian economy, contributing 25.5 per cent to the national gross domestic product (GDP) in 2022.
“In showcasing that the economic activities had remained robust and active in the state, Selangor’s annual economic growth of 11.9 per cent was higher than the national growth of 8.7 per cent last year and even higher than the economic growth recorded by other countries in the region.
“In addition, Selangor’s manufacturing sector, which accounted for 32.2 per cent of Malaysia’s manufacturing sector, grew by nine per cent in 2022,” he said.
On the other hand, he said Selangor’s construction sector accounted for 34.1 per cent of the national total while services industry accounted for 26.5 per cent of Malaysia’s services sector, which saw the highest growth among states last year at 13.6 per cent. — Bernama
