KUALA LUMPUR: Invest Selangor Bhd anticipates a potential RM1.5 billion in negotiated sales from Selangor International Business Summit 2023 (SIBS 2023), fuelled by focused industries such as electrical and electronics, food and beverage manufacturing, digital investment, logistics services, machinery and transport equipment.
According to Selangor State Exco for Investment, Trade and Mobility Ng Sze Han, who is in charge of SIBS 2023, the target of RM1.5 billion is a step upwards from SIBS 2022, which saw record-breaking participation of businesses from 60 countries taking up 906 booths and achieving RM1.45 billion in potential transaction value.
“Selangor is strategically located, at the heart of Asean countries. That’s why the theme for this year is ‘Selangor, Gateway to Asean’. Companies come to Selangor to expand their businesses to other parts of Asia. This is why we believe that Selangor has the advantage to attract investment,” he said at a press conference after the official launch of SIBS 2023 yesterday.
Ng said there are plans to expand the exhibitions in this year’s SIBS to better serve industrial participants and meet growing demand from buyers.
“We are considering the possibility of splitting it into two or more exhibitions. We are thinking along the lines of whether to proceed with this expansion and make it bigger to accommodate more people,” he added.
According to Invest Selangor, it is not limiting the promotional efforts for SIBS only to Asean countries, as it is extending their outreach to Japan, Australia, the Middle East and China.
Ng said Selangor is committed to providing an international networking platform for the business community and an invitation has been extended to them.
At the launch, he said, “At this juncture, I also want 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.”
Initiated by the Selangor state government and organised by Invest Selangor, the annual business event is one of the region’s premier platforms for brands, innovators and other business movers and shakers to explore the potential to be found in the Malaysian and regional markets.
The four-day SIBS 2023 features 11 events, taking up the entire eight exhibition halls and seven conference halls of the Kuala Lumpur Convention Centre, hosting about 1,000 trade booths. The summit is anticipated to draw 50,000 trade visitors.
The six main programmes are: 9th Selangor International Expo (F&B); 7th Selangor Asean Business Conference; 8th Selangor Smart City & Digital Economy Convention; 4th Selangor R&D and Innovation Expo; 9th Selangor International Expo; and 3rd Selangor Industrial Park Expo.
Moreover, SIBS 2023 will be held in parallel with Selangor International Culinary Festival; Selangor International Coffee Week; Selangor International Healthcare Conference; Malaysia International Tea & Coffee Expo; and Selangor International Business Summit Invitational Golf Tournament.
