BANDUNG, July 11 - The curtain drew close to the inaugural Selangor International Business Summit (SIBS)@ASEAN 2026 yesterday, leaving behind stronger economic ties and a renewed commitment between Selangor and West Java to pursue shared growth opportunities.
The first overseas edition of the summit in Bandung, Indonesia, highlighted Selangor’s ambition to position itself as a key regional partner while creating pathways for greater collaboration in strategic industries.
For main organiser Invest Selangor Bhd, the event exceeded expectations, with strong interests from businesses and stakeholders in exploring new partnerships and opportunities between Selangor and its regional counterparts.
Its chief executive officer Dato’ Hasan Azhari Idris said the two-day summit attracted more than 400 participants and facilitated the signing of six memoranda of understanding (MOUs) and one letter of intent (LOI), laying the groundwork for an estimated RM500 million in potential investments.
“This is the first event that we have organised in Bandung and the first SIBS@ASEAN edition.
“The turnout was overwhelming, with more than 400 participants, exceeding our expectations," he told Media Selangor following the summit’s conclusion.
Such was the impact of SIBS@ASEAN that Menteri Besar Dato’ Seri Amirudin Shari announced plans to expand the summit to more cities across the region in the coming years, reflecting its potential as a gateway to strengthen regional investment and strategic cooperation.
In his opening remarks on Thursday (July 9), Amirudin said that Selangor and West Java should deepen cooperation beyond trade and investment to unlock ASEAN's collective strengths, adding that the region's peace, stability, and shared cultural heritage provide a competitive advantage amid growing global geopolitical and economic uncertainties.
His remarks were echoed by West Javan Vice-Governor Erwan Setiawan, who described SIBS@ASEAN as a golden opportunity, urging delegates and investors from Selangor and other countries to explore long-term partnerships with West Java across multiple industries.
Meanwhile, state executive councillor for investment, trade, and mobility Ng Sze Han said Selangor’s strategic partnership with West Java is set to accelerate industrial transformation in both regions while contributing to broader economic growth across ASEAN.
Meanwhile, Hasan noted that the MOUs and LOI signed during the summit covered strategic sectors including tourism, education, talent development and integrated circuit (IC) design initiatives.
The six MOUs involved key industry players, including Wanita Berdaya Selangor (WBS), Indonesia's National Development Planning Ministry (BAPPENAS), the ASEAN Future Workforce Council (AFWC), KADIN Jawa Barat, Tourism Selangor, Batik Air Bandung, the Association of Indonesian Tours and Travel Agencies (ASITA), Universiti Selangor (UNISEL), Institut Teknologi Bandung (ITB), the Malaysia Chamber of Commerce Indonesia (MCCI), and Bank BJB.
Meanwhile, the LOI was exchanged between GreatAsic Technology and the Indonesia Chip Design Collaborative Center (ICDeC).
He observed that while Invest Selangor did not set a specific target for its first SIBS@ASEAN, the state agency is optimistic of generating RM500 million in potential transaction value, although discussions remain at an early stage.
Hasan said that participating companies would require several months of follow-up discussions before any investment value could be confirmed, as many had only met potential partners for the first time during the summit.
"Basically, we did not set a specific target because this is the first (SIBS outside Malaysia). But with moderate expectations, if we can achieve a potential transaction value of RM500 million, that would be good.
“They (companies) need time for follow-up discussions, and we will need a few months to obtain the indicative figures," he said.
However, Hasan emphasised that businesses would first need to gain a better understanding of Indonesia’s market environment, business ,and regulatory landscape before moving forward with potential collaborations.
