The Selangor International Business Summit (SIBS) returns for the third time to showcase the best the state has to offer; this time with more booths and global brands congregating players in the industry from all around the world.
The event is scheduled to take place 10-13 October at the Malaysia International Trade and Exhibition Centre (MITEC), Kuala Lumpur, and has been designed to promote and facilitate international trade between businesses, facilitate foreign direct investments, and to provide a platform for companies to expand into new markets especially in the ASEAN region.
Comprising two exhibitions and two conferences, the summit brings together some of the most knowledgeable and influential speakers on the key issues that impact international trade. It is set to attract over 23,000 participants, 40 high-level speakers and 300 exhibitors.
SIBS provides business representatives with the opportunity to engage in a dialogue with key decision-makers and demonstrate that business can play a crucial part in developing solutions to the most pressing issues in ASEAN.
“We hope to achieve a transactional value of US$60 million this year and I hope I will be able to report that result at the closing of this event,” said YB Dato’ Teng Chang Khim, Selangor Investment, Industry & Commerce, Small to Medium Enterprises (SMEs) and Transport Exco and standing committee chairman in his welcome speech at the Opening Ceremony.
He explained that about US$163 million in trade value has been recorded since the beginning of the summit in 2015. Additionally, about 60,000 visitors from over 33 countries have visited the summit since then.
Pertaining to that, Selangor Chief Minister Amiruddin Shari delivered an insightful keynote. “The previous business summit has been pivotal in securing nearly RM6 billion in investments in the manufacturing sector for the first half of 2019 while we are on track to reach our forecast of RM10 billion in 2019,” said Amiruddin.
Nearly RM19 billion in investments was recorded by the manufacturing sector alone in 2018, which is more than double the initial target. That’s an increase of nearly 285% compared to the investment performance in 2017.