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Selangor International Business Summit held as hybrid events to draw more investments
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alaysia’s most prestigious annual business event, the Selangor International Business Summit (SIBS) is back with an innovative hybrid model to attract foreign and domestic investment to Selangor, a dynamic state with huge potential in the country.
Initiated by the Selangor government and organized by Invest Selangor Bhd, the state’s investment promotion agency, SIBS 2021 bring together global brands and congregating industry players from around the world.
The fifth edition of SIBS will take place on Nov. 18-21 in hybrid mode, a blend of physical and virtual events, for the first time since the health crisis, providing stakeholders with virtual or onsite experience.
Invest Selangor notes that the hybrid organization of SIBS 2021 is expected to help reenergize businesses affected by travel restrictions due to the COVID-19 pandemic.
Exhibitions and conferences will be held physically at the prestigious Kuala Lumpur Convention Centre and virtually at selangorbusinesshub.my, where participants can access a rich selection of on-demand content, network digitally through an interactive user chat interface, meet with potential partners through its B2B business-matching feature and much more.
Invest Selangor affirms that SIBS 2021 is explicitly designed to promote and facilitate engagement and communication with multiple concurrent events and networking sessions for all stakeholders in physical and virtual events.
First organized in 2016, SIBS serve as an international marketplace for stakeholders to convene and explore the ASEAN market and its huge potential. Since its inception, SIBS has made great strides with the aspiration of making Selangor the “Gateway to ASEAN.”
The Gateway to ASEAN
Selangor is the most progressive state in Malaysia and has proximity to most of ASEAN’s key markets. ASEAN is home to more than 200 of the world’s largest corporations, a combined consumer market of more than 600 million people, and enjoys highly developed infrastructure, well-established investment and an advanced commercial ecosystem.
Selangor remains one of Malaysia’s top investment destinations, with total approved investments amounting to 38.7 billion ringgit (US$9.24 billion) in 2020 despite experiencing the worst of the pandemic. It recorded 324 approved manufacturing projects valued at 18.4 billion ringgit, retaining its top position for the manufacturing sector in 2020.
Invest Selangor says it has attracted 5,984 manufacturing projects in Selangor in the 1999-2020 period. It has been indirectly responsible for creating 446,828 (1999-2020) jobs and attracting more than 198.6 billion ringgit (1999-2020) worth of manufacturing investments to the state.
Invest Selangor will continually strive to create a conducive investment-friendly environment by creating new networks, services and competitive incentives provided by the Malaysian Investment Development Authority (MIDA) – and continually showcase to the world the dynamic, golden state of Selangor.
This year’s summit is expected to attract more participants, with a focus to go toward creating a vibrant business platform for businesses that provide an informative and engaging virtual and physical experience, allowing them to tap into the various opportunities.
SIBS 2021 will include virtual and physical expositions, conferences and a webinar series. The four-day virtual and physical summit will also offer online and onsite networking and business matching opportunities, allowing a larger group of business representatives and attendees to discover, connect and network.
The event will further strengthen Selangor’s position as the most progressive and developed state in Malaysia. Its strategic location, established value chains across numerous industries, advanced physical and online connectivity, and excellent state government support makes it one of the most attractive trading hubs in the region and an ideal gateway to ASEAN and the world for investors.
Selangor continues to position itself as a regional leader in five promising core clusters, namely electrical and electronics, life sciences, food and beverages, transport equipment and machinery and equipment. These clusters include a range of industries from aerospace to pharmaceuticals, all of which will serve as the strategic platforms to continue accelerating Selangor’s economic growth and sustainability.
SIBS 2021 is comprised of six main event components:
- The seventh Selangor International Expo (F&B)
- The fifth Selangor ASEAN Business Conference (SABC)
- The sixth Selangor Smart City & Digital Economy Convention (SDEC)
- The second Selangor R&D and Innovation Expo (SRIE)
- Selangor International Expo (MEDIC)
- Selangor Industrial Park Expo (SPARK)
Unquestionably, SIBS 2021 will provide a broader range of businesses and opportunities, including the chance to discover, connect and build a network with stakeholders worldwide.
To register for the virtual portal, visit selangorbusinesshub.my, and to get more information on the event, visit selangorsummit.com and register your visits for the physical event.
