Organized by Invest Selangor Berhad, this year’s SIBS kicked off on Oct. 19 and will run through Oct. 22. The four-day event promises the largest and most exciting edition of this important regional business networking and thought leadership event.

SIBS 2023 is expected to host a larger crowd and participants, totaling 1006 booths altogether.

The summit will host six main events and five parallel programs, running concurrently at the KLCC. SIBS is occupying all eight expo halls and seven conference halls at KLCC.

The event will feature six programs, namely the 9th Selangor International Expo (F&B), the 7th Selangor ASEAN Business Conference (SABC), the 8th Selangor Smart City & Digital Economy Convention (SDEC), the 4th Selangor R&D and Innovation Expo (SRIE), the 9th Selangor International Expo (Medic) and the 3rd Selangor Industrial Park Expo (SPARK).

Aside from these six primary programs, SIBS 2023 will also feature five collocated programs, namely the Selangor International Culinary Festival, Selangor International Coffee Wee, Selangor International Healthcare Conference, Malaysia International Tea & Coffee Expo and SIBS Invitational Golf Tournament.

The Selangor International Expo (F&B) 2023 features a total of 332 booths, with international F&B industry players from Malaysia, China, Indonesia, Japan, Uganda, Vietnam, Kazakhstan, Korea, Turkey, Kenya and Australia.

The Selangor International Expo (Medical) 2023, a dedicated healthcare, pharmaceutical and medical device expo, is featuring a total of 84 booths.

Key industry players for SIE (Medical) originate from Malaysia, China, Japan, Australia, Switzerland, France, the United States, Singapore, Germany and India.

YB Tuan Ng Sze Han – the new Selangor State exco for investment, trade and mobility and the new exco in charge of SIBS – said during the opening ceremony that SIBS 2023 had reaffirmed its continual role as the regional premier summit for local and international industry players to convene and explore the great potential of the Malaysian and regional markets.

“The SBIS has grown in leaps and bounds to become one of Malaysia’s largest international marketplace and business networking events for local and international exhibitors, trade visitors and conference attendees,” he said.

He noted that with a total of participating 328 trade buyers from 26 countries, in addition to trade visitors and “other hosted delegations arriving today, I firmly believe that together, we are able to achieve our 2023 target of RM1.5 billion worth of negotiated transaction value over the next four days,” he said.

Meanwhile, YAB Dato’ Seri Amirudin Bin Shari, Menteri Besar of Selangor pointed out, “Selangor is the best place for you to put your money because we have the necessary ingredients to success as we truly believe no one should be left behind.”

He went on to say, “I am confident this summit will be an opportunity to discover new areas, whether in innovation or technology, because your investment will be instrumental to allowing our young people to have brighter futures.”

He highlighted the competitive advantages that Selangor offered, which would bring many benefits to prospective investors that put their money in the Malaysian state.

The advantages are related to factors that investors commonly seek, such as supporting infrastructure and facilities, ease of doing business, long-term security, legal certainty and sustainable economic growth vision.

According to him, Selangor is home to the 12^th busiest seaport in the world, and two major airport terminals.

“Of the 240 aerospace companies in Malaysia, 62 percent are located in Selangor, with roads and highways better connected to buses and trains,” he said.

Selangor accounts for 25.5 percent of the national economy, possessing a better mix of industries, from manufacturing in the automotive, electrical and electronics space to logistics and pharmaceuticals.

To ensure sustainable workforce growth, the largest local universities and brightest minds are involved in the economic development as they regard Selangor as their new home.

“That means we will have a steady supply of workforce to take up the jobs your investments will be able to create,” he said.

He said Malaysia was an easy place to do business, especially following the announcement of four important documents, namely the Madani Economic Framework, followed by the National Energy Transformation Roadmap, the New Industrial Master Plan and a clearer road toward the future.

He revealed how a number of foreign investors had shown their interest in setting up shop in Selangor and how foreign investors contributed to Selangor’s economic growth.

“Just the other day, I officiated Daiso Japan’s largest global distribution center, which will be built in Pulau Indah, Selangor,” he said.

“Others such as Toyota, Texas Instruments, Wistron, Airbus, Aerodyne and ALP have been instrumental in Selangor’s economy growing by 11.9 percent in 2022, surpassing national growth by 3.2 percent,” he noted.

Despite global uncertainty, Southeast Asia provided hope for a brighter, more just world, he said.