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Selangor continues to rise with success of SAS, SIBS 2023
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he Malaysian state of Selangor continued on its rising trajectory with the success of the Selangor Aviation Show 2023 (SAS2023) and the Selangor International Business Summit 2023 (SIBS2023), boosting the state’s efforts to position itself as a regional trade hub in current and emerging key economic segments.
SIBS and SAS are two of the many activities organized by the state of Selangor through its agency, Invest Selangor, to drive economic growth of the state as a whole, and to enable the development of various strategic industrial and services sectors specifically.
The two premier international events have boosted the state’s reputation for trade and investment facilitation and economic thought leadership among businesses, governments and other key stakeholders in the ASEAN region. Within a few short years, SIBS and SAS have established themselves as effective avenues for trade and networking in diverse sectors, ranging from aerospace and aviation to food and beverages, healthcare and pharmaceuticals and digital and smart technology products and services.
Selangor Aviation Show 2023
The third edition of the Selangor Aviation Show took place at Skypark RAC in Bukit Jelutong, Selangor, from Sept. 7 to 9. Participation reached an all-time high, recording a total of 19,217 visitors over the three-day event, far surpassing the targeted 12,000 visitors and a significant jump over the 10,563 visitors for SAS2022.
From the figure, 55.1 percent were trade visitors, while 44.9 percent were members of the public. A record total of 109 exhibitors from 10 countries - representing some of the world’s best companies in the aerospace and aviation industries - displayed their latest products and services during the event.
There were 49 static displays, almost double the SAS2022 total, by 28 Malaysian registered and 21 internationally registered aircraft. In addition, 70 panelists from Malaysia and around the world spoke at 34 forums and panel sessions. SAS also featured opportunities for the future generation of the aviation industry, with approximately 26 aviation and aerospace companies participated and opened career booths at the event.
A total of 28 Memorandums of Understanding (MOUs) on various aerospace industry sub-sector collaborations were signed during SAS2023, twice as many compared to SAS2022. The agreements signed cover various collaborations within the scope of the industry. In total, approximately RM 823 million (US$176.6 million) in potential transaction value was successfully recorded over the event.
Selangor International Business Summit 2023
Meanwhile, the 7th Selangor International Business Summit marked another significant milestone for the state’s progress in its position as the gateway to ASEAN.
The four-day summit, held from Oct. 19 to 22, featured a record six main events as well as five parallel events. SIBS2023 also saw greater participation compared to previous years, totaling 972 booths taken up by 612 local and international exhibitors, with events held across all eight expo halls and seven conference halls of the Kuala Lumpur City Centre (KLCC).
The six main events of SIBS2023 were 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).
Meanwhile, the five parallel events were the Selangor International Culinary Festival, the Selangor International Coffee Week, the Selangor International Healthcare Conference, the Malaysia International Tea & Coffee Expo and the SIBS Invitational Golf Tournament.
SIBS2023 attracted a total of 57,249 visitors from 83 countries, ranging from business owners, importers, wholesalers, distributors and retailers to hypermarket purchasing departments. This number far surpassed the 44,342 visitors registered in 2022. In addition, SIBS2023 also hosted a total of 339 trade buyers from 26 countries, 11 supermarket buyers and two pharmacy buyers.
The event recorded the highest ever potential negotiated sales with a total of RM 6.12 billion, a significant leap from the RM 1.45 billion in potential transaction value recorded in SIBS2022. There were 34 MOUs signed during SIBS2023, covering collaborations across various industry subsectors.
With the success of SAS2023 and SIBS2023, Selangor’s importance as a regional investment and global trading hub, as well as the gateway to ASEAN for local, regional and international businesses to penetrate the ASEAN market has gained further recognition among regional and global key stakeholders.
Moving forward, SAS and SIBS will continue to play significant roles for local and international industry players to convene and explore the great potential of the Malaysian and regional markets.
