By Norrasyidah Arshad
SHAH ALAM, Aug 9 — The second series of the 2024 Selangor International Business Summit (SIBS) is set to take place over four days this October, with an anticipated transaction value of nearly RM1 billion.
State executive councillor for trade, investment and mobility Ng Sze Han said the projected value includes RM600 million from the Selangor International Expo (Food and Beverage), RM15 million from the Selangor Life Sciences Convention, and RM200 million from the Selangor Smart City and Digital Economy Convention.
“The first series of SIBS was held last month. For the first time, the summit is being organised in two sessions due to high demand from foreign countries. This event has become a key platform for Selangor to dominate the regional market.
[caption id="attachment_362380" align="alignleft" width="374"]
State executive councillor for investment, trade and mobility Ng Sze Han speaks to the media during an interview at Glenmarie Hotel and Golf Resort, Shah Alam, on June 27, 2024. — Picture by HAFIZ OTHMAN/SELANGORKINI[/caption]
“As for the targeted value for the second series, it is based on records achieved in previous editions of the summit. We are confident that this goal can be reached throughout the event, further solidifying Selangor's status as a leading investment hub,” he told SelangorKini.
This year marks the first time that the state government, through Invest Selangor Bhd, is organising SIBS in two separate series.
The first one took place from July 25 to July 27, while the second is scheduled for October 16 to October 19.
The first series featured the Selangor Investment and Industrial Park Expo (SPARK) and the Selangor Asean Business Conference (SABC).
On Monday, Invest Selangor revealed that the July event recorded RM12.2 billion in deals, nearly double the RM7 billion overall target set for both series of the SIBS.
Held at the Kuala Lumpur Convention Centre, the first series saw the signing of 23 letters of acceptance, letters of intent, memoranda of agreement, and memoranda of understanding.
It also attracted 8,500 visitors and included participants from Asean countries, Australia, Canada, China, France, Germany, Japan, and the United Kingdom.
