KUALA LUMPUR, Oct 8 — The Selangor International Business Summit (SIBS) is more important now than ever, Menteri Besar Dato’ Seri Amirudin Shari said, citing rapid geopolitical shifts and an evolving global economic order that is redefining trade, power, and partnerships across regions.
He said that with Malaysia assuming Asean chairmanship, this year’s SIBS carries renewed significance in reinforcing Selangor’s vision as the gateway to Asean.
This is particularly crucial as the world shifts from a unipolar structure dominated by the United States to a new world order with the rise of Asean and countries like China, India, Brazil and Russia, he said.
“Today, Selangor has about 7.3 million people across nine districts, but by investing in Selangor, I implore you to widen your horizons to greater possibilities by looking at Southeast Asia’s market of 680 million people.
“... We are home to the 10th busiest port in the world in Port Klang, two main airport terminals in KLIA, and a regional airport catered for business and private jets in Subang, which will continue to be expanded under the Subang Airport Regeneration Plan.
“Our connectivity is further enhanced by a vast array of highways connecting our sea ports and airports to business parks in the Klang Valley and the Integrated Development Region In South Selangor (Idriss), a new regional development area of up to 40,000 acres in Sepang and Kuala Langat,” he said.
Amirudin was delivering his welcome address at the SIBS opening ceremony at the Kuala Lumpur Convention Centre here today.
The menteri besar noted that Selangor is home to the highest number of universities in the country, and assured investors and business owners of a steady supply of graduates to take up new jobs.
Earlier in his speech, Amirudin said SIBS has become a household name among industry players, having significantly grown from its modest beginnings.
“When we began 10 years ago in 2015 and first started talking about SIBS, the response in general was: ‘What is SIBS?’
“Today, after 312,187 visitors across the last 10 years, when you talk about SIBS, the response is no longer ‘what’, but ‘when is it?’. That goes to show that SIBS is today a household name among investors and business owners alike.”
Last year, SIBS recorded RM13.86 billion in potential transaction value across two editions, more than double 2023’s figure of RM6.12 billion.
Held in two series for the first time, SIBS 2024 attracted 52,845 visitors and featured a record 664 exhibitors across 994 booths, and logged 82 memoranda of understanding (MOUs) signed.
This year, the state government has set a modest target of RM10 billion in transaction value and 50,000 attendees, although state executive councillor for investment, trade and mobility Ng Sze Han expects the actual figure to be higher.
