SHAH ALAM, Feb 12 — The Selangor International Business Summit (SIBS) will expand to Indonesia to help state-based companies tap larger regional markets, said state executive councillor for investment, trade and mobility Ng Sze Han.
He said the move reflects the state administration’s broader push to globalise its businesses via government-to-government (G2G) engagements, especially in ASEAN and Central Asia, which he described as emerging growth frontiers.
He said Indonesia was chosen as it is one of the largest markets in the region, and offers significant expansion opportunities for Selangor firms.
Most likely to be held in West Java in July, Ng said the exact location hasn’t been decided.
“Indonesia is one of the largest markets in this region, and I am confident companies from Selangor have strong opportunities there,” he said in a press conference after launching the Local Business Connect (LBC) initiative at Dewan Raja Muda Musa here today.
Previously, Menteri Besar Dato’ Seri Amirudin Shari said the state government was considering holding SIBS abroad to expand trade networks internationally.
Amirudin said potential host countries included Thailand, Singapore, Indonesia, the Philippines, and Timor-Leste, noting that these markets remain largely untapped.
In his speech today, Ng said that during his working visit to Kazakhstan with Invest Selangor Bhd chief executive officer Dato’ Hasan Azhari Idris, Selangor companies were told to seek potential investment in the Central Asian nation.
“(During the visit), we aimed to promote Selangor as the region’s premier investment destination.
“But this time, our trip to Kazakhstan served a different purpose — to help Selangor-based companies explore investment opportunities there. I believe it is time for our companies to seek larger-scale investments.
“We need to go beyond Selangor and Malaysia. We need to look for better opportunities for the companies located in Selangor,” he said in his speech.
Ng said the recent trade mission to Kazakhstan had included two local companies, to allow them an initial step to explore opportunities in Central Asia.
“Central Asia is definitely one of the markets, and also ASEAN. We have very good diplomatic relations with these countries, which makes it easier for us to enter their local markets.
“For us, the important role of the Selangor government is through G2G engagement to bring our companies beyond Selangor and into bigger markets,” he said.
He added that sectors such as aerospace manufacturing, services, and utilities have strong potential to penetrate overseas markets.
Ng said the state government’s role is not just to provide incentives, but also to help Selangor companies access overseas markets through diplomatic and institutional support.
