SHAH ALAM, April 9 — The Selangor International Business Summit (SIBS) will go on as planned in Bandung, Indonesia, in July, as a strategic measure to expand regional markets despite uncertainties due to the West Asia conflict, said state executive councillor for investment, trade and mobility Ng Sze Han.
He said the Selangor government will bring 50 local companies, including small and medium enterprises (SMEs), to SIBS@ASEAN so they may explore wider economic opportunities in the regional market.
“For now, SIBS will be held abroad for the first time and will continue (as planned). This new initiative is seen as important for us to find larger markets because we cannot depend on existing ones.
“If their (50 local companies) products are well received, this will help bring profit and economic returns to Selangor. I see a need for us to help promote their products, especially in the Asian market,” Ng told Media Selangor.
SIBS@ASEAN, which is held under Invest Selangor Bhd, will expand its regional footprint with its first overseas edition in Bandung on July 9 and 10.
Invest Selangor chief executive officer Hasan Azhari Idris said Bandung was chosen as its economic profile is similar to Selangor’s, as both are the main drivers of their respective national economies.
Previously Menteri Besar Dato’ Seri Amirudin Shari said the state is looking into bringing SIBS abroad to cement Selangor’s position as Southeast Asia’s main investment hub.
Amirudin said that after nine years, SIBS needs a new approach to widen its reach and impact to the global level.
