PETALING JAYA, Aug 27 — The state is targeting RM8 billion in potential transaction value and at least 500 high-impact business meetings at this year’s Selangor International Business Summit (SIBS) as it seeks to cement its position as a gateway to ASEAN.
State executive councillor for investment, trade and mobility Ng Sze Han said the target reflects the Selangor government’s efforts to attract quality investments and strengthen collaborations between industry players through the annual summit.
“SIBS 2026, which will be held from October 14 to 17 at the Kuala Lumpur Convention Centre, will also feature new components, including the Selangor TechSphere Summit (STS) and the Selangor Career Outreach (SCOUT) talent programme.
“The talent programme aims to develop and match local talent with the needs of industries in Selangor,” he said at the SIBS launch at Sheraton Petaling Jaya Hotel here today.
Other than STS and SCOUT, the other components of this year’s SIBS are the Selangor-ASEAN Business Conference (SABC), Selangor Investment and Industrial Park Expo (SPARK), Selangor AI and Semiconductor Summit (AiSEM@Selangor), Selangor Investment Forum (SIF), and Selangor International Care Expo (SICE).
Last year, SIBS netted RM8.17 billion in potential transactions, short of its RM10 billion target. In 2024, the summit recorded RM13.86 billion in potential transaction value across two editions.
Ng said the state’s main objective is not just to generate transactions through the summit, but to build a more comprehensive ecosystem for strategic industries in Selangor.
“These include the semiconductor, aerospace, automotive, digital, creative and care economy sectors, with the latter also seen as having significant market potential,” he said.
He explained that SIBS means to achieve Second Selangor Plan (RS-2) objectives, especially by facilitating industry collaborations, foreign direct investments, and venture capital to develop strategic industries.
“Every partnership and agreement established through SIBS is aimed at contributing towards Selangor’s broader ambition of becoming an ASEAN model for economic development and quality of life by 2030,” Ng said.
SIBS is Selangor’s annual international trade and business platform organised by Invest Selangor Bhd, and gathers local and international companies, investors and industry players to showcase their products, explore business opportunities, and strengthen trade links with ASEAN markets.
This year’s SIBS is the 10th edition of the summit and is intended to position Selangor as a leading regional investment and business hub.
