KUALA LUMPUR, Oct 17 — The Selangor International Care Expo (SICE) has generated RM7.8 million in potential investments through 128 business-matching sessions, said state executive councillor for women empowerment and welfare Anfaal Saari.
She said the figure reflects growing industry interest in the care economy, which Selangor aims to develop into a hub to serve the ASEAN region.
“The potential investments comprised RM1.98 million in medical and assistive devices, while care service providers, digital healthcare and training accounted for RM5.82 million.
“We are very grateful and happy because, following the first event last year, which was considered a success, more people have started talking about the care economy.
“Small and medium enterprises (SMEs) have started to see that there are tremendous opportunities in this sector,” she said at the wrap-up of SICE, held in conjunction with Selangor International Business Summit (SIBS) at Kuala Lumpur Convention Centre today.
Held from Thursday to today, the expo supports the objectives of the Selangor Care Economy Policy 2024-2030. The event also saw six memoranda of understanding signed between businesses and organisations committed to strengthening the care ecosystem.
SICE attracted international delegations from Japan, Singapore, the Philippines and Indonesia, as well as the United Nations Development Programme (UNDP) and the Asian Development Bank (ADB).
The state also received inquiries from regional and international players, including Japan and South Korea, signalling wider interest in the sector.
Thirty-eight exhibitors showcased care-related innovations, products and services, representing local authorities, international bodies, academia, social enterprises and non-governmental organisations.
Separately, Anfaal said the state is developing an incentive framework to encourage greater participation from industry players, including corporations, manufacturers and investors.
“At the moment, we do not yet have anything finalised, but we will develop a set of metrics for these incentives,” she said, adding that the proposed incentives will be aligned with environmental, social and governance (ESG) criteria, particularly the social component.
She said the framework will strengthen collaboration between the public and social sectors.
Meanwhile, Anfaal said SICE produced five key resolutions to guide the future of the care industry: strengthening care financing, empowering care enterprises, developing the care workforce, leveraging technology and artificial intelligence, and encouraging innovation in care services.
“Selangor aims to become a regional care economy hub as it prepares to become an ageing state by 2030, turning demographic challenges into new economic opportunities,” she explained.
