RM7bil target for Selangor international business summit

THE Selangor International Business Summit (SIBS) will be held in two segments for the first time this year.

The first series is from July 25 to 27 and the second from Oct 16 to 19, at Kuala Lumpur Convention Centre.

Last year, SIBS achieved a potential transaction value of RM6.12bil.

This year’s event targets a potential transaction value of RM7bil.

“This year, SIBS aims to receive 60,000 business visitors from over 80 countries,” said Selangor state investment, trade and mobility committee chairman Ng Sze Han.

SIBS, organised by Invest Selangor Bhd, aims to position the state as a gateway to Asean and a regional economic powerhouse.

“We are also looking at high-impact or high-salary job creation for young graduates in Selangor,” Ng said after the soft launch of SIBS 2024 at a hotel in Petaling Jaya.

This year’s SIBS features five events in the two series.

In the first series, the events to be featured are Selangor Asean Business Conference and Selangor Investment and Industrial Park Expo.

Series two features three events, namely Selangor International Expo (Food and Beverages), Selangor Life Sciences Convention and Selangor Smart City and Digital Economy Convention.

Selangor International Halal Convention (Selhac), organised by Halal International Selangor (HIS Toyyiba), is also set to return for the third time with this year’s convention, in conjunction with series two.

The first two Selhacs were held independently in previous years.

“We expect to achieve more than 60% market penetration and at least 150 participating companies.

“Previously we had about 8,000 visitors when we organised it as a standalone conference but this year with SIBS, I think that number would be doubled fairly easily,” said state Islamic affairs and cultural innovation committee chairman Dr Mohammad Fahmi Ngah at a press conference.

This year’s Selhac will focus on three areas – accelerating halal certification for small and medium enterprises (SMEs), optimisation of halal supply chain logistics and adopting halal digital innovation.

Also present were Selangor Deputy State Secretary (Development) Datuk Johary Anuar, HIS Toyyiba acting chief executive officer Muhammad Syaril Showkat Ali, HIS Toyyiba chairman Mohd Zawawi Ahmad Mughni, Menteri Besar Selangor (Incorporated) group chief executive officer Saipolyazan M Yusop and Invest Selangor chief executive officer Datuk Hasan Azhari Idris.