Selangor Journal
(From left) Invest Selangor Berhad chief executive officer Dato' Hasan Azhari Idris, Investment, Industrial and Trade and Transport state exco Dato' Teng Chang Khim, and Selangor International Business Summit (SIBS) director Ahmad Khairo Othman. — Picture by Invest Selangor Berhad

SIBS 2019 records over RM400mil potential business transactions

SHAH ALAM, 23 Oct — The Selangor International Business Summit (SIBS) 2019 had achieved its business transaction target of RM250 million, along with a record high RM 447.30 million over the course of four days, says Investment, Industrial and Trade and Transport state exco Dato’ Teng Chang Khim.

In the post-event press conference today, Teng said excluding the transaction from the Malaysia China Entrepreneur Conference (MCEC), which was held concurrently during the summit, SIBS 2019 alone recorded the total transaction of RM247.3 million.

“Last year we achieved RM194.6… this year’s [RM247.3 million] is quite a big jump from the previous, about RM50 million and is very close to our target of RM250 million.

“Next year, we are certainly targetting to increase it more, perhaps another RM50 million,” he told reporters at the press conference held at the Sultan Salahuddin Abdul Aziz Shah building here today.

Teng announced that the upcoming event next year, SIBS 2020, will be held from October 14 to 17 at the Kuala Lumpur Convention Centre.

He added that participants who register before the year-end will receive a 15 per cent discount.

“We organised this expo as part of our effort to achieve the vision in making Selangor as a global trading hub, so we need a platform for trade.

“From one expo, we expanded to four expos, which included a regional business conference… so people would come and trade,” he said.

The fifth edition of the expo featured a total of 359 booths. He said 74.3 per cent out 307 booths were of local companies and the remaining 25.7 per cent were foreign.

Aside from the MCEC, SIBS 2019 had hosted four other expos which included the Selangor International Expo, the Selangor ASEAN Business Conference, Selangor Smart City and Digital Economy Convention, and the Selangor R&D Innovation Expo.

SIBS 2019 was held from October 10 to 13 at the Malaysia International Trade and Exhibition Centre (MITEC), Kuala Lumpur, and hosted an additional 141 international trade buyers from 25 countries.

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