By Selangor Journal Team
SHAH ALAM, June 22 — In an effort to solidify its position as Malaysia’s leading business hub in the region, the Selangor International Business Summit (SIBS) has unveiled its ambitious plan to promote the state as the gateway to the Asean region.
Investment, Industry and Trade, and Small and Medium Industries Committee chairman Dato’ Teng Chang Khim, in a recent interview with Selangor Journal, explained that the state aims to expand SIBS into a larger-scale event but acknowledged that some time is required to achieve it.
He said as part of its strategic vision, SIBS aims to enhance the profile of its sub-brands, including the Selangor International Expo F&B (SIE F&B), Selangor International Expo Medic (SIE Medic), and Selangor Industrial Park Expo (SPARK), which will be independently organised as industry-focused events.
“In the future, these expos can be organised on different dates and maybe in venues that can accommodate greater participation by both exhibitors and visitors.
“Although SIBS is no longer being organised in the state, the objective of SIBS in promoting Selangor as the gateway to Asean remains.
“This is because Selangor intends to continue branding itself as the best investment destination for exporters and manufacturers looking at Southeast Asian countries as a market.
“And with the support from the state government in organising SIBS annually, in addition to the existing favourable ecosystem in the state, Selangor is the business hub in the region,” he said.
Targeting RM1.5 billion sales
SIBS 2023 will be held from October 19 to 22 at the Kuala Lumpur Convention Centre (KLCC).
This year, Selangor is striving to achieve sales up to RM1.5 billion, representing an increase compared to the RM1.45 billion transactions documented during the 2022 summit.
Furthermore, the upcoming expo has set its sights on drawing the participation of 1,050 booths and 50,000 trade visitors.
Currently, 43 per cent of booth space has been booked so far for the 2023 summit, said Teng.
Teng also expressed confidence in SIBS’ role in establishing itself as a prominent business platform and trade event, distinguishing itself from traditional retail sales expos. With its primary focus on trade visitors, SIBS has limited public access, reserving it only for the final two days, Teng pointed out as an example.
“This trade event aims to grow in size and scale each year. SIBS originated in 2015 as a single event focusing on the food and beverage industry, but it has now evolved into a summit encompassing multiple concurrent events spanning various industries, all taking place within the same operational timeframe.
“Moving forward, our aspiration is for SIBS to expand its scope by incorporating additional industries, particularly those with significant influence that align with the region’s focal sectors,” he said.
Undeterred by challenges
Despite confronting unparalleled challenges caused by the Covid-19 pandemic and the subsequent implementation of movement control orders, SIBS has demonstrated remarkable resilience and sustained growth even during the pandemic’s peak, said Teng.
In 2020, the state administration introduced the Selangor Business Hub, a dedicated online portal designed for SIBS’ virtual exhibitions, conferences and business meetings.
This platform aimed to provide exhibitors with an alternative means of communication for their business endeavours, and many of them actively participated in the virtual format and successfully connected with potential buyers online.
In 2021, SIBS was hosted in a hybrid manner. Despite the stringent Covid-19 restrictions, the expo complied with the regulations outlined by the National Security Council, including measures such as limiting the number of visitors allowed at any given time.
“That year, we recorded over 20 thousand visitors and over RM200 million in potential transaction value.
“Because of our continued support and facilitation for our exhibitors, we received positive feedback, and in return, in 2022, SIBS recorded the largest number of exhibitors, visitors and the highest potential transaction value,” said Teng.
Teng also emphasised that SIBS will maintain an assertive approach to self-promotion by actively participating in major trade exhibitions across the region.
These include prominent events such as Gulfood in Dubai, Foodex in Tokyo, Thaifex in Bangkok, Hofex in Hong Kong, Healthcare Expo in Taipei, and Bio Korea in Seoul, among others.
Teng stated the aim for such attendance is to actively engage with potential exhibitors and buyers, with a specific goal of securing 20 per cent international exhibitor participation in SIBS.
Similarly, SIBS is also working closely with trade organisations, and both local and international chambers of commerce and industries, as a means to attract more visitors to the summit.
Additionally, SIBS intends to offer a special two-night stay package specifically tailored to attract valuable trade delegations and buyers to the event. This package serves as an incentive for their attendance, enhancing the overall appeal and value of the summit.
