By Yasmin Ramlan
SHAH ALAM, Nov 10 – Starting next year, the Selangor International Business Summit (SIBS) will transition from a national-level event to a key investment programme in the Southeast Asian region.
Menteri Besar Dato’ Seri Amirudin Shari made this announcement when tabling the 2024 Selangor Budget in the state assembly today.
“Next year, Invest Selangor Bhd, as the state’s investment promotion agency, will begin SIBS’ transition from a national programme to a major event in Southeast Asia.
“SIBS aims to enhance the creative economy and celebrate the cultural diversity that are the strength of Southeast Asia,” he said.
“To ensure the success of the 8th SIBS event next year, a total of RM20 million will be allocated (under the state budget).”
According to Amirudin, the seventh edition of the SIBS this year, which took place from October 19 to 21, saw a record participation of 56,321 visitors.
He said the programme also witnessed a remarkable increase in potential transaction value from RM1.45 billion last year to RM4.9 billion, or 176 per cent, through the signing of 32 memoranda of understanding.
Separately, Amirudin said next year onwards, the annual Selangor Aviation Show (SAS) will instead be conducted biennially, with specific focus on sectors like security, defence, business aviation, and the advancement of drone technology in the state.
“To support this initiative, an allocation of RM8 million will be provided,” he said.
The decision took into consideration previous editions of the event, as well as aviation shows conducted in other countries, such as Farnborough, Dubai, and Paris.
Amirudin said this year’s SAS saw the participation of 109 companies, including international participants from the United States, Japan, Australia, Kazakhstan, France and South Korea, and recorded 19,217 visitors attending the event.
He said a total of 28 MoUs worth RM823 million was inked, primarily in the fields of business and general aviation.
