By Danial Dzulkifly
SHAH ALAM, Nov 24 — The state government’s decision to organise the Selangor International Business Summit (SIBS) over two separate dates next year is due to the unprecedented surge in demand and space constraints experienced in its most recent iteration.
Speaking to Selangor Journal, state executive councillor for trade and investment Ng Sze Han said the summit’s venue, Kuala Lumpur Convention Centre, struggled to accommodate the overwhelming response from this year’s event, which was held last month.
“The incredibly positive response and high attendance at SIBS 2023 highlighted a need for a more extensive setup,” he said on the sidelines of the State Legislative Assembly sitting yesterday.
“Organising the summit across two different dates will allow us to better cater to the needs of participants and attendees, creating an environment that’s more conducive for business engagements.”
According to Ng, this feedback was especially resonant among food and beverage trade participants at this year’s summit, who were allocated space on the uppermost floor of the convention centre.
This has resulted in poorer visibility and foot traffic among visitors, he noted.
On Monday, Ng had announced that SIBS will be held on two separate occasions next year, specifically from July 25 to 27 and October 17 to 19, in a bid to expand its reach.
He had said in a press conference then that the decision was influenced by the need for a more targeted focus on the diverse economic sectors emphasised under the First Selangor Plan.
SIBS typically encompasses six major events, namely the ninth Selangor International Expo Food and Beverage; eighth Selangor Smart City and Digital Economy Convention; fourth Selangor R&D and Innovation Expo; ninth Selangor International Expo (Medic); seventh Selangor Asean Business Conference; and third Selangor Industrial Park Expo.
The decision to split the summit into two came in the wake of a highly successful SIBS 2023, which ran from October 19 to 22.
The event recorded a potential transaction value of RM6.12 billion, quadrupling its initial target, with the Selangor International Expo Food and Beverage contributing the highest with RM597.3 million.
The summit also witnessed the signing of 34 memoranda of understanding, encompassing a wide array of collaborations across different industries and sub-sectors.
