By Norrasyidah Arshad
SHAH ALAM, Jan 30 — The Selangor International Business Summit (SIBS) 2024 is eyeing up to RM7 billion in potential transaction value, nearly RM1 billion more than last year’s figure.
State executive councillor for investment, trade, and mobility Ng Sze Han said the target is attainable considering the trade show will be held twice this year to accommodate increasing demand.
This year’s events, which will be held at the Kuala Lumpur Convention Centre, are also expected to attract 60,000 visitors from various backgrounds.
“This year, we are hosting SIBS twice after seeing the encouraging response in previous editions. We will prepare 1,200 booths for the two events, showcasing products from various sectors.
“We are increasing the number (of booths) from 972 last year to allow more people to participate,” he said, adding that the first summit will be held from July 25 to July 27 while the second will be held from October 16 to October 19.
For the first event, two trade shows will focus on the investment sector, namely the Selangor Industrial Park Expo (Spark) and the Selangor Asean Business Conference (SABC).
Ng expects Spark to attract multinational companies, government agencies, as well as manufacturers, entrepreneurs, and business associations, while SABC has the potential to attract investors and large corporations from across Asia.
“For the second event, there will be four events, namely the Selangor International Expo (Food and Beverage), the Selangor International Expo (Medic), the Selangor Smart City and Digital Economy Convention, and the Selangor Research and Development and Innovation Expo,” he said.
SIBS, which was introduced in 2016, has attracted the participation of various government agencies, as well as industry players and visitors from foreign countries, including China, Indonesia, Japan, Uganda, Vietnam, Kazakhstan, Korea, Turkey, Kenya, and Australia.
Last year, the summit recorded RM6.12 billion worth of negotiated sales, a fourfold increase compared to its RM1.5 billion target.
