By Danial Dzulkifly
KUALA LUMPUR, Oct 21 – As the third day of the Selangor International Business Summit (SIBS) 2023 begins, the event has recorded a remarkable RM4 billion transaction value, says state executive councillor for investment, trade and mobility Ng Sze Han.
Ng said a number of memoranda of understanding (MoUs) inked over the first two days contributed to the significant figure and reflected the positive response the trade event received as well as investors’ confidence in Selangor's socioeconomic strength.
“By the end of last night (Friday), our transaction value reached RM4 billion, dramatically surpassing our initial target of RM1.5 billion for this year’s event.
“Given these results, the state government will undoubtedly be setting a better target for next year,” he said at a press conference following his attendance at six MoU signings this morning, aimed toward boosting the biotechnology sector in Selangor.
The state administration had targeted a RM1.5 billion in potential negotiated sales for the seventh edition of the annual summit.
This year’s summit is said to be its largest edition to date, boasting over 1,000 trade booths with an expected turnout of more than 50,000 visitors.
Yesterday, Menteri Besar Dato’ Seri Amirudin Shari shared that the four-day summit recorded RM2.9 billion by midday and anticipated the figure to climb even further.
On the first day of the trade event, Amirudin said the SIBS 2023 had surpassed its target of RM1.5 billion in just six hours.
