SHAH ALAM, Nov 20 — The state government is examining in detail the costs and methods of organising the Selangor International Business Summit (SIBS) overseas as part of efforts to expand regional trade networks.
Menteri Besar Dato' Seri Amirudin Shari said that hosting SIBS at the international level is part of Selangor’s strategy to enhance trade value between Malaysia and Asean.
“Selangor is ready to serve as the gateway between Malaysia and Asean. This is one of the strategies we are proposing, but we are still refining it in terms of costs and its organisation.
“For example, in certain states in Thailand, Singapore, Indonesia, the Philippines, or perhaps Timor-Leste, these are markets that have not yet been tapped or fully explored.
“Our strategy is not only to intensify engagement with investors in those countries but also to hold SIBS in Asean member states and bring our products there as the main mission,” he said.
Amirudin was responding to Hulu Kelang state assemblyman Dato' Seri Mohamed Azmin Ali's supplementary question regarding efforts to strengthen Asean trade relations during the State Legislative Assembly session today.
SIBS features six main components: the dedicated Selangor Industrial Park Expo (Spark), the Selangor Asean Business Conference (SABC), the Selangor International Food and Beverage Expo (SIE F&B), the Selangor Smart City and Digital Economy Convention (SDEC), the Selangor Aerospace Summit (SAS), and the Selangor International Healthcare Summit (SICS).
Last year, SIBS recorded RM13.86 billion in potential business transactions through two series of events. However, this year’s edition recorded RM8.17 billion, lower than the initial target of RM10 billion.
