SIBS 2019 focused on the F&B manufacturing clusters, which have been supporting and stimulating Selangor’s economic growth

By SULHI KHALID / Pic By TMR File

THE Selangor International Business Summit (SIBS) 2019 recorded RM447 million in business transaction value over the four-day exhibition held recently in Kuala Lumpur.

This surpassed the targeted business transaction value of RM250 million, although the figure included RM200 million garnered from the Malaysia-China Entrepreneur Conference organised by the Malaysia-China Chamber of Commerce.

“Overall, the event organised by SIBS saw a transaction value of RM247.3 million, which is a little shy of the RM250 million target.

“However, we regard the summit as a success despite coming slightly below the target,” Selangor senior exco for investment, industry and commerce, and SMEs Datuk Teng Chang Khim told reporters during a press conference in Shah Alam, Selangor, yesterday.

SIBS 2019 focused on the food and beverage (F&B) manufacturing clusters, which have been supporting and stimulating Selangor’s economic growth, he added.

The event attracted over 34,000 visitors, exceeding the initial expectation of 30,000 visitors.

“For next year, we are aiming at more than 35,000 visitors and it will be held in Kuala Lumpur Convention Centre,” Teng said.

The 2019 edition of SIBS was held at the Malaysia International Trade and Exhibition Centre.

SIBS 2019 featured four components, namely the Selangor International Expo 2019, Selangor R&D and Innovation Expo, Selangor Asean Business Conference (SABC) 2019, and the Selangor Smart City and Digital Economy Convention (SDEC).

The fifth edition of the Selangor International Expo 2019 was held from Oct 10 to 13 with 359 booths.

The event hosted an additional 144 international trade buyers from 25 countries including Australia, China, Hong Kong, India, Japan, Korea, Qatar, Singapore and Thailand.

Meanwhile, the SABC 2019 also saw successful discourse on tackling current issues and opportunities that impact the business landscape across the Asean market.

The two-day conference featured an impressive line-up of over 27 speakers from six countries, including Economic Affairs Minister Datuk Seri Mohamed Azmin Ali and Deputy International Trade and Industry Minister Dr Ong Kian Ming.

Separately, the SDEC 2019 was held from Oct 11 to 13.

The convention featured an exploration of business opportunities such as artificial intelligence (AI), an e-wallet and 5G conference, a One Belt, One Road anime and gaming summit, crowdfunding pitching sessions, and the Malaysia Top e-commerce Merchants Award ceremony.

Featuring 88 exhibitors and 32 international speakers from seven countries, the conference proved beneficial for consumers and vendors alike.

“The success of SIBS 2019 is a definitive gauge for the efficacy of a consolidated summit that addresses the economy in a holistic manner,” Invest Selangor Bhd, the organiser of the summit, said in a statement.