SIBS2023 expects RM1.5b in sales

The summit will feature 11 events for its stakeholders and the host for approximately 1,000 trade booths


THE Selangor International Business Summit (SIBS) this year is set to be the biggest edition with a potential negotiated sales of RM1.5 billion and 50,000 expected trade visitors.

Selangor Executive Councillor for Investment, Trade and Mobility Ng Sze Han said SIBS2023 will further validate Selangor’s position as the most progressive and developed state in Malaysia, highlighting the state’s contribution of 25.5% to Malaysia’s GDP in 2022.

“In showcasing that the economic activities had remained robust and active in the state, its annual economic growth, of 11.9%, was higher than the national growth of 8.7% last year and even higher than the economic growth recorded by other countries in the region.

“It is interesting to note that Malaysia’s record of 8.7% economic growth in 2022 was in fact already the highest among Asean countries, with Vietnam’s at 8%, the Philippines at 7.6%, Indonesia at 5.3% and Cambodia at 5.1%,” he said in his officiating speech at the launch of SIBS 2023 today.

Taking place from Oct 19 to 22, 2023, at the Kuala Lumpur Convention Centre, SIBS 2023 will offer 11 events (six main events and five side events) for its stakeholders and the host for approximately 1,000 trade booths.

The six main programmes at the event will be the 9th Selangor International Expo (food and beverage), the 7th Selangor Asean Business Conference; the 8th Selangor Smart City & Digital Economy Convention, the 4th Selangor R&D and Innovation Expo, the 9th Selangor International Expo (Medic) and the 3rd Selangor Industrial Park Expo.

While the other five events are Selangor International Culinary Festival, Selangor International Coffee Week, Selangor International Healthcare Conference, Malaysia International Tea & Coffee Expo and Selangor International Business Summit Invitational Golf Tournament

Invest Selangor CEO Datuk Hasan Azhari said SIBS has developed into becoming the nation’s largest international marketplace and business networking events for exhibitors, trade visitors and buyers, investors and conference delegates that match business communities across the region.

“With the theme, ‘Selangor, Gateway to Asean’, SIBS2023’s objective is to strengthen Selangor’s position as a competitive and preferred investment destination in Asia, as well as to demonstrate our nation’s resilience, agility and foresight to progress and grow into new sectors and markets,” he said.