This figure highlights Selangor’s growing appeal as a key investment destination 

by AKMAR ANNUAR 

THE Selangor International Business Summit (SIBS) 2024 Series One, held from July 25 to 27, concluded with RM12.2 billion in potential business transactions, surpassing the RM7 billion target. 

This figure, derived from negotiations and document exchanges at the booths, highlights Selangor’s growing appeal as a key investment destination. 

Last year, the Selangor Investment and Industrial Park Expo (Spark) 2023 recorded a total negotiated transaction value of RM4.6 billion, contributing to the overall SIBS 2023 value of RM6.12 billion. 

The summit’s inaugural events, Spark 2024 and the Selangor ASEAN Business Conference (SABC) 2024, attracted 8,550 visitors from 22 countries, further showcasing the region’s potential. 

According to its post-event report, Spark 2024 featured 285 booths from six countries, compared to 258 booths from four countries in 2023. 

This year’s expo included 18 pitching sessions, four pocket talks and two-panel sessions, providing a platform for businesses to showcase innovative products and services. 

The event facilitated the exchange of 23 letters of agreement, letters of intent, memoranda of agreement and memoranda of understanding, highlighting the robust interest and collaborative spirit among participants. Meanwhile, SABC 2024 featured 27 speakers and panellists from ASEAN member countries and Timor-Leste, drawing over 500 attendees, including more than 200 international delegates.

In contrast, SABC 2023 had 23 speakers and panellists and attracted a total of 783 attendees, with 100 international delegates. This year’s SABC also included the Industri Kreatif ASEAN mini showcase, featuring participants from five countries, which added a cultural dimension to the conference. 

Additionally, the Malaysian Investment Development Authority Invest Series Selangor: Unfolding Its Business Potential played a pivotal role in promoting investment opportunities and fostering economic growth in Selangor. 

SIBS 2024 will continue with its Series Two, featuring the Selangor International Expo (Food and Beverages) 2024, Selangor Life Sciences Convention 2024, and Selangor Smart City and Digital Economy Convention 2024, scheduled to be held at the Kuala Lumpur Convention Centre from Oct 16 to 19, 2024.