KUALA LUMPUR (Sept 21): The 7th Selangor International Business Summit 2023 (SIBS 2023) will continue to strengthen Selangor’s position as “gateway to ASEAN” and a preferred investment destination in Asia, said the new Selangor State Exco for Investment, Trade and Mobility Ng Sze Han.

In his speech during the launch of the summit at the Kuala Lumpur Convention Centre, Ng said there are boundless opportunities for mutual growth and shared success within Selangor and ASEAN.

“Take this opportunity to engage in the many discussions, forge productive partnerships, and seize the opportunity within Selangor and the broader ASEAN market presented during SIBS 2023,” Ng said.

He also said that Selangor’s profile as regional leader is also expected to rise in seven core clusters, namely electrical and electronics (E&E), life sciences, F&B manufacturing, transport equipment and machinery & equipment as well as digital investment and logistics services.

“Selangor will continue to promote and explore these rapidly growing sectors, and bring more investment to the state of Selangor,” said Ng.

“Selangor has also topped the list of investments into these sectors over the past several years. These sectors are well represented in key promotional activities of the state such as SIBS 2023, which will continue to enhance Selangor’s leading position,” he added.

The annual business event, themed 'Selangor, Gateway to ASEAN', is initiated by the Selangor state government and organised by Invest Selangor Bhd.

The summit will take place for four days beginning Oct 19 to 22, to be held at the convention centre. It targets 1,000 trade booths, 50,000 trade visitors with potential negotiated sales of RM1.5 billion.

The last SIBS 2022 managed to achieve RM1.45 billion in potential transaction value, with 906 booths showcased.

It will consist of six main programmes including the 7th Selangor ASEAN Business Conference (SABC), 9th International Expo (F&B), 8th Selangor Smart City & Digital Economy Convention (SDEC), 4th Selangor R&D and Innovation Expo (SRIE), 9th Selangor International Expo (Medic) and 3rd Selangor Industrial Park Expo (SPARK).

Several other parallel events include the Selangor International Culinary Festival, Selangor International Healthcare Conference and the Selangor International Business Summit Invitational Golf Tournament.