SHAH ALAM, Nov 4 — The Selangor International Business Summit (SIBS) will be further strengthened, with potential expansion to locations outside Selangor and Kuala Lumpur, said Menteri Besar Datuk Seri Amirudin Shari.
He said that after eight years of successful organisation, SIBS should broaden its scope and participation, while highlighting new sub-sectors such as the service economy, to help realise Selangor‘s vision of becoming a leading investment hub.
“With such encouraging participation,it is possible to host the summit outside Selangor and Kuala Lumpur…and maybe even abroad.
“This is because certain sectors have markets extending beyond Malaysia. It’s as large as ASEAN, with over 600 million people, and aligns with one of SIBS’ objectives, namely to serve as the Gateway to ASEAN and promote the region as an attractive investment destination,” he told reporters this after attending a luncheon hosted by Invest Selangor Berhad, the organiser of SIBS 2025 in the federal capital today.
State Investment, Trade and Mobility Committee chairman Ng Sze Han, Invest Selangor chief executive officer Datuk Hasan Azhari Idris and Malaysian National News Agency (Bernama) editor-in-chief Arul Rajoo Durar Raj were also in attendance.
Amirudin said the potential RM8.17 billion in transactions recorded at SIBS 2025, which took place from Oct 8 to 11 at the Kuala Lumpur Convention Centre (KLCC), was expected, and the state government was satisfied with the outcome given the four-day duration of the annual event.
“That was expected because last year the summit was held twice. When it is organised twice a year, the number of days (duration) will definitely be longer, and the number of exhibitions doubles. Following this format, the RM8 billion generated (single organisation) could reach RM16 billion if the event is held twice,” he said.
He added that SIBS goes beyond transaction figures, serving as a strategic platform to introduce emerging economic fields and bolster the state’s economic ecosystem through engagement between investors, industry players, and relevant state government bodies.
“So, the impact of transactions is not everything. In fact, we also have a service economy covering highways, roads, ports, airports, water, and electricity services, which remains largely untapped as an economic market, with the potential to contribute significantly to both the state and national economy,” he said.
Apart from the Selangor Aerospace Summit (SAS) and the Selangor International Care Summit (SICS), SIBS also features six other main components, including the Selangor Industrial and Investment Park (SPARK), the Selangor ASEAN Business Conference (SABC), the Selangor International Food and Beverage Expo (SIE F&B) and the Selangor Smart City and Digital Economy Convention (SDEC).
Of the RM8.17 billion in potential transactions recorded, SPARK had the highest at RM6.96 billion, followed by SABC (RM844 million), SDEC (RM208 million), SIE F&B (RM96.97 million), SAS (RM52.07 million), and SICS (RM5.1 million). — Bernama
