5th SIBS 2021 to return with hybrid edition, showcasing Selangor as premier investment destination

5th SIBS 2021 to return with hybrid edition, showcasing Selangor as premier investment destination
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KUALA LUMPUR (April 8): One of the most anticipated annual business events, the 5th Selangor International Business Summit (SIBS) 2021 will return with a hybrid edition at the Kuala Lumpur Convention Centre from Oct 7 to 10 this year, showcasing Selangor as a premier investment destination.

Selangor State Executive Councillor Datuk Teng Chang Khim said the return of the SIBS 2021 will be an opportunity to strengthen Selangor’s position as a competitive and preferred investment destination in Asia.

“It will also offer the avenue to demonstrate our resilient, agility and determination to succeed and move forward despite the challenges presented by the [Covid-19] pandemic,” he said in his speech at the soft launch of the SIBS 2021 at the Kuala Lumpur Convention Centre here today.

Themed "Tomorrow, Today", the SIBS 2021 will further strengthen Selangor’s position as the most progressive and developed state in Malaysia. 

Teng, who is also the chairman of the State Standing Committees for Investment, Industry and Commerce and Small and Medium Enterprises, said established value chains across numerous industries, advanced physical and online connectivity, and excellent state government support make Selangor one of the most attractive trading hubs in the region and an ideal gateway to ASEAN and the world for investors. 

“Selangor continues to position itself as a regional leader in five promising core clusters, namely electrical and electronics, life sciences, F&B (food and beverage), transport equipment, and machinery and equipment.

“These clusters include a range of industries from aerospace to pharmaceuticals, all of which will serve as the strategic platform to continue accelerating Selangor’s economic growth and sustainability,” he added.

Teng said the SIBS 2021 will be a crucial part of the golden state’s economic rebuilding process to reverse the effects of the global pandemic.

“Historically, Selangor was one of the largest recipient of inward direct investment in Malaysia and in 2020 it topped the list of the best investment destinations in Malaysia, with total approved investments amounting to RM38.7 billion.

“Despite experiencing the worst of the pandemic, the state manufacturing sector also recorded 324 approved manufacturing projects valued at RM18.4 billion. 

“For this sector, Selangor managed to retain its top position in 2020 and even exceeded its achievement of securing approved investment of RM17 billion in manufacturing projects,” he said.

Initiated by the Selangor state government and organised by Invest Selangor Bhd, the virtual SIBS 2021 can be view at www.selangorbusinesshub.my.

Meanwhile, Invest Selangor chief executive officer (CEO) Datuk Hasan Azhari Idris said the SIBS 2021 will be successful and he anticipates full take-up of all 840 booths available and 15,000 trade visitors arriving from over 24 countries. 

The four-day event will be featuring six unique sessions, namely the 7th Selangor International Expo (F&B), the 5th Selangor ASEAN Business Conference, the 4th Selangor Smart City & Digital Economy Convention, and the 2nd Selangor R&D and Innovation Expo.

It will also have two new events components, namely the 7th Selangor International Expo (Medic) 1st edition and the 1st Selangor Industrial Park Expo (SPARK), which are set to encourage a broad range of business and investment opportunities. 

The SIBS has been a platform for ASEAN and International businesses to explore the massive potential of Malaysia and serve as a springboard to tap into the broader ASEAN market, home to over 600 million consumers and more than 200 of the world’s largest companies.