SELANGOR INTERNATIONAL BUSINESS SUMMIT (SIBS) 2019
Bigger Numbers & Space, Better Opportunities, More Countries & More Visitors with Activities of Greater Prestige & Excitement!
China focuses on young entrepreneurs at Selangor International Business Summit 2019
The Selangor International Business Summit (SIBS) 2019, organized by Invest Selangor Berhad under the patronage of the State Government of Selangor, serves as a platform to encourage direct peers’ engagement, advanced dealmaking, strategic partnerships and business networking opportunities.
“Selangor continues to raise the bar as the largest economic driver in Malaysia, with 23% contribution to Malaysia’s GDP in 2017. In terms of investment, we recorded our best performance in history with a RM18.9 billion, with 241 approved projects in 2018. In 2019, we are targeting to receive a total investment valued at RM10 billion, a conservative forecast due to various global economic uncertainties”, he added.
SIBS 2019 also offers a very strong line up of programmes, which will include a high value showcase of the 5th Selangor International Expo 2019, the 3rd Selangor-ASEAN Business Conference 2019, the 4th Selangor Smart City and Digital Economy Convention and the inaugural Selangor R&D and Innovation Expo to encourage greater business opportunities for SIBS 2019 participants.
There are more side programmes featuring Malaysia International Tea & Coffee Expo 2019 (MITCE), the Selangor International Culinary Festival 2019, and Selangor International Halal Conference to encourage greater business opportunities for SIBS 2019 and that is set to become the highlight this year.
The Selangor International Business Summit (SIBS) is an annual international event in Malaysia that caters specifically toward positioning the state of Selangor as a prominent economic catalyst to propel businesses in the South East Asian region. Selangor continues to play its role as an important Gateway to ASEAN, where local and international businesses can build and strengthen their presence in ASEAN. Selangor International Business Summit provides the avenue not only as the gateway into the Malaysian market, but more importantly, continuing to serve as a springboard to tap into the broader ASEAN market which is home for over 600 million consumers and more than 200 of the world’s largest companies.
According to Y.A.B Tuan Amirudin Bin Shari, Dato' Menteri Besar Selangor (Chief Minister of Selangor), “SIBS will help strengthen Malaysia’s profile internationally as the strategic partner for businesses to enter the ASEAN market, and Selangor specifically as a solid proposition to be the hub in the region, where businesses are able to gather, engage and network in one place, that is Selangor, The Gateway to ASEAN”.
“In 2018, Selangor International Business Summit was held across 18,808 square meters, with a total of 548 exhibition booths. The summit saw a total of 23,737 visitors and recorded a negotiated trade transaction valued at RM194.6 million. This year, we are anticipating a bigger event this year, targeting 850 booths and expecting 30,000 visitors not only from Malaysia, but also from countries in the region.” said Y.B Dato’ Teng Chang Khim, Selangor State Senior Executive Councillor (EXCO) for Investment, Industry and Commerce and SME.
In relations to China as a strategic partner to Selangor, the country plays an important role in Selangor’s trading and investment sector. China was Selangor’s top investor with RM3.93 billion of investment value in 2018, mainly in the manufacturing industry such as basic metal products and paper, and it’s possible for China to maintain its position as the top investor in Selangor for this year in 2019.
Based the latest report from Malaysian Investment Development Authority (MIDA), China has invested a total of RM19,67 billion to Malaysia in 2018, and from January to June 2019, the amount kicks off with a promising start of RM4.78 billion. With the prominent exhibitors from China especially in the Selangor International Expo 2019 and China buyers from the Malaysia International Tea & Coffee Expo 2019 (MITCE), there will be greater investment and business opportunities between China and Malaysia. SIBS 2019 will be hosting the 9th Malaysia China Entrepreneur Conference (MCEC) with the 1st Malaysia-China Young Entrepreneurs Conference (MCYEC), in conjunction with the 45th Anniversary MalaysiaChina Diplomatic Relations.
Selangor International Business Summit 2019 is a great platform for companies to connect, collaborate and create limitless opportunities across the ASEAN region. For more information, please visit our website: www.selangorsummit.com.
For media inquiries pertaining to Selangor International Business Summit 2019 and its main events, please get in touch with the following Invest Selangor Berhad representatives:
• Nur Azyyana Abu Bakar, azyyana@investselangor.my
• Nursyaliza Abdul Manaf, syaliza@investselangor.my
About Invest Selangor Berhad
Invest Selangor Berhad is the first contact point for both local and international corporations planning to invest in the state of Selangor, Malaysia. It is a one-stop government agency, who provides information and advisory services to potential and existing investors as well as rendering assistance in setting up operations in Selangor.
Selangor State successfully attracted 241 approved manufacturing projects in 2018, translating into total direct investments worth RM18.9 billion (USD4.5 billion). A total of RM8.1 billion (USD1.9 billion) of domestic direct investments (DDI) and RM10.8 billion (USD2.6 billion) was of foreign direct investments (FDI).
The food & beverage (F&B) manufacturing cluster is one of the key clusters that supports and stimulates Selangor’s economic growth. Generally, the F&B cluster revolves around the primary activity of food processing and manufacturing. The state is the home to many large companies that have been producing food products for decades, which successfully caters to both domestic and overseas markets.
Besides, a vast number of small and medium enterprises (SMEs) exports food products to regional markets as well. The growing achievements of the Selangor’s F&B cluster is driven by its favourable business environment, including strong physical infrastructure, presence of large local and foreign multinational companies (MNCs), access from low to medium skill workforce, huge domestic market demand for food as well as diverse SME products and services.
With its strategic location and sophisticated connectivity, Selangor is the most competitive Gateway to ASEAN, where local and international businesses can build and strengthen their presence in the ASEAN region.
With that in mind, Invest Selangor organises the Selangor International Business Summit to provide an avenue for businesses not only to explore the Malaysian market but more importantly, to continue to serve as a springboard to tap into the broader ASEAN market, home for over 600 million consumers and more than 200 of the world’s largest companies.
About Selangor International Business Summit (SIBS)
Organised by Invest Selangor under the patronage of the State Government of Selangor, the Selangor International Business Summit (SIBS), established since 2017, is an international event bringing together global brands and congregating industry players from the world.
Pushing initiatives to promote Selangor State as the Gateway to ASEAN and as a Global Trading Hub, SIBS is set to offer a broader range of opportunities this year with exposure with more than 850 booths visitors not only from Malaysia, but also from countries in the region. It is expected to receive more than 30,000 trade visitors during the four-day event this time around.
Designed specifically to promote and facilitate international trade between businesses, the event facilitates foreign direct investment, providing a global platform for businesses to expand into new markets. With components of exhibition and conference, this summit brings together some of the most innovative companies and brands, including knowledgeable and influential speakers on the key issues that impact international trade, especially within the ASEAN region.
Scheduled to be held from 10th to -13th October 2019 at Malaysia International Trade and Exhibition Centre (MITEC), Kuala Lumpur, Malaysia, the 4-day event will feature the following events under the summit’s umbrella as follows:
▪ Selangor International Expo 2019: 5th edition, 10-13 October 2019
▪ Selangor-ASEAN Business Conference 2019: 3rd edition, 10-11 October 2019
▪ Selangor Smart City and Digital Economy Convention: 4th Edition, 11-13 October 2019
▪ Selangor R&D and Innovation Expo: 1st Edition, 10-13 October 2019
About Selangor International Expo
Featuring international exhibitors from across the Asia Pacific, the Selangor International Expo comprises an F&B trade player showcased in an exhibition. Focusing on industry trends, it helps participants stay ahead in the global F&B market. With the special component of The Malaysia International Tea & Coffee Expo jointly organised with the Tea Trade Association of Malaysia, this exciting feature will be setting trends in the region. The 5th Selangor International Expo 2019 will see about 630 booths featuring more than 300 exhibitors from over 20 countries.
About Selangor ASEAN Business Conference
Gathering top key economic players from several countries including government delegations, the Selangor ASEAN Business Conference will host high-profile business leaders and international investors. The event will cover economy, market access and opportunities, including ASEAN region and entrepreneurship related topics. Various sessions will provide valuable update and guidance on business expansion trends and knowledge on entering new markets.
About Selangor Smart City & Digital Economy Convention
Globally-respected intellectuals, municipal councils, and leaders driving the digital growth of nations around the world will convene at Selangor Smart City & Digital Economy Convention to tackle hot topics within digital economies such as Smart Cities, Smart Technologies, IoT, Big Data, Industrial Revolution 4.0 and New Retail, to name a few. This is an opportunity to experience a plethora of fresh insights, an avenue for talent scouting, and investment and funding opportunities.
About Selangor R&D and Innovation Expo
A platform for inventors, designers, entrepreneurs and researchers to showcase latest inventions, ideas, prototypes, products and designs to investors, manufacturers and marketers in Asia and beyond, the Selangor R&D and Innovation Expo makes a debut, paving the way to encourage direct peer engagement, opening doors to more advanced deal-making, co-investments, strategic partnerships, and business networking opportunities.
Source: SELANGOR INTERNATIONAL BUSINESS SUMMIT (SIBS) 2019
