The Selangor International Business Summit (SIBS) 2023 has surpassed all expectations after recording a whopping RM2.9 billion in potential transaction value within two days, far exceeding its target of RM1.5 billion.
Selangor Menteri Besar Dato’ Seri Amirudin Shari said the numerous memoranda of understanding (MoUs) inked in the past couple of days have played a pivotal role in achieving this success.
“In just two days, the MoUs signed have catapulted our expected negotiated sales to RM2.9 billion,” Amirudin said at a press conference.
Amirudin’s statement comes less than a day after he announced that SIBS 2023 had surpassed its target of RM1.5 billion in just six hours of the event’s commencement yesterday.
He said this was achieved through a range of MoUs with companies that are either already operating in the state or new ones that have just expanded their wings in lhe state.
SDEC, which is held in conjunction with SIBS 2023, takes place from October 19 to 22 and represents one of the six core components of the annual summit.
The five others are the ninth Selangor International Expo (F&B), ninth Selangor International Expo (Medic), third Selangor Industrial Park Expo, seventh Selangor Asean Business Conference, and fourth Selangor R&D and Innovation Expo.
Prior to SIBS 2023, the Selangor government had set an ambitious goal of reaching RM1.5 billion in potential transaction value, hoping to surpass the RM1.45 billion achieved last year.
This year’s summit stands as the most expansive edition of SIBS to date, boasting over 1,000 trade booths with an expected turnout of more than 50,000 visitors.