Selangor continued on its rising trajectory with a 322% in potential trade value (PTV) for its regional trade event, Selangor International Business Summit 2023 (SIBS 2023).
The summit, which was held from Oct 19 to 22, recorded the highest ever potential negotiated sales, with a total of RM6.12 billion compared to the RM1.45 billion recorded last year for SIBS 2022.
State Investment, Trade and Mobility Exco Ng Sze Han said the two recent regional trade events SIBS 2023 and Selangor Aviation Show 2023 (SAS 2023) have raked in near RM7 billion PTV combined compared to only RM2.6 billion last year.
“With the resounding success (of SIBS and SAS 2023), Selangor’s importance as a regional investment and global trading hub, as well as Gateway to Asean is gaining recognition among key stakeholders around the region and the world,” he told reporters at a press conference in Shah Alam today (Nov 20).
SAS 2023 took place at Skypark RAC in Bukit Jelutong, Shah Alam from Sept 7 to 9 attracting over 19,217 visitors, an increase over 10,563 visitors last year as well as participated by 109 exhibitors from 10 countries.
Ng said although SIBS 2023 have a recorded a huge jump, SAS 2023’s investment has dipped with RM823 million in PTV compared to RM1.17 billion last year.
“This is because the the aviation industry just opening up, after it was put to a halt due to the Covid-19 pandemic (for at least two years).
“However, we see encouraging response this year. So, we believe PTV will be higher in the coming year for SAS,” he said adding 28 memorandums of understandings (MoUs) signed for the aviation show this year.
Meanwhile, Invest Selangor chief executive office Datuk Hasan Azhari Idris said 34 MoUs signed for SIBS 2023 totaling RM4.9 billion in PTV, with Food & Beverage being the sector receiving the most investment of RM597.3 million.
The remaining investments were for 3rd Selangor Industrial Park Expo for RM498.4 million and 8th Selangor Smart City and Digital Economy Convention (SDEC) for RM18 million, among others.
“In terms of the PTV, it is far higher than last year, it shows the confidence of traders and importers from other countries to source various products and services from the events,” he added.
Among the notable companies who had signed MoUs for SIBS 2023 are Tenpower Malaysia Sdn Bhd, which a wholly-owned subsidiary of Jiangsu Azure Group, Lias Group and as well as for a Centralised Labour Quarters (CLQ) project.
SIBS 2023, which featured six main events and five parallel events, also garnered greater participation compared to previous year, attracting a total of 57,249 visitors from 83 countries and participated by local and international exhibitors across all 8 expo halls and 7 conference halls in KL Convention Centre.
The six main events include 9th Selangor International Expo (F&B), 7thSelangor Asean Business Conference (SABC), 8th Selangor Smart City & Digital Economic Convention (SDEC) and 9th Selangor International Expo (Medic).
Parallel events include Selangor International Culinary Festival, International Coffee Week and Selangor International Healthcare Conference.
