The Selangor International Business Summit (SIBS) will be held on two separate occasions next year in a bid to expand its reach, state executive councillor for trade and investment Ng Sze Han announced.
Ng explained that the decision was influenced by the need for a more targeted focus on the diverse economic sectors emphasised under the First Selangor Plan (RS1).
The summit will be held from July 25 to 27 and October 17 to 19, 2024.
“All future events organised will be strategically focused on major industries identified under the RS-1 initiative,” he said, adding that this approach is designed to ensure a targeted and effective spotlight on key sectors.
This aligns with the broader development goals and priorities set by the state government, he added.
Ng was speaking at a post-mortem press conference for SIBS 2023 and the Selangor Aviation Show (SAS) 2023 at the State Secretariat Building, here, today.
However, he stopped short of providing further details on the next SIBS and whether the existing segments under the summit will be separated.
Previously, SIBS hosted six major events, namely the ninth Selangor International Expo Food and Beverage; the eighth Selangor Smart City and Digital Economy Convention; the fourth Selangor R&D and Innovation Expo; the ninth Selangor International Expo; the seventh Selangor Asean Business Conference; and the third Selangor Industrial Park Expo.
BusinessToday a media partner for the event, saw the highly successful SIBS 2023 event recording a potential transaction value of RM6.12 billion, surpassing its target by fourfold.
In addition to the expansion of SIBS, Ng also touched on the future prospects of SAS, which is contemplating upgrading its venue to the Kuala Lumpur International Airport (KLIA) for future editions to cater to growing interest and demands from industry players.
Next year’s iteration, which is scheduled to take place from September 12 to 14, 2024 at Subang Skypark, could possibly be the last time the event is held at its current venue.
“There is growing interest in the show and I admit we cannot fit all interested parties in the Subang Skypark due to space constraints,” Ng said.
He also alluded that future SAS would be expanded beyond commercial aviation, but stressed this requires extensive planning.
SAS 2023, which took place from September 7 to 9, recorded a total sales value of RM823 million. This makes the total potential transaction value of both SIBS and SAS this year at close to RM7 billion.
“Within just a few short years, SIBS and SAS have established themselves as effective avenues for trade and networking in diverse sectors, ranging from aerospace and aviation to food and beverages, healthcare and pharmaceutical, and digital and smart technology products and services,” he said.
Ng added the attendance for the two events also surpassed expectations.
SAS 2023 drew in an impressive 19,217 attendees, significantly exceeding its target of 12,000, while SIBS 2023 saw a remarkable turnout of 57,249 visitors, surpassing the previous year’s attendance of 44,342.