SIBS 2021 TO GENERATE RM350MIL IN POTENTIAL NEGOTIATED SALES

by Kevin Chong
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From left: Invest Selangor corporate communications and SIBS division director Ahmad Khairo Othman, Invest Selangor CEO Datuk Hasan Azhari Hj Idris, Selangor state executive councillor for investment, industry, trade & SME and Invest Selangor director Datuk Teng Chang Khim, Selangor Information Technology & Digital Economy Corporation COO Loo Chuan Boon and Selangor state secretary office human resource management division under secretary Siti Azrah Mohd Ibrahim at the SIBS 2022 press conference.

The largest business summit hosted by the Selangor State Government, the Selangor International Business Summit (SIBS) is back for its sixth edition, taking place from 6-9 October 2022. 

SIBS 2021 recorded RM217.6 million of potential negotiated sales, nearly reaching the sales record in the previous SIBS 2019 (of RM247 million). SIBS 2021 has also surpassed the initial set target of 10,000 visitors with a turnout of 25,410 visitors, ranging from business owners, importers, wholesalers, and distributors to retailers and members of the public.

It was announced that the SIBS 2022 would feature several  main events including: 

  1. The 8th Selangor International Expo (F&B)
  2. The 8th Selangor International Expo (Medic)
  3. The 2nd Selangor Industrial Park Expo
  4. The 6th Selangor ASEAN Business Conference
  5. The 7th Selangor Smart City & Digital Economy Convention
  6. The 3rd Selangor R&D and Innovation Exp

The SIBS is a platform for ASEAN and International businesses to explore the massive potential in Malaysia and also serves 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.

Selangor state executive councilor for industry and trade, Datuk Teng Chang Khim said SIBS can be the key global trading hub initiative by Selangor to assist not only exporters and manufacturers from Selangor but also from other states and regional players to restart their business in the region.

“SIBS 2022 will continue its momentum with an estimated 850 booths, and taking up the entire complex of Kuala Lumpur Convention Centre for the 4 days event. We target to achieve RM350millions of potential negotiated sales with at least 30,000 visitors turning out in this year’s edition.

“Looking at our previous experience, this rate of growth gives us satisfaction and in view of the opening of national boundaries we expect more international traders and exhibitors to take part.” Dato’ Teng Chang Khim added.

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