PETALING JAYA: The Selangor International Business Summit (SIBS) 2024 is expected to draw more than 60,000 attendees from 80 countries, potentially enabling transactions valued at RM7 billion.
It is an improvement from SIBS 2023, which aimed to attract 50,000 trade visitors and achieved a potential transaction value of RM6.12 billion.
Selangor's investment, trade and mobility exco Ng Sze Han said the anticipated RM7 billion in transactions will be fuelled by the number of visitors and exhibitors.
"With a higher number of visitors and exhibitors, the potential transaction value, we believe that it will be increased as well. Looking for future economic growth, especially Selangor, we are confident we can achieve this target," he told reporters at the launch of SIBS 2023.
Ng acknowledged that reaching the target is challenging and will require considerable effort, but he believes it is attainable.
Ng also said that the potential transaction value of RM7 billion is expected to generate a higher impact and higher salary job creations for the young generations of Selangor.
"This is the state government's vision from this series of programs which can create more jobs and attract more high impact investment into Selangor. The transaction value also shows the potential economic growth in the next two years," he added.
SIBS 2024 is scheduled to be held at the Kuala Lumpur Convention Centre, divided into two series.
Series One will run from July 25 to July 27, while Series Two will take place from Oct 16 to Oct 19.
Series One will emphasise investment themes with events like the Selangor Asean Business Conference and the Selangor Investment and Industrial Park Expo.
Series Two will focus on specific sectors, featuring events such as the Selangor International Expo (Food & Beverages), the Selangor Life Sciences Convention (SLC), and the Selangor Smart City and Digital Economy Convention.
Ng urged the business community to engage deeply in SIBS 2024, emphasising its role in fostering growth within Malaysia and across Asean.