SINGAPORE: The Selangor International Business Summit 2023 (SIBS 2023), initiated by the Selangor state government and organised by Invest Selangor Bhd, will be back and bigger for the seventh edition
This year, SIBS 2023 will continue its role as the regional premier summit for local and international industry players to convene and explore the great potential of the Malaysian and regional markets.
Themed ‘Selangor, Gateway to Asean’, SIBS 2023 targets RM1.5 billion of potential negotiated sales, with the participation of a total of 1,050 booths and at least 50,000 trade visitors.
This four-day summit, to be held from October 19, will be taking up the entire eight expo halls and two conference halls at the Kuala Lumpur Convention Centre and will feature a total of six unique concurrent component events, bringing into the limelight the broad range of business and investment opportunities available.
During his visit to Singapore recently, Invest Selangor chief executive officer (CEO) Datuk Hasan Azhari Idris shared with BERNAMA one of SIBS’ component events, the Seventh Selangor Asean Business Conference (SABC).
SABC’s theme is ‘Selangor epicentre of Asean: Leveraging diversity, catalysing opportunity, creating prosperity’. Why was this theme chosen?
Hasan Azhari said the theme for this edition is inspired by Indonesia’s Asean Chair emphasis on Asean as the ‘Epicentrum of Growth.’
“That’s why we go along with that.
“Selangor lies in the heart of Asean. To understand Selangor is to understand Asean because of its diversity, vibrant entrepreneurship ecosystem, and strong economic potential.
“We are positioning ourselves, Selangor, as the gateway to Asean. This is the opportunity for entrepreneurs, businesses, and investors to make Selangor the hub in the Asian region,” he explained.
However, Hasan Azhari said this year’s SABC will not only promote Selangor state as the investment destination but also the neighbouring states and countries.
“We are working together to promote Asean as the investment destination,” he added.
What sets SABC 2023 apart from the previous SABC events?
The 7th SABC 2023 will emphasise Asean as the ideal investment destination.
Invest Selangor sees Asean as the next engine of growth, it being the world’s fifth largest economy with more than 660 million population base and the potential is huge.
“SABC this year is unique as we will be engaging more speakers from Asean countries.
“In addition, our speakers mix this year is more diverse by involving more government leaders, corporate captains, and chambers of commerce representatives,” said Hasan Azhari.
What will be the programme highlights?
SABC will have a Special Dialogue on ‘Asean Matters: Leveraging Diversity, Catalysing Opportunity, Creating Prosperity’ in which chairman, Asean Business Advisory Council (Asean-BAC) Malaysia, Tan Sri Nazir Razak, will be one of the speakers.
Invest Selangor will arrange a visit to another SIBS component event, SPARK 2023, which will exhibit industrial park developers and the ecosystem of Southeast Asian countries.
The Malaysian Minister of Economy Rafizi Ramli is expected to deliver a Special Address during the networking cocktail for SABC delegation in SPARK 2023.
What are the specific economic issues that will be addressed in the 7th SABC?
Four specific economic issues have been established at this year’s SABC.
They are ‘Asean Matters: Paving the Way Forward’, ‘Unleashing the Digital Potential of Asean: Opportunities for Investment’, ‘Overview of the Investment Landscape in Asean – Outlook and Challenges”, and ‘Capitalising on Synergies: Maximising Malaysia-Asean Investment Potential’.
Hasan Azhari said participants will be able to explore diverse industries and investment trends to drive growth, attract investments, and foster entrepreneurship in Asean.
“A lot of discussions will be held on investment opportunities in e-commerce, financial technology, and digital infrastructure, leveraging emerging technologies like artificial intelligence and blockchain.
“Besides Malaysia, we are also giving the opportunities to various investment agencies from other countries such as Indonesia, Thailand, Vietnam, and the Philippines to present the advantages in their respective countries,” he said.
Malaysia will see the participation from Iskandar Regional Development Authority, Invest Penang, Invest Sabah, and Invest Pahang.
How will the 7th SABC promote regional collaboration and position Selangor as a vibrant business destination within Asean?
SABC will be able to provide a platform for regional economic players, industry leaders, and stakeholders to discuss, collaborate, exchange ideas, and explore opportunities for regional partnerships, fostering closer ties and promoting collaboration within Asean.
It will also be able to showcase Selangor’s business potential by highlighting the state’s strategic location, robust infrastructure, and diverse talent pool.
“Most of them may not really understand or are not aware that Selangor is the economic powerhouse in Malaysia and is the highest contributor to the national gross domestic product. So the opportunities in Selangor are huge.
“We are not promoting Selangor or Malaysia as a single market. We are leveraging the Asean market by using Malaysia, in particular, Selangor, as the hub for them,” said Hasan Azhari.
The CEO added that SABC will be a platform to discuss the importance of regional economic integration and Selangor’s role in driving Asean’s economic growth.
There are ways that can be explored to leverage the integration to maximise the potential of Selangor as a gateway to Asean, attract investments, foster innovation, and promote sustainable economic development, he said.
Who’s who at the opening ceremony of the 7th SABC?
The Sultan of Selangor Sultan Sharafuddin Idris Shah is expected to grace the opening of SABC. Invest Selangor is targeting around 300 participants not only from Malaysia but beyond Asean as well.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz is expected to deliver a keynote address, followed by a special address by Indonesian Minister of State-Owned Enterprises Erick Thohir. – BERNAMA
