Record-breaking Selangor International Business Summit (SIBS) and Selangor Aviation Show (SAS) record close to RM7 billion combined in potential transaction value

SHAH ALAM, Nov 20 (Bernama) -- Selangor continued on its rising trajectory as the Gateway To ASEAN with the resounding success of the recently-concluded Selangor Aviation Show 2023 (SAS2023) and the Selangor International Business Summit 2023 (SIBS2023).
 
These premier international events have built up a reputation for trade and investment facilitation and economic thought leadership among businesses, governments and other key stakeholders within the Association of Southeast Asian Nations (ASEAN) region. The success of these two events further boosts Selangor’s efforts to position the state as a regional trade hub in key economic segments, both current and emerging.
 
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 pharmaceuticals, and digital and smart technology products and services.
 
Selangor Aviation Show 2023
The third edition of the Selangor Aviation Show 2023 (SAS2023) took place at Skypark RAC in Bukit Jelutong, Selangor, from 7 to 9 September this year. Participation in the event reached an all-time high, recording a total of 19,217 visitors over the three-day event, far surpassing the targeted 12,000 visitors. Of this number, 55.1% were trade visitors, while 44.9% were members of the public. This marks a significant jump over the 10,563 visitors recorded for SAS2022.

A record total of 109 exhibitors from 10 countries - representing some of the world’s best companies in the aerospace and aviation industries - displayed their latest products and services during the event. There were 49 static displays, almost double of the total in SAS 2022, by 28 Malaysia-registered aircrafts, and 21 International-registered ones. There were 70 speakers from Malaysia and around the world, speaking at 34 forums and panel sessions. A total of RM 823 million in potential transaction value was successfully recorded over the 3-day event.
 
In addition, SAS also featured opportunities for the future generation of aviation industry talents, where approximately 26 aviation and aerospace companies participated and opened career booths in SAS2023.
 
28 Memorandums of Understanding (MOUs) on various aerospace industry sub-sector collaborations were signed during SAS2023, twice as many compared to SAS2022. The agreements signed cover various collaborations within the scope of the industry.
 
The success of SAS2023 in terms of public interest, business participation, and thought leadership, marks the event’s rising importance in positioning Selangor as a regional leader in the aerospace and aviation industries.
 
Selangor International Business Summit 2023
The 7th Selangor International Business Summit 2023 (SIBS2023) marked another significant milestone for the state’s progress in its position as the Gateway To ASEAN.
 
The summit, held over 4 days from 19 to 22 October, featured a record six main events as well as five parallel events. SIBS2023 also saw greater participation compared to all previous years, totalling 972 booths taken up by 612 local and international exhibitors, with events held across all 8 expo halls and 7 conference halls in KLCC.

The six main events of SIBS2023 were the 9th Selangor International Expo (F&B), the 7th Selangor ASEAN Business Conference (SABC), the 8th Selangor Smart City & Digital Economy Convention (SDEC), the 4th Selangor R&D and Innovation Expo (SRIE), the 9th Selangor International Expo (Medic), and the 3rd Selangor Industrial Park Expo (SPARK).
 
Whereas the five parallel events were the Selangor International Culinary Festival, the Selangor International Coffee Week, the Selangor International Healthcare Conference, the Malaysia International Tea & Coffee Expo, and the SIBS Invitational Golf Tournament.
 
SIBS2023 attracted a total of 57,249 visitors from 83 countries, ranging from business owners, importers, wholesalers, distributors, retailers and hypermarket purchasing departments. This number far surpassed the 44,342 visitors registered in 2022. SIBS2023 also hosted a total of 339 trade buyers from 26 countries, 11 supermarket buyers and 2 pharmacy buyers this time around.
 
SIBS2023 recorded the highest ever potential negotiated sales, with a total of RM6.12 billion. This represents an astounding leap from the RM1.45 billion in potential transaction value recorded in SIBS2022. There were 34 Memorandums of Understanding (MOUs) signed during SIBS2023, covering collaborations across various industry sub-sectors.
 
SIBS and SAS are two of the many activities organised by the state of Selangor, through its agency, Invest Selangor, to drive economic growth of the state as a whole, and to enable the development of various strategic industrial and services sectors specifically.
 
With the resounding success of SAS2023 and SIBS2023, Selangor’s importance as a regional investment and global trading hub, as well as the Gateway To ASEAN for local, regional, and international businesses to penetrate the ASEAN market is surely gaining recognition among key stakeholders around the region and the world.

Moving forward, SAS and SIBS will continue to play significant roles for local and international industry players to convene and explore the great potential of the Malaysian and regional markets.

About Invest Selangor Berhad:

Invest Selangor Berhad (ISB) is the state government agency responsible for promoting and facilitating investment in Selangor, Malaysia. With its commitment to providing investors with the ease of doing business, ISB ensures investors have a hassle-free investment journey. The agency offers a comprehensive suite of services, including site selection assistance, investment facilitation, and aftercare services. ISB is dedicated to providing investors with a conducive business environment, which includes streamlined procedures, efficient services, and access to industry insights and networks. This commitment to investor ease of mind has made Selangor an attractive investment destination for local and foreign investors. With ISB's support, investors can focus on their business operations and leave the administrative matters to the agency, giving them the peace of mind they need to grow their investments in Selangor.
 
SOURCE: Invest Selangor Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Nur Azyyana Abu Bakar
Tel: 012 2574075
Email: azyyana@investselangor.my

Name: Maryani Binti Mat Saad
Tel: 016 6997901
Email: maryani@investselangor.my

--BERNAMA