Assalamualaikum Warah Matullahi Wabarakatuh, Salam Sejahtera And Very Good Morning.
Yang Berhormat Dato’ Mohd Amin bin Ahmad Ahya
Selangor State Secretary
Yang Berhormat, Dato’ Nor Azmie Bin Diron
Selangor State Financial Officer
Yang Berhormat Dato’ Teng Chang Khim
Selangor State Executive Councillor (EXCO) for Investment, Industry and Commerce and SMEs;
Yang Berhormat, Selangor State Executive Councillors
Yang Berbahagia, Dato’ Hasan Azhari Bin Hj. Idris
Chief Executive Officer, Invest Selangor Berhad
Yang Mulia Raja Shahreen Bin Raja Othman
Chief Executive Officer, MBI Selangor
Representatives of foreign Embassies and High Commissions
Tan Sri-Tan Sri, Dato’-Dato’, distinguished guests, ladies and gentlemen
Ladies and Gentlemen,
Good morning and a very warm welcome.
I would like to extend my heartfelt appreciation to Y.B Dato’ Teng Chang Khim and Invest Selangor for their continuous effort in organising the Selangor International Business Summit series. Selangor International Business Summit or SIBS in short, is having its third year this year. Invest Selangor as the organiser of the summit is working hard to ensure the Summit continues to provide the perfect avenue for businesses to meet, network and collaborate with their counterparts in the region, for their mutual benefits. It also brings me great pleasure to see Menteri Besar Incorporated is once again playing an active role in co-organising the Summit this year.
Selangor International Business Summit continues to be a testimony of the state’s commitment in creating a conducive eco-system and platform for business engagement and collaboration. SIBS also provide the avenue for the state to showcase its capabilities as the preferred investment destination and regional trading hub.
Home to the 12th busiest global container port and 2 international airports, a major innovation and manufacturing hub with excellent ICT ecosystem and communication infrastructure, Selangor is indeed a prime investment location in Malaysia and provide an excellent value proposition for the manufacturers and businesses, as an ideal gateway into ASEAN markets.
Apart from the infrastructure and connectivity advantages of the state, Selangor also boasts itself having the ability to attract the right and diversified workforce that are skilled, talented and multilingual. Selangor is home to a labour force of 3.4 million employed in various fields, the largest workforce in Malaysia. These skilled workers are the foundation of Selangor economic growth, with the adaptive flexibility to manage technological and economic changes.
As a result, Selangor continues to raise the bar as the largest economic driver in Malaysia, with 23% contribution to Malaysia’s GDP in 2017. In terms of investment, we recorded our best performance in history with a RM18.9 billion, with 241 approved projects in 2018. In 2019, we are targeting to receive a total investment valued at RM10 billion, a conservative forecast due to various global economic uncertainties.
According to MIDA, for the first three months of 2019, Selangor has already secured an inflow of investment valued at RM1.5 billion. These investments generated from 75 approved manufacturing projects, which contributed the highest from a single state in Malaysia, (at 35%), in the same period. With aggressive and comprehensive economic development initiatives introduced when the State Budget was tabled earlier and undertaken during the first six months of this year, we are confident, despite the various global economic scenarios, that Selangor will be able to achieve its target of total investment in 2019.
Selangor Economic Clusters were introduced to address part of these concerns. The distribution of economic growth and activities via regional comparative advantages within the state will allow us to focus on preparing the required infrastructure and eco-system more efficiently, based upon the vast potential of each cluster and its designated region.
Ladies and Gentlemen,
By organising Selangor International Business Summit, Selangor will continue to chart itself to be the gateway to ASEAN region as part of the state’s globalisation and trade initiatives. The summit, with a theme of “Your Gateway to ASEAN” will run in October 2019 and will be organised at MITEC, Kuala Lumpur. As mentioned earlier by Y.B Dato’ Teng, SIBS 2018 attracted over 23,000 visitors from the region, with RM194.6 million in negotiated business transaction value generated from the event. With more events and side programs planned this year, we hope to attract higher scales in numbers in terms of regional visitors and business negotiations during SIBS 2019.
SIBS2019 is also positioned as an event with the gathering of economic experts, government delegations and high-profile business leaders from the region, especially at the Selangor ASEAN Business Conference. We look forward to hear from our Honourable Prime Minister, Yang Amat Berhormat Tun Dr Mahathir Mohamad, who has confirmed his attendance as the keynote speaker at the conference. I was also made to understand that several key Ministers and industry leaders have also agreed to speak during the conference with topics focusing generally on ASEAN economic integration and cooperation.
Another key highlight of the summit this October, would be the introduction of Selangor R&D and Innovation Expo as Selangor is giving further emphasis on creating value through collaboration and advancement in product research and innovation. This latest addition in SIBS series is planned to be the platform to gather and match the academia and research centres within the Selangor Education Cluster, with the relevant industries not only in Selangor but also in the region.
Ladies and Gentlemen,
It is my hope that Selangor International Business Summit will help strengthen Malaysia’s profile internationally as the strategic partner for businesses to enter the ASEAN market, and Selangor specifically as a solid proposition to be the hub in the region, where businesses are able to gather, engage and network in one place, that is Selangor, The Gateway to ASEAN.
In view of that, the state government will line up a few new initiatives in 2020 to validate the proposition and strengthen our position, which we hope, would be able to announce during the State Budget 2020 presentation.
Before I end my speech, I would like to once again congratulate Y.B Dato’ Teng Chang Khim and Invest Selangor for their continuous efforts in driving trade and investment promotion into Selangor, including the organisation of this Selangor International Business Summit series.
Subsequently, I would like to extend my gratitude to the sponsors, supporting partners from local and foreign business chambers, trade associations and embassies that are working closely together towards the event in October.
I would like to also invite every entrepreneur not only from Selangor but also from the region to come and attend the summit as it will be a great opportunity for them to connect and expand their networking with target markets. Use Selangor as your base and expand your market regionally.
With that and lafaz Bismillahirahmanirahim, it is my pleasure to officiate the launch of the Selangor International Business Summit 2019.
YAB Tuan Amirudin Shari
Chief Minister of Selangor