The Star: SIBS 2023: Gateway to Asean
SELANGOR International Business Summit (SIBS) reinforces its support for making Selangor the gateway to Asean – paving the way for a brighter future as one of Asia’s premier destinations.
Selangor Mentri Besar Datuk Seri Amirudin Shari said that his administration is committed to achieving this goal for the state and is optimistic that SIBS 2023 will be able to reach RM1.5bil in potential negotiated sales.
“I am confident that we will achieve our target, based on the calculations from those agreements signed (where documents were exchanged between various parties during the sidelines of SIBS).
“The agreements themselves amounted to over RM1.2bil,” he told reporters after the recent opening ceremony of SIBS 2023 held at the Kuala Lumpur Convention Centre.
Among others, there was a memorandum of understanding (MoU) signed between Menteri Besar Selangor Incorporated (MBI Selangor) and Gentari Sdn Bhd for the advancement of clean energy solutions in Selangor, as well as a memorandum of agreement (MoA) between MBI Selangor and Alpha Ocean Resources Bhd for long-term rural development and the fishery industry in Sabak Bernam.
There was a MoA between MBI Selangor and the Consortium of Sekinchan Development Holdings Sdn Bhd, Sekinchan Fishing Industry Association, and Sekinchan Fishermen’s Association for the enhancement of fisheries infrastructure in Sabak Bernam also.
Besides that, Tenpower Malaysia Sdn Bhd and Lion Group reached a sales and purchase agreement involving 19.4ha of industrial land in Selangor.
Urbancubes Sdn Bhd, a leading industrial park manager, signed a two-year agreement with Wistron Technology (Malaysia) Sdn Bhd for the transformation of temporary labour quarters in Pulau Indah, Klang. This initiative aligns with the state’s mission to provide secure and comfortable accommodation for foreign workers.
‘No other state has the capacity to grow and take proactive steps to provide investors the peace of mind, that we will be committed to sustainable growth to ensure your investment is safe,’ said Datuk Seri Amirudin Shari.
Universiti Selangor (Unisel) and Universiti Putra Malaysia (UPM) have formally delivered the letter of confirmation (LoC) to Invest Selangor Bhd for the Selangor Lab Partnership Programme, which stands as a pivotal initiative designed to serve as a bridge – connecting academic institutions and research institutes with the industry players within the thriving life sciences sector.
The Selangor State Development Corporation (PKNS), Inter Great (M) Sdn Bhd, and PKNS FM Integrated Sdn Bhd have signed an MoU, with the agreement setting the groundwork for future collaborative efforts in the development of the Transitory Labor Quarters (TLQ) project at Bandar Sultan Suleiman in Port Klang.
Global event
Amirudin said that SIBS is considered a “global event” with significant demand and plans for further development.
“Our plan for the Selangor Business Capital is to host a larger convention, providing ample space for the global event in Sepang.”
In his keynote speech, Amirudin emphasised his belief that SIBS could serve as a platform where “relationships can begin, and deeper partnerships develop”.
According to Amirudin, SIBS 2023, which started from humble beginnings in 2015 with just 4,300 visitors and 400 booths generating around RM182mil in transactions, now offers over 1,006 booths to accommodate an anticipated 50,000 visitors.
“I am confident this summit will be an opportunity to discover new areas, whether in innovation or technology, because your investment will be instrumental to allow our young people to have brighter futures.”
The seventh edition of SIBS will be held for four days at KLCC from Oct 19 to 22 and promises to be a significant regional business networking and thought leadership event.
The six main programmes are:
> Selangor International Expo (F&B)
> Selangor Asean Business Conference (SABC)
> Selangor Smart City and Digital Economy Convention (SDEC)
> Selangor R&D and Innovation Expo (SRIE)
> Selangor International Expo (Medic),
> Selangor Industrial Park Expo (SPARK).
Additionally, SIBS 2023 will feature five exciting events running in parallel with the main programmes:
> Selangor International Culinary Festival
> Selangor International Coffee Week
> Selangor International Healthcare Conference
> Malaysia International Tea and Coffee Expo
> Selangor International Business Summit Invitational Golf Tournament.
With a total of 328 hosted trade buyers from 26 countries, in addition to trade visitors and other delegations, SIBS 2023 aims to further strengthen its international reputation as the premier regional event for businesses seeking to build and expand their presence in the Asean region by establishing their base in Selangor.
Investing in Selangor
Amirudin highlighted that Selangor is the ideal place for investments, stating that the state possesses the essential ingredients for success.
“No other state contributes 25.5% of the national economy, offering a better mix of industries from manufacturing either in the automotive, electrical and electronics, or logistics and pharmaceuticals.
“No other state has the capacity to grow and take proactive steps to provide investors the peace of mind, that we will be committed to sustainable growth to ensure your investment is safe.”
Amirudin emphasised the state’s commitment to attracting high-quality investments aligned with the identified industries – whether in public transportation, climate change solutions, advanced manufacturing with a focus on automation – and the exploration of new frontiers in biotechnology and pharmaceuticals, in preparation for future endemic or pandemic challenges.
“We cannot take things for granted or become complacent hoping that our past successes can guarantee success in the future,” he pointed out.
Amirudin stressed the importance of meeting the increasing demand for a growing economy, providing higher-paying jobs in cutting-edge technology for Selangorians.
He highlighted the need to enhance government operations through digitalisation, ensuring that government services remain people-centric and business-friendly.
Selangor State Executive Councillor for Investment, Trade and Mobility Ng Sze Han, in his keynote address, said: “There are boundless opportunities for mutual growth and shared success within Selangor and Asean.
“Together, we can chart a prosperous future, where innovation, collaboration, and determination pave the way for a brighter tomorrow.”
In the afternoon session, Amirudin officiated the SABC with the theme Selangor, Epicentre of Asean: Leveraging Diversity, Catalysing Opportunity, Creating Prosperity.
“Our future challenge lies in building a dignified economy with higher salaries, not lower salaries. To pay our workers higher, we must develop new technology and not be left behind in the race of artificial intelligence.”
Amirudin explained that despite impressive trade and FDI statistics of US$3.8tril and US$224.2bil respectively, “we in Asean are not trading with each other in the region. Our biggest trading and investment partners are outside of Asean.
“While Asean plays a pivotal role in the chips supply chain, I believe we can tap into the vast knowledge to develop our own tech companies by using 5G and exploring the fields of digital education, healthcare predictive analysis, renewable energy, fintech-as-a-service, and more efficient logistics.
“That is why Selangor is committed to hosting SABC. It is not limited to building connections. We see great opportunity to discuss ideas and develop strategies in these areas.
“The SABC, as a pivotal component of the SIBS, offers a unique platform to explore, engage, and forge meaningful connections. Let us leverage this platform, not just for our individual gains but for the collective prosperity of Asean.”
In his welcome speech at SABC, Ng emphasised Selangor’s economic prowess, highlighting over 17 expanding industrial areas, from UMW High Value Manufacturing Park in Serendah to Serenia City Industrial Park in Sepang, “solidifying the state as an economic powerhouse,” he said.
Ng envisioned Selangor as a “super cluster” encompassing seven vital core clusters for dynamic economic growth:
> Life sciences
> Food and beverage manufacturing
> Electrical and electronics,
> Transport equipment
> Machinery and equipment
> Digital investment
> Logistical services.
He added that the Malaysia Investment Development Authority (MIDA) reported that Selangor achieved a remarkable milestone, securing the highest investment value of RM14.8bil across 114 diverse projects in the manufacturing sector during the first half of 2023 in Malaysia.
For more information, visit www.selangorsummit.com
