KUALA LUMPUR, Oct 19 — Invest Selangor Bhd has officially kicked off the 7th edition of the Selangor International Business Summit (SIBS) 2023 today, targeting RM1.5 billion worth of potential negotiated sales during the four-day event.

Selangor State Exco for Investment, Trade, and Mobility Ng Sze Han said that SIBS 2023 promises to be the largest and most exciting edition of this important regional business networking and thought leadership event.

"The event has grown by leaps and bounds to become one of Malaysia’s largest international marketplaces and business networking events for local and international exhibitors, trade visitors, and conference attendees,” he said at the opening ceremony of SIBS 2023 at the Kuala Lumpur Convention Centre (KLCC), here.

Meanwhile, Selangor Menteri Besar Datuk Seri Amirudin Shari said at the event opening ceremony: "Selangor is the best place for you to put your money because we have the necessary ingredients to attain success as we truly believe that no one should be left behind.

"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.”

SIBS 2023 features six core components and five exciting events held in parallel with the main programmes.

"SIBS 2023 also sees greater participation compared to the previous years’ editions, totalling 1,006 booths altogether, with events being held in all eight expo halls and seven conference halls in KLCC,” Invest Selangor said in a statement.

The biggest event in SIBS 2023 is the the Selangor International Expo (SIE: F&B) 2023 featuring 332 booths, with international food and beverages (F&B) industry players from Malaysia, China, Indonesia, Japan, Uganda, Vietnam, Kazakhstan, South Korea, Turkiye, Kenya, and Australia.

In addition, 18 local pavilions in SIE F&B will be taken up by Selangor, Perak, Kedah, Johor, Sarawak, Melaka, and other federal ministries and agencies such as the Ministry of Agriculture and Food Security, Malaysia Cocoa Board, Penang Regional Development Authority, (Perda) MARA, Department of Fisheries Malaysia and many others.

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.

"With a total of 328 hosted trade buyers from 26 countries, in addition to trade visitors and other hosted 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 region by establishing their base in Selangor, the gateway to Asean,” it said.

For more information, please visit www.selangorsummit.com. For Selangor investment inquiries, please visit www.investselangor.my. — Bernama