Shah alam: The Selangor government is currently evaluating the costs and mechanisms involved in organizing the Selangor International Business Summit (SIBS) outside Malaysia, as disclosed in the State Legislative Assembly today. Menteri Besar Datuk Seri Amirudin Shari highlighted that this exploration is part of the state's broader strategy to enhance trade networks on an international scale.

According to BERNAMA News Agency, the initiative aims to increase trade value between Selangor, Malaysia, and the ASEAN region. Amirudin emphasized Selangor's readiness to act as a gateway between Malaysia and ASEAN, with the current focus on refining the strategy in terms of cost and implementation. The goal includes not only intensifying investor engagements in the partner countries but also organizing SIBS events across ASEAN member states to showcase Selangor's products.

Amirudin identified potential host countries such as Thailand, Singapore, Indonesia, the Philippines, and Timor Leste, pointing out that these markets remain largely untapped. SIBS, organized by the state government through Invest Selangor, comprises six main components: the Selangor Investment and Industrial Park Expo (SPARK), the Selangor ASEAN Business Conference (SABC), the Selangor International Food and Beverage Expo (SIE F and B), the Selangor Smart City and Digital Economy Convention (SDEC), the Selangor Aerospace Summit (SAS), and the Selangor International Care Summit (SICS).

Previously, on November 4, Amirudin mentioned plans to bolster SIBS further, including potential expansions to international locations to support Selangor's vision of becoming a leading investment hub. The 2024 edition of SIBS reported a potential transaction value of RM13.86 billion from its two-event series, whereas this year's summit recorded RM8.17 billion.