By Danial Dzulkifly
KUALA LUMPUR, Oct 19—The second series of the 2024 Selangor International Business Summit (SIBS) 2024 has exceeded its targeted transaction value, recording RM1.2 billion in the first two days of the four-day trade event.
State executive councillor for investment, trade, and mobility Ng Sze Han said while the overall figure is still being tallied, the business summit has reached its target, with many attendees giving promising feedback that its focused execution has led to many positive business leads.
“We recorded RM1.2 billion figures in the first two days, which exceeded expectations. So far, we have received a lot of positive feedback from attendees and exhibitors, but we will do a post-mortem for a clearer picture of the pros and cons of this year’s SIBS,” he said to the press on the sideline of the closing ceremony of the Selangor Accelerator Programme 2024 programme at the Kuala Lumpur Convention Centre here today.
Ng said the state administration will conduct a post-mortem on both iterations of this year’s SIBS and decide whether to proceed with dividing the coming edition in two as well.
[caption id="attachment_376692" align="aligncenter" width="1200"]
Attendees seen during the Second Series of the Selangor International Business Summit 2024, held at the Kuala Lumpur Convention Centre, on October 17, 2024. — Picture by HAFIZ OTHMAN/MEDIA SELANGOR[/caption]
Previously, Ng said the state target anticipated a transaction value of nearly RM1 billion.
He said the projected value includes RM600 million from the Selangor International Expo (Food and Beverage), RM15 million from the Selangor Life Sciences Convention, and RM200 million from the Selangor Smart City and Digital Economy Convention.
This year marks the first time the state government, through Invest Selangor Bhd, organised the trade summit in two separate series.
The first series took place from July 25 to 27, while the second started on October 16 and ended today.
The first series featured the Selangor Investment and Industrial Park Expo and the Selangor Asean Business Conference.
Previously, Invest Selangor revealed that the July event recorded RM12.2 billion in deals, nearly double the RM7 billion overall target set for both legs of SIBS 2024.
Held at the Kuala Lumpur Convention Centre, the first series saw the signing of 23 letters of acceptance, letters of intent, memoranda of agreement, and memoranda of understanding.
It also attracted 8,500 visitors and included participants from Asean countries, Australia, Canada, China, France, Germany, Japan, and the United Kingdom.
