SIBS 2024 at Kuala Lumpur to Attract Global Investors

The Selangor International Business Summit 2024 (SIBS 2024), the premier business event in Southeast Asia, is poised to be a milestone occasion this year. Hosted at the Kuala Lumpur Convention Centre, SIBS 2024 will unfold in two dynamic series: the first from July 25 to 27 and the second from October 16 to 19. This year’s summit is anticipated to be the most impactful edition yet, featuring a diverse range of conferences, expos, and networking opportunities that are set to attract global trade and investment.

Organized by Invest Selangor Bhd, SIBS 2024 will feature five main events: the Selangor ASEAN Business Conference (SABC), Selangor Investment and Industrial Park Expo (SPARK), Selangor International Expo (F&B), Selangor Life Sciences Conference (SLC), and the Selangor Smart City and Digital Economy Convention (SDEC). These events are expected to draw more than 60,000 attendees from 80 countries, potentially enabling transactions valued at RM7 billion.

Unpacking SIBS 2024

Selangor State Executive Councillor for Investment, Trade, and Mobility, Ng Sze Han, emphasized the event’s significance, noting that SIBS 2024 is set to be the biggest edition yet. “This year, we have structured SIBS into two series to focus more on investment themes and sector-specific promotions. The first series will address investment challenges and opportunities within Southeast Asia (SEA), featuring esteemed speakers and key events,” he said during the launch.

The first series, focusing on the investment sector, will feature SPARK and SABC. SPARK aims to showcase Selangor’s capabilities as an investment destination and provide a one-stop event for potential investment locations in Malaysia and SEA.

Focused Industry Events

The second series will concentrate on specific industry sectors, with events such as the Selangor International Expo (F&B), SLC, and SDEC. The Selangor International Expo (F&B) will feature local and international exhibitors, with key forums and discussions on food security. The Selangor Life Sciences Conference (SLC) will include industry forums such as the Selangor Life Sciences Synergy, the Medical Device Authority Industry Updates, and the Selangor Korea Sustainable Futures Seminar. Meanwhile, the Selangor Smart City and Digital Economy Convention (SDEC) will showcase exhibitors under the theme of exploring artificial intelligence (AI) innovation in mobility, healthcare, and education.

Significant Economic Impact

Ng Sze Han highlighted the economic impact of SIBS, noting last year’s success with RM6.12 billion worth of negotiated sales. This year, with the anticipated increase in visitors and exhibitors, SIBS 2024 is expected to surpass RM7 billion in transactions. “Looking towards future economic growth, especially in Selangor, we are confident we can achieve this target,” he stated.

Debut of SELHAC

A notable addition to SIBS 2024 is the debut of the Selangor International Halal Convention (SELHAC). Organized by HIS Toyyiba Sdn Bhd, SELHAC 2024 focuses on advancing the halal sector through innovation, certification, and logistics efficiency. This year’s theme, “Vitalising Halal Ecosystems,” highlights key areas such as accelerating halal certification for SMEs, optimizing halal supply chain logistics, and embracing digital innovation within the halal industry.

Selangor State Executive Councillor for Islamic Affairs and Innovation, Dr. Mohammad Fahmi Ngah, emphasized SELHAC’s role in promoting the halal industry. “We are focusing on innovations that can accelerate halal certification processes and enhance traceability in halal logistics. This is crucial for maintaining trust and ensuring that halal goods are handled appropriately,” he explained.

Advancing the Halal Industry

SELHAC 2024 will emphasize digital innovation within the halal industry, developing advanced systems for halal assurance and promoting innovations in Islamic finance. Participants will benefit from seminars addressing current trends, challenges, and innovations in the halal sector, alongside business matching sessions to connect local and international players.

A Global Gathering

Since its inception in 2015, SIBS has attracted participation from various government agencies, industry players, and trade visitors worldwide, including from China, Singapore, Indonesia, Japan, and many other countries. With its expanded format and focus on key industry sectors, SIBS 2024 aims to solidify Selangor’s position as a premier business hub in the region.

SIBS 2024 is poised to be a transformative event for global trade and investment, showcasing the vibrant economic landscape of Selangor. With an extensive lineup of events and a focus on high-impact industries like halal, life sciences, and digital innovation, the summit promises unparalleled networking opportunities and significant economic benefits. As Selangor strengthens its position as a strategic business hub, SIBS 2024 underscores its dedication to promoting international trade and investment. Don’t miss this landmark occasion that highlights Selangor’s role in the global economy.