The one-stop investment agency is aggressively seeking investments through trade visits around the world. In the first six months of the year, it has already gone to Taiwan, India, Belgium, Germany, Paris and several Asean countries to promote Selangor as an investment destination.
In 2016, despite a 22% decline in investments in Malaysia’s manufacturing sector, Selangor outperformed its RM6 billion target, achieving investments of RM7.88 billion in that sector.
But Invest Selangor isn’t stopping at trade visits and trade fairs, or relying on Selangor’s highly developed infrastructure and business-friendly policies to attract investments.
In an interview with FMT, Selangor executive councillor Teng Chang Khim said this September, Invest Selangor would be organising the Selangor International Business Summit 2017 (SIBS 2017) to lure more investors, including those in the Asean region.
The massive 10-day summit – which will run from Sept 7 to 17 – is touted as the biggest business event to be held in Malaysia. It is expected to draw chiefs of industries, experts, businesses, entrepreneurs and policymakers to convene in Selangor.
“Through SIBS 2017, we want to position Selangor as a reliable global business hub, suitable for everyone from small local companies to huge multinational corporations.
“We want them to see for themselves that Selangor is highly suited for manufacturing and showcasing their products and services,” Teng said, adding that the summit would help connect members of the business community to find new opportunities and markets in these challenging times.
He said SIBS 2017 had three main components: Selangor Smart City & Future Commerce Convention 2017, Selangor-Asean Business Conference and Selangor International Expo 2017.
The Selangor Smart City & Future Commerce Convention 2017, which will be held from Sept 7 to 9, will see international experts in the development of “smart cities” from Asia Pacific, the Middle East and Europe sharing their valuable insights and experience.
It is being co-organised with Antoni Vives, the former deputy mayor of Barcelona, the first city in Spain to become a “smart city”, ahead of even Paris and London.
Teng said Vives, who is now CEO of Barcelona’s City Transformation Agency, brings with him a wealth of knowledge and experience in the development of smart cities, which will aid in Selangor’s ambition to become a smart state.
“A smart city is an urban development which leverages on information and communication technology (ICT) and the internet of things (IoT) to better manage a city. We want to turn Selangor into a smart state by 2025 and last year, we launched a blueprint to that end,” said Teng, who is the state exco in charge of investment, industry & commerce, SME & transportation.”
The second part of SIBS 2017 is the two-day Selangor-Asean Business Conference which will run from Sept 11 to 12.
“The conference will feature international speakers and cover the five core industry clusters that have been identified to steer Selangor’s growth namely, electrical and electronics, machinery and equipment, transport equipment, food and beverage and life sciences — with focus given to industries such as aerospace, food and beverage, life sciences and biotechnology.
“We’ll also be showcasing Selangor’s Halal Hub and Bio Bay in Pulau Indah through a one-day industrial site visit,” said Teng.
Teng, who is Sungai Pinang assemblyman, said the final part of SIBS 2017 was the third edition of the Selangor International Expo 2017 (SIE), which will be held from Sept 14 to 17.
“SIE has been successful in positioning Selangor as a global trading hub, creating platforms for local and foreign MNCs, SMEs and entrepreneurs to showcase their products and services.
“It has become a perfect avenue for marketing, collaborations and partnerships and providing exposure and information on the latest technologies.”
Teng added that last year’s SIE drew 373 companies from 15 regions and 10,689 visitors, besides recording some RM100 million in transactions.
This year, he said, SIE 2017 would feature two synergetic sectors, life sciences and food and beverage, as well as halal market segments, all of which are the fastest growing manufacturing sectors in the state.
“To date, we’ve sold more than 70% of our 500 booths. You’ll see big companies at the SIE 2017 like Nestle and Pharmaniaga, as well as big names from Asean, Japan, China, Taiwan and Spain.”
SIBS 2017 will be held at the Setia City Convention Centre (SCCC) in Shah Alam and is expected to draw members of the business community from Asean, China, the Middle East and Europe.