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BUSINESS

SIBS 2022 participants can tap into opportunities in ASEAN

05/07/2022 07:43 PM

SUBANG, July 5 (Bernama) -- The participants of the Selangor International Business Summit (SIBS) 2022 in the capital from Oct 6 to 9 will be able to explore and tap into opportinities in the ASEAN markets.

Selangor State Executive Councillor for Investment, Industry, Trade and Small and Medium Industries Datuk Teng Chang Khim said the summit’s components, which include the Selangor Industrial Park Expo (SPARK) and Selangor ASEAN Business Conference, will serve as a networking avenue for local and international partners. 

"SIBS 2022 has also been designed to provide a platform for potential investors to look at the supply-chain capabilities of Selangor, as well as potential locations within the state for their business expansion plans," he said in his opening speech at the launch of SIBS 2022 at the Kuala Lumpur Convention Centre here today. 

Teng said the summit, which will gather 850 local and foreign exhibitors, will also focus on sectors such as food and beverage, medical, and digital economy, while positioning Selangor as a competitive and preferred investment destination in Asia. 

"It will also offer an avenue to demonstrate our resilience, agility and determination to succeed and move forward despite all the challenges faced over the past two years," he said.

Looking at the domestic market as a potential growth area, SIBS 2022 plans to expand its domestic buyer programmes by onboarding more supermarkets to give entrepeneurs a wider coverage and market segments.  

"In last year's edition, we onboarded entrepreneurs with a total of 175 stock-keeping units with two participating supermarkets, namely LULU Hypermarket and ST Rosyam Mart.

"This year, we plan to expand it and onboard a few more supermarkets to give a wider coverage and market segments," he noted.

-- BERNAMA


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