Selangor Takes SIBS Regional as State Strengthens ASEAN Investment and Business Partnerships
BANDUNG: Selangor has expanded its regional economic outreach with the inaugural overseas edition of the Selangor International Business Summit (SIBS)@ASEAN, positioning the platform as a catalyst for stronger trade, investment and industrial collaboration between Malaysia and Indonesia while reinforcing the state’s role in the ASEAN economic landscape.
Launching the programme in Bandung, Selangor Menteri Besar Datuk Seri Amirudin Shari said the initiative reflects Selangor’s strategy of strengthening economic partnerships through direct engagement with regional governments, investors and businesses, particularly at the sub-national level where investment opportunities are increasingly being developed.
He said the partnership between Selangor and West Java offers considerable potential across several strategic sectors, including aerospace, rail systems, smart mobility, advanced manufacturing and small and medium enterprises (SMEs).
Amirudin explained that SIBS@ASEAN is intended to facilitate business matching and commercial networking, providing companies from both regions with opportunities to establish strategic partnerships, explore investment prospects and expand into new regional markets.
He noted that SMEs, in particular, stand to benefit from closer collaboration by leveraging business networks established through the summit to enhance market access and cross-border commercial activities.
According to Amirudin, ASEAN’s economic integration should not be viewed solely through national agreements or ministerial-level discussions, as much of the region’s investment and trade growth is driven by cooperation between states, provinces and cities.
He said strengthening these regional linkages would create more practical economic outcomes while complementing broader government-to-government initiatives aimed at promoting regional prosperity.
As part of this strategy, Invest Selangor will continue assessing opportunities to organise future editions of SIBS@ASEAN in other ASEAN countries, further expanding the state’s international investment engagement.
West Java Deputy Governor Erwan Setiawan said the collaboration provides an avenue for the province to deepen economic cooperation with Selangor while gaining valuable insights into Malaysia’s internationally recognised Islamic finance ecosystem.
He expressed hope that knowledge sharing between both sides would contribute to the continued development of Islamic finance in West Java and strengthen the province’s competitiveness in the sector.
Erwan also highlighted the strong economic relationship already established between Malaysia and West Java, revealing that Malaysian investments in the province have reached 47 trillion rupiah over the past five years.
In addition, Malaysian travellers account for approximately 12.5 per cent of international tourist arrivals in West Java, illustrating the close commercial and social ties shared between both regions.
Held outside Malaysia for the first time since its introduction a decade ago, SIBS@ASEAN represents a significant milestone in Selangor’s efforts to transform the business summit into a regional platform that supports investment promotion, business networking and economic cooperation throughout ASEAN.
During the official visit, the Selangor delegation also met Indonesian Deputy Minister of Trade Dyah Roro Esti Widya Putri, Deputy Minister of Industry Faisol Riza and representatives of Danantara Indonesia to discuss expanding bilateral cooperation.
The discussions focused on strengthening trade and investment ties while exploring collaboration in strategic sectors such as electrical and electronics, semiconductor manufacturing and other high-value industrial activities.
Through SIBS@ASEAN, Selangor aims to strengthen its position as a preferred investment destination in Southeast Asia by fostering stronger regional partnerships, facilitating business expansion and creating new opportunities for sustainable economic growth across the ASEAN region.
