“Better outlook for halal market due to the rising spending power of Muslim consumers (which according to SMITH ZANDER) is projected to increase from USD2.9 trillion in 2010 to USD 5.3 trillion by 2020).”
The Selangor International Expo 2016, organised for the second year, is able to create a platform for local and foreign MNCs, SMEs and entrepreneurs to showcase their products and services and a perfect avenue for marketing and collaboration.
As an international event, the Selangor International Expo is a global trading hub where both local and foreign multinational companies, SMEs and all entrepreneurs can depend on to conduct business and showcase their products and services.
While some are expecting a more challenging business environment this year, we believe that an expo of this kind will help business community to find additional opportunities and markets.
The fact that we are holding this international expo for the second year running reflects our serious undertaking to investors, both foreign and local business communities to provide additional opportunities to drive their businesses further.
This year, the Selangor International Expo 2016 is focusing on key industry sectors covering halal products and services, life sciences and e-commerce start-ups due to the following factors:
- Better outlook for halal market due to the rising spending power of Muslim consumers (which according to SMITH ZANDER) is projected to increase from USD2.9 trillion in 2010 to USD 5.3 trillion by 2020).
- The global expenditure on Halal trade is expected to grow from USD 1.7 trillion in 2012 to USD 2.67 trillion in 2018 at a Compound Annual Growth Rate (“CAGR”) of 7.8%.
- Selangor stands out for its halal Centre among multinationals with its dedicated halal hub at Pulau Indah has a conducive halal ecosystem for SMEs to produce world-class halal products for the global market.
- The hassle-free procedures for obtaining licensing for setting up of halal businesses makes the Selangor Halal Hub an ideal choice for companies intent to make serious inroads into the halal industry.
As life sciences gains momentum to being the upcoming growth engine for Malaysia, Selangor is preparing itself early for the next wave of growth.
- Invest Selangor is already paving strong channels to further strengthen this particular sector through international collaborations and partnerships.
- YAB Dato’ Menteri Besar Selangor had in last year announced a proposed Selangor Bio Bay in Pulau Indah which will take a few years to complete.
- The project, on a 1,000-acre site, will consist of a biotech centre with shared research and development (R&D) facilities, enterprise and industrial areas as well as residential and lifestyle developments.
- The potential of mobile commerce in the Malaysian market is high because Malaysia is a country with relatively high mobile phone penetration rates.
- As a comparison, the rates are Malaysia (36%), Indonesia (28%), Singapore (17%), India (17%), Korea (15%), China (9%), Taiwan (6%) and America (-15%).
The Selangor Information Technology and E-Commerce Council (SITEC), under the secretariat of Invest Selangor Berhad, has been given the mandate to develop Selangor as the regional trading hub for e-commerce, and to cultivate a startup-friendly environment to spur the growth of local startups.