Kuala Lumpur:Selangor has attracted over RM3 billion in potential investments from four foreign investors through Letters of Intent facilitated by UOB Malaysia to Invest Selangor. This development underscores the investors' keen interest in exploring business and growth opportunities in the state.

According to BERNAMA News Agency, the Selangor International Business Summit (SIBS) 2026 witnessed the presentation of several LOIs from foreign investors, including Shenghui Biotechnology (Malaysia) Sdn Bhd, Galaxy Data Centre, XTC New Energy, and Wuxi Weifu Environmental Catalysts Co. Ltd. The event was attended by notable figures such as Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj and Selangor Menteri Besar Datuk Seri Amirudin Shari.

Amirudin emphasized that Selangor is not a destination for cheap land or labor but for long-term partnerships and utilizing Malaysia's brightest minds. He highlighted the importance of regional collaboration over zero-sum competition, noting that Southeast Asia is rapidly becoming a global economic growth epicenter with ASEAN's dynamic population.

He further stated that Malaysia has traditionally been strong in packaging and testing, but Selangor is now focusing on advancing into the semiconductor value chain's most valuable segments, including front-end IC design and intellectual property creation. Initiatives like the Malaysia Semiconductor IC Design Park in Puchong demonstrate this commitment, aiming to establish Selangor as a hub for designing world-class semiconductor technology.

SIBS 2026, held at the Kuala Lumpur Convention Centre, runs from October 14 to 17, bringing together investors, industry leaders, and government representatives from across Malaysia, the ASEAN region, and beyond. The event, themed 'Selangor, the Gateway to ASEAN,' features 526 booths and aims to draw 50,000 visitors and achieve a potential transaction value of RM8 billion.