Its chief executive officer, Datuk Hasan Azhari Idris said the hub would provide a virtual networking platform for businesses in the state and curb the economic contraction attributable to the COVID-19 pandemic.
"The Selangor Business Hub is expected to provide another channel of communication for businesses to engage and network with stakeholders, especially from the region, despite the movement restrictions due to the pandemic," he told reporters after the launch of the hub here, today.
According to him, almost 300 SMEs from 10 countries have already registered and opened their virtual booth at the hub.
Selangor state executive councillor Datuk Teng Chang Khim said the initiative showed that Selangor is always forward-thinking in facilitating SMEs’ transition to the new norms of doing business.
"Selangor is not hibernating and waiting for the crisis to be over. We plan to move up the value chain, to lead in finding a way out of the pandemic by using digitalisation as a tool," he said in his opening speech.
The hub consists of three key components.
The first component involves Invest Selangor Investment Promotional Programmes, a portal that hosts all virtual conferences and webinars organised by Invest Selangor and virtual meetings with potential partners or investors across the region.
The second component, the Virtual Selangor International Business Summit is an alternative online format of the annual Selangor International Business Summit and consists of Selangor International Expo, Selangor ASEAN Business Conference and Selangor Smart City and Digital Economy Convention.
The third component, the Selangor Information Technology and E-commerce Council Virtual Hub is an information and webinar hub for programmes conducted by the council to expand its reach to the international audience.
Teng said the initiative augurs well for Selangor to achieve its vision as a premier regional smart state in ASEAN by 2025.
"We have to accept the reality that the pandemic has created a domino effect on ASEAN's economy and also the rest of the world.
"Nonetheless, the state government has continued to facilitate and assist companies in Selangor in these times of uncertainty to keep their presence in the state and restore their confidence," he added. - Bernama