Connect with us

Hi, what are you looking for?

Economy

World Economic Forum cancels 2021 annual meeting in Singapore

ZURICH/SINGAPORE – The World Economic Forum has cancelled its annual meeting – the blue-ribbon event for the global elite to discuss the world’s problems – due to be held in Singapore this year, the organisers said on Monday.

The COVID-19 pandemic meant it was not possible to hold such a large event as planned on Aug. 17-20, they said.

“Regretfully, the tragic circumstances unfolding across geographies, an uncertain travel outlook, differing speeds of vaccination roll out and the uncertainty around new variants combine to make it impossible to realise a global meeting with business, government and civil society leaders from all over the world at the scale which was planned,” the WEF said in a statement.

The event, which attracts VIPs from the worlds of politics and business, has been held since 1971.

It was shifted from the Swiss Alpine resort of Davos in December over concerns about safeguarding the health of participants.

Separately, the Shangri-La Dialogue Asian security summit, which is to take place from June 4–5, plans to go ahead with the event.

“IISS remains on track to convene the 19th Shangri-La Dialogue in person in Singapore in early June,” the organiser, the International Institute for Strategic Studies said in a statement.

“The World Economic Forum’s decision does not affect our plans. We have a full line-up of ministers and other senior leaders from around the world planning to attend our event,” said IISS.

In a statement, Singapore’s defence ministry said it was “encouraged by the positive response to invitations” to the meeting.

“Nevertheless, as the COVID-19 situation is fluid and continues to evolve in the run-up to the meeting, the Singapore government will continue to monitor the local and global COVID-19 situation and make the necessary adjustments.”

Singapore has in recent days imposed some of the tightest restrictions since it exited a lockdown last year to combat a spike in local COVID-19 infections.

Acknowledging WEF’s decision to cancel the event, the Singapore trade ministry said on Monday that it “fully appreciates the challenges caused by the ongoing global pandemic, particularly for a large meeting with a broad span of international participants.”

The WEF’s next annual meeting will instead take place in the first half of 2022. Its location and date will be determined based on an assessment of the situation later this summer, it added in a statement.

Last year nearly 3,000 participants from 130 countries came to the WEF in Davos, which bills itself as a place for global leaders to work together to shape the global, regional and industrial agenda. Speakers last year included environmental activist Greta Thunberg and U.S. President Donald Trump.

Founder and Executive Chairman Klaus Schwab said the decision to cancel had been difficult, particularly as many people wanted to “come together not just virtually but in person, and to contribute to a more resilient, more inclusive and more sustainable world,”

“But ultimately the health and safety of everyone concerned is our highest priority,” he said. – Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

THE SENATE on Monday ratified the Bicameral Conference Committee report on a measure that seeks to lower the minimum investment hurdle for foreign retailers...

Economy

The Philippines is one of 17 countries that have kept schools fully closed since the pandemic began, according to a report released by the...

Economy

Workers are busy cleaning in preparation for the restaurant’s reopening in Marikina City. — PHILIPPINE STAR/ MICHAEL VARCAS THE RESTAURANT industry is anticipating some...

Economy

EXCISE TAX collections from cigarettes jumped by 31% to P83 billion in the first seven months, with more than half coming from Philip Morris...

Investing

The world’s largest franchisor of home service brands, has announced the acquisition of Pimlico Plumbers, central London’s leading independent residential and commercial service and...

Economy

MEGAWORLD Corp. will be spending P40 billion to develop an eco-tourism township in Palawan in the next 10 to 15 years, Andrew L. Tan’s...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!