WEF meeting in Singapore moved from late May to August

THE World Economic Forum (WEF) special annual meeting in Singapore will now take place from Aug 17 to 20, several months after it was to have been held from May 25 to 28.

The move is in light of global travel restrictions and the international challenges in combating the virus at this stage, said the Ministry of Trade and Industry (MTI) in a statement on Wednesday night.

WEF said in a separate statement on Wednesday night that the change to the meeting's timing is reflective of the international challenges in containing the pandemic.

"Current global travel restrictions have made planning difficult for an in-person meeting in the first half of the year. Furthermore, differing quarantine and air-transport regulations have increased the lead time necessary to ensure that participants globally can make arrangements to join," it said.

MTI said: "The Singapore government understands the challenges faced by the WEF, and has agreed to the reschedule. We will continue to partner the WEF closely to host a safe and successful special annual meeting in Singapore."

This is not the first time the dates for the meeting have been moved. In January, The Business Times (BT) reported that the event dates would be pushed back by nearly two weeks to late May, from its original May 13 to 16 slot; at the time, it was believed that this was done to avoid a clash with Hari Raya Puasa on May 13.

WEF's special annual meeting brings together global political, academic and business leaders to discuss solutions to the world's most pressing challenges. The event was moved from Davos, Switzerland, to Singapore in light of the Covid-19 situation in Europe. Last year's edition attracted about 3,000 participants.

This year's meeting in August will be the first global leadership summit to address the challenges of recovering from the pandemic, said WEF. It added that the meeting will help to lay the base for a "more inclusive and sustainable world".

Reuters reported in January that the WEF is aiming to attract around 1,000 delegates this time, and that the plan is to hold the event at the Marina Bay Sands (MBS) complex. The usual side events will be significantly curtailed due to the virus, its sources said.

However, this year's forum will, for the first time, include a virtual component to allow for greater participation during the pandemic.

WEF organisers are hoping that attendees would be able to avoid quarantines through rigorous testing and by staying in a "bubble" cut off from the local population. MBS was identified as a potential venue because of its ability to host this "bubble", where participants can eat, sleep and mingle.

MBS has more than 2,500 rooms and suites, a casino, shops and restaurants, as well as convention and exhibition facilities that can host over 45,000 delegates.

Klaus Schwab, founder and executive chairman of the WEF, said: "A global leadership summit needs the participation of all global stakeholders. The special annual meeting in Singapore in August will provide the place for leaders from business, government and civil society to come together to address the steps for global recovery."