💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Davos organisers prepare for August summit in Singapore, size unsure

Published 02/10/2021, 01:24 AM
Updated 02/10/2021, 01:25 AM
© Reuters. WEF President Borge Brende speaks to Reuters on 'Davos' plans in Singapore

By John Geddie

SINGAPORE (Reuters) - Having delayed its 'Davos' summit in Singapore twice already, the World Economic Forum is pressing on with plans to gather in August, but how big the meeting is will depend on how COVID-19 concerns play out, the organisation's president said.

Speaking to Reuters in Singapore late Tuesday after holding preparatory meetings with the city-state's government, Borge Brende said he hoped the summit would attract at least 1,000 leaders from politics, business and civil society.

Brende said entry requirements and health regimes in Singapore will ultimately be decided by the government, but added: "all participants that are eligible for participation at our events will be welcomed, vaccinated or not vaccinated."

WEF has twice pushed back its special meeting in Singapore, initially scheduled for mid-May, following the announcement last year it was moving from its usual home in the Swiss alps due to the pandemic situation in Europe.

The summit is due to return to the hard-to-reach ski town from where it takes its informal name in January 2022.

Asked if the Singapore event would be further delayed if it cannot go ahead in August, Brende said: "No, we have no plans to delay it...We can scale it up or we can scale it down.

"I think it's more a question of how big of a meeting can we have in August. Of course we would like to have at least 1,000 participants to have a bit of size."

Brende and a small delegation of WEF officials stayed at the Marina Bay Sands during this week's flying visit, an iconic surfboard-shaped hotel, casino and conference centre that Brende said was the organisation's preferred venue for the summit.

While Singapore has had its borders largely shut for almost a year, WEF organisers hope attendees will be able to avoid quarantines through rigorous testing and by staying in a 'bubble' cut off from the local population.

Brende said his discussions with senior government officials this week, including Prime Minister Lee Hsien Loong, had covered health precautions, topics for the meeting, and securing participation from the United States and China to try and rebuild trust between the two superpowers.

Singapore has longstanding ties with both countries.

© Reuters. WEF President Borge Brende speaks to Reuters on 'Davos' plans in Singapore

The Southeast Asian nation, which has largely tamed the virus locally, has said it will consider relaxing travel restrictions for people who have been vaccinated against COVID-19, including for those attending the WEF summit.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.