Syllabus Section: Economy / International Organisations
Why in News?
The World Economic Forum will convene the Special Annual Meeting 2021 in Singapore from May 13-16, 2021.The World Economic Forum (WEF 2021) will be moved from Davos in Switzerland to Singapore due to COVID-19 concerns. The organizers announced the decision recently.
• The annual gathering will be moved out of Europe next year, as the organizers feel that the COVID-19 pandemic will make it challenging to host the event safely in Europe. The WEF is an annual gathering of political and business leaders.
• This is only the second time since its inception in 1971 that the event, which is usually held in January at Davos, will be hosted outside Switzerland. It will be held in Asia for the first time.
• Singapore was chosen as the new venue for WEF 2021 after careful consideration, as it has been largely successful in dealing with the pandemic.
• WEF is Swiss nonprofit foundation, based in Geneva. Founded in 1971
• It works to improve the state of the world through public-private cooperation.
• It serves as independent not-for-profit organization that works closely with other international organizations.
• WEF is best known for its annual winter meeting for five days in Davos, a mountain resort in Graubünden, in eastern Alps region of Switzerland.
• The meeting brings together some international political leaders, 2,500 top business leaders, selected intellectuals, and journalists to discuss the most pressing issues facing the world.