World Economic Forum crucial for Malawi’s economic recovery

May 21, 2022

Malawi Leader President Dr. Lazarus McCarthy Chakwera, will be among global leaders attending the World Economic Forum (WEF) scheduled to take place in Davos, Switzerland, from 21 – 25th May, 2022.

Ministry of Foreign Affairs says on his way back from Davos, the President will pass through Malabo, Equatorial Guinea, where he will attend the 15th Extraordinary Summit Meeting of the African Union (AU) on Humanitarian Matters and Pledging Conference.

In Malabo, Chakwera will also be part of the 16th Extraordinary Summit of the AU on Terrorism and Unconstitutional Changes of Government from 26th to 28th May, 2022.

More than 50 heads of government are expected to attend the WEF annual meeting where they will discuss geo-economic challenges impacting the multipolar world.

Least Developed Countries like Malawi will have opportunity to share challenges with the other Heads of state and Government.

The WEF annual meeting will focus on ‘history at a turning point’, the theme of the summit.

The issues to be discussed include government policies and business strategies against a backdrop of the global pandemic, and the war in Ukraine and geo-economic challenges.

The meeting convenes at a strategic point where public figures and global leaders will meet in person to reconnect, exchange insights, gain fresh perspectives and advance solutions.

The meeting’s overriding priority is to accelerate progress and make an impact in tackling global challenges and improving the state of the world.

After two years from this one the meeting will bring together nearly 2,500 leaders and experts from around the globe, all committed to the “Davos Spirit” of improving the state of the world.

Against the backdrop of deepening global frictions and fractures and a once-in-a-century pandemic, the unprecedented global context calls for purpose and resolve, and the meeting’s ambition is to rise to these challenges.

Over the past two years, WEF said it has strengthened its impact initiatives, which deal with issues ranging from COVID-19 and climate change to education as well as technology and energy governance.

These include the Reskilling Revolution, an initiative to provide 1 billion people with better education, skills and jobs by 2030; an initiative on universal environmental, social and governance (ESG) metrics and disclosures to measure stakeholder capitalism; and the 1 Trillion trees initiative, to protect trees and forests and restore the planet’s ecosystems.

With the world at such a critical turning point, global business and government leaders need to work together to develop long-term policies and strategies that will revitalise the hard-hit global economy, strengthen the progress made to advance the Fourth Industrial Revolution and tackle the single greatest threat to humanity — climate change, said the WEF, which describes itself as an international organisation for public-private partnership.

“The Annual Meeting is the first summit that brings global leaders together in this new situation characterized by an emerging multipolar world as a result of the pandemic and war.

“The fact that nearly 2,500 leaders from politics, business civil society and media come together in person demonstrates the need for a trusted, informal and action-oriented global platform to confront the issues in a crisis-driven world,” said Klaus Schwab, Founder and Executive Chairman of WEF.

Cutting across the theme of the meeting are several priorities and issues that define the current moment and will shape the years to come.

The programme will focus on six thematic pillars. These include fostering global and regional cooperation; how to restore stability amid a new era of geopolitical conflict and tension as well as advancing trade, prosperity and partnerships; and securing the economic recovery and shaping a new era of growth.

These also include how to stabilise the real economy and the financial system, while also determining the future of balanced growth, globalisation and development; and building healthy and equitable societies.

The leaders will also discuss how to move beyond the health emergency phase of the pandemic, rebuilding in its wake and strengthening health resilience for future threats as well as investing in good jobs, living wages, skills and education, not forgetting to redefine stakeholder capitalism for a new context.

Over 1,250 leaders from the private sector are also expected to be part of the forum, along with nearly 100 Global Innovators and Technology Pioneers — the world’s most promising tech and business start-ups and scale-ups.

Civil society will be represented by more than 200 leaders from NGOs, social entrepreneurs, academia, labour organisations, faith-based and religious groups, and over 400 media leaders and reporting press.

The Annual Meeting will also bring together younger generations, with 100 members of the Forum’s Global Shaper and Young Global Leader communities participating.

The WEF has been hosting its annual meeting in Davos for over 50 years in January every year, but it could not be held last year and this January due to the COVID situation.

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