Question

Mr Desmond Choo: To ask the Minister for Trade and Industry what is the economic and business impact of Singapore’s hosting of the Bloomberg New Economy Forum 2021.

Written Answer by Minister for Trade and Industry Gan Kim Yong

1. The Bloomberg New Economy Forum 2021 was an important event for Singapore as it brought together over 300 leading global CEOs, current and former Government leaders, and thought leaders and experts, to discuss solutions to address pertinent global issues in finance, trade, climate change, cities and health.   The Forum affirmed Singapore’s status as a leading business hub and supported the business development efforts of Singapore companies that participated in it.  

2. The Forum also benefitted our tourism sector, which has been hard-hit by COVID-19. It generated around S$1.2 million of tourism receipts across four days, and was widely covered by local and international media. As one of the first physical global Meetings, Incentives, Conventions and Exhibitions (MICE) events held in Singapore amidst COVID-19, it successfully piloted COVID-safe approaches for MICE events. More importantly, the event demonstrated Singapore’s capability in conducting large scale international MICE events safely despite the challenges posed by the pandemic. This benefits Singapore’s competitiveness as a leading MICE destination, and paves the way for Singapore to host other globally significant MICE events.