Singapore will host the World Economic Forum next year in view of the COVID-19 pandemic in Europe.

The global meeting of top decision makers is set to take place from May 13 to 16, Singapore’s Trade and Industry Minister Chan Chun Sing said in a statement on Facebook.

This would be the second time since its inception in 1971 that the forum will be held outside Switzerland. In 2002, the forum was held in New York to show solidarity with the American people in the aftermath of 9/11.

The meeting will be hybrid in nature with some participants joining virtually.

Klaus Schwab, founder of the global economy forum, said: “A global leadership summit is of crucial importance to address how we can recover together.”

“The Special Annual Meeting 2021 will be a place for leaders from business, government and civil society to meet in person for the first time since the start of the global pandemic. Public-private cooperation is needed more than ever to rebuild trust and address the fault lines that emerged in 2020,” Schwab said, according to daily Straits Times.

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