12th World Islamic Economic Forum Opens in Jakarta
Jakarta, Aug 2. Highlighting a theme of ‘Decentralising Growth, Empowering Future Business’, the 12th World Islamic Economic Forum was officially opened today (8/2), taking place in Jakarta, Indonesia’s capital.
The three-day forum, which was symbolically opened by Indonesian President Joko Widodo, seeks to explore the crucial role of the way micro, small and medium enterprises (MSMEs) drive growth in economies around the world.
WIEF Chairman Tun Musa Hitam, who delivered the first keynote speech, said the forum seeks to continue to be relevant in international stage by providing real practical and positive solutions for businesses.
Sri Mulyani, in her keynotes said participants of the forum can hold high expectations for the engagement with leaders, high-level government delegates, policy makers as well as market leaders to communicate with those from small and medium enterprises, startup players to inventors.
Touching the theme of this year’s forum, the minister said MSMEs need to be pushed to be in the driver seat of economic growth.
President Joko Widodo said this year remains a challenging one, with the world economy remaining sluggish, global trade at its weakest, and making prospects unpredictable in many regions.
The president said Muslim society around the world must make use of their fundamental strength, which is that the society has the best demographic of any religious group in the world, with the highest proportion of young people.
His Excellency Dato Sri Mohd Najib Tun Abdul Razak, Malaysian Prime Minister, a patron of WIEF, stressed the importance of encouraging the expression of more merit-based economic opportunities in the Muslim world. He added that Muslims seek a world that includes all citizens and shares the proceeds of growth with all. This implies a world that educates all children, supports entrepreneurs and nurtures micro, small and medium-sized businesses. Further, Najib stated that knowledge and innovation must be championed, in an environment of diversity, joy and strength.
Statesmen attending the opening ceremony included the President of the Republic of Tajikistan, Emomali Rahmon; the President of the Republic of Guinea, Alpha Condé; the Prime Minister of Sri Lanka, Ranil Shriyan Wickremenshinghe; and the Deputy Prime Minister and Minister of Trade of the Kingdom of Jordan, Dr Jawad Al Anani.
The President of the Islamic Development Bank (IDB), Dr. Ahmad Mohamed Ali Al-Madani, was also in attendance.
More than 2,607 delegates, representing 63 countries, along with 152 other prominent guests, were registered as participants in this year’s Forum, which showcases business exchanges and opportunities, hosts panel discussions for information exchange, and nurtures partnerships between Muslim and non-Muslim communities across the globe.
Prominent speakers have come from countries including Singapore, the USA, the UK, Italy, Kenya, Ethiopia, Switzerland, the United Arab Emirates, Sweden, South Africa, Spain, Australia and Malaysia, along with Indonesia.
Themes covered in the planned discussions will cover efforts needed to strengthen decentralization of growth, through the sustained empowerment of Micro, Small and Medium Enterprises (MSMEs) and ways to ensure these MSMEs can adhere to international quality standards, may benefit from today’s highly-connected world and can gain access to both regional and global funding.
Participants will hear 51 Forum speakers, as well as 55 others at complementary programs, 15 Presenters at IdeaPad – a niche event at the 12th WIEF Exhibition which feature a sneak preview of the world of startup business – and 16 prominent business leaders, each of whom will offer his unique views on how to facilitate business exchange, at the three-day event.
Key issues to be discussed at the 12th WIEF include sukuk for infrastructure financing, integration of Halal sectors and Islamic Finance, expansion of the global Halal food industry, development of a global ‘modest fashion’ industry, improvement of funding access for MSMEs, integration of MSMEs into digitized trade channels, building more equity crowdfunding platforms, spurring innovation by linking startups to corporations, and inculcating a ‘design-thinking culture’ into business. In addition, the Forum will also host sessions on creative industries, Islamic travel and Halal food markets that will benefit from a fast-growing Islamic economy not limited to the Muslim world, but will better grasp partnerships with a wider international community.
Forum delegates can also enjoy a Marketplace of Creative Arts (MOCAfest) during the second and third day of the Forum. Performers will showcase creative artistic expression from a number of Indonesia’s vibrant and diverse cultural communities, all highlighting the concept of ‘Unity in Diversity’ as encapsulated in the archipelagic nation’s official motto of ‘BhinnekaTunggal Ika’, in the quest to promote peace as well as prosperity around the world.
The WIEF is a non-profit organisation based in Malaysia which regularly organises this annual event, previously held in Malaysia, Kazakhstan, Indonesia, Kuwait, Pakistan, the United Kingdom and the United Arab Emirates.
This year’s forum has been organised by the WIEF Foundation and is hosted by the Ministry of Finance of the Republic of Indonesia, in collaboration with the State Secretariat and Ministry of Foreign Affairs. The event will exploit various networking platforms to build bridges to business for delegates who wish to engage with potential collaborators and investors, extending opportunities to countries showcasing trade opportunities and expanding their business outreach. Platforms include sharing Complementary Programmes, Exhibitions, IdeaPads, Business Exchanges, the ‘12th WIEF Linked Up’ and a Business Networking Breakfast (BNB).
