Press Releases

Disruptive Change:
Impact and Challenges

16 MoUs Amounting to Over USD$2.5billion Sealed During the 13th WIEF

Over 2,500 Participants Comprising World Leaders and Captains of Industry Converge at the 13th World Islamic Economic Forum to Distil Impacts and Challenges of Disruptive Change

Sarawak, Malaysia, 21 November: Over 2,500 participants including world leaders and captains of industry gathered at the 13th edition of World Islamic Economic Forum (WIEF) today. The Forum was officiated by the Prime Minister of Malaysia, The Honourable Datuk Patinggi Mohd Najib Tun Abdul Razak. Themed ‘Disruptive Change: Impact and Challenges’, the Forum brings industry leaders and academic experts together to address the impact and challenges of disruptive changes across the breadth of industries, technology and politics for a sustainable businesses landscape.

Furthermore, a total of 16 memoranda of understanding (MoU) amounting to an estimated value of USD$2.5billion were sealed at the 13th WIEF, of which nine were with international organisations. The MoUs exchanged this year mark one of the largest in the history of the WIEF. The agreements comprised organisations within the technology, halal food and energy sectors to name a few. In the last five years, the WIEF has facilitated trade deals from diverse industry sectors among both Muslim and non-Muslim nations amounting to some US$13 billion.

The Honourable Datuk Patinggi Mohd Najib Tun Abdul Razak, Prime Minister of Malaysia said, “In order to benefit and be at the forefront of the disruptive change, our education system must be revamped to prepare for what will swiftly be a very different world. That is why, in line with our aim of becoming one of the top 20 economies in the world by 2050 through our national development initiative, Transformasi Nasional or TN50, the Government is placing a special focus on innovation and creativity; and why we have championed science, technology, engineering and maths, coding and computer science and technical and vocational training.”

Sharing on Sarawak growth story, The Honourable Datuk Patinggi (Dr.) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, Chief Minister of Sarawak said, “The theme is well-aligned to the transformation of Sarawak’s economy. The move to digital economy will generate higher income for entrepreneurs and create efficiency among businesses. The enhancement of economy through accelerated growth will increase wealth and turn Sarawak to high-income state by 2030. Disruptive change in technological advancement will transform lives and create new opportunities for industries in Sarawak.”

Speaking at the forum, Tun Musa Hitam, Chairman of the World Islamic Economic Forum Foundation said, “There may be the convergence of many disruptive forces at the moment – across politics, technology and rising protectionism, but these forces similarly provide an opportunity for growth and co-operation. There has never been a more exciting time for us to co-operate across political boundaries and across business verticals to uncover new ways of working and devise solutions for the challenges today and to innovate ahead of the curve. In such an environment, we need to ensure that we learn everything, positives as well as negatives, so that the end objectives of human survival and ensuring “the good life” for humanity are achieved.”

The forum was attended by The Honourable Datuk Patinggi Mohd Najib Tun Abdul Razak, the Prime Minister of Malaysia and the Patron of WIEF Foundation, The Honourable Datuk Patinggi (Dr.) Abang Haji Abdul Rahman Zohari Tun Datuk Abang Haji Openg, Chief Minister of Sarawak, H.E.Dr Saad Eddine El Othmani, Head of Government, Kingdom of Morocco, H.E. Djaffar Ahmed Said Hassani, Vice President of the Union of Comoros, H.E. Rustam Nurgaliyevich Minnikhanov, President, Republic of Tatarstan of the Russian Federation, H.E. Prof. Bambang Permadi Soemantri Brodjonegoro, Minister of National Development Planning and, Special Representative of H.E. President Joko Widodo of Indonesia, H.E. Dr. Mohamed Jouini, Vice President, Islamic Development Bank and The Honourable Tun Musa Hitam, Chairman of WIEF Foundation.

Factsheet 13th WIEF MOUs and partnership announcements

For more information on WIEF, please visit


About the World Islamic Economic Forum (WIEF) Foundation

The WIEF Foundation, a not-for-profit organisation based in Kuala Lumpur, organises the annual World Islamic Economic Forum, a world-class business platform showcasing business opportunities in the Muslim world, and runs programmes of the various initiatives of the Foundation that strengthen people partnership and knowledge exchange between Muslim and non-Muslim communities across the globe.

The WIEF has previously held forums in Malaysia, Kazakhstan, Indonesia, Kuwait, Pakistan, the United Kingdom and United Arab Emirates and aims to bring together Muslim and non-Muslim communities through the common language of business.

The 13th World Islamic Economic Forum is held at Borneo Convention Centre, Kuching, Sarawak, Malaysia from 21 – 23 November 2017.

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