An independent and impartial international organization for public-private cooperation, the World Economic Forum’s (WEF) primary objective is to improve the state of the world. It is perhaps the only organisation of its kind that does not promote any political, commercial or personal interests and unlike other entities it also does not use the names of its participants for promotional purposes. Headquartered in Geneva. The WEF is independent, impartial and not tied to any special interests. For progress to happen, people from all walks of life with drive and influence must come together to make positive change. Committed to improving the state of the world, this extraordinary international organization for public-private cooperation carefully blends and balances the foremost political, business and other leaders of world society to shape global, regional and industry agendas.
Since its inception in 1970 the WEF has hosted its Annual Meeting at the snowy resort of Davos at the beginning of the new year where world leaders of govt, economy, technology, politics, media and culture get together to discuss global problems and threats that exceed the management abilities of national governments. As many as 3000-3500 participants are drawn from across the world from every sphere of influence. This year marks the 50th anniversary of the Annual Meeting and is being held from Jan 21-24, 2020 under the theme “Stakeholders for a Cohesive and Sustainable World”. The many challenges faced by a complex and interdependent world i.e. economical, environmental, social and technological, cannot be addressed by a company, institution or individual alone. Professor Klaus Schwab, Founder and Executive Chairman of the WEF said, “People are revolting against the economic ‘elites’ they believe have betrayed them, and our efforts to keep global warming limited to 1.5°C are falling dangerously short”. “With the world at such critical crossroads, this year we must develop a ‘Davos Manifesto 2020’ to reimagine the purpose and scorecards for companies and governments. It is what the World Economic Forum was founded for 50 years ago, and it is what we want to contribute to for the next 50 years.” This Meeting will seek to engage public and private actors in supporting global, regional and national initiatives that generate positive impact for all stakeholders. Focusing on global, regional and national initiatives that generate positive impact for all stakeholders, four global issues will feature prominently on the agenda i.e. (1) address the urgent climate and environmental challenges harming our ecology and economy (2) transform industries to achieve more sustainable and inclusive business models (3) govern the technologies driving the Fourth Industrial Revolution so they benefit business and society while minimizing their risks to them; and (4) adapt to the demographic, social and technological trends reshaping education, employment and entrepreneurship.
Some very prominent names due to attend this event are: US President Donald Trump. He cancelled his participation at the event in 2019, amid a row with the Democratic Party over security spending. Billionaire George Soros, Chairman of Soros Fund Management, a familiar face at Davos. Sanna Marin, the world’s youngest serving prime minister as well as Finland’s third female leader. Ursula von der Leyen, president of the European Commission and formerly the German minister for defense. Many eyes will be on Christine Lagarde, newly appointed first female President of the European Central Bank (ECB) and former Managing Director of the International Monetary Fund. The founder of Huawei Technologies, Ren Zhengfei will be at Davos his company having led the 5G race across the world. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) will present her institution’s latest economic assessment. Hundreds of luminaries will attend this event but cannot be mentioned because of space constraints.
Prime Minister (PM) Imran Khan is also coming to Davos this year, this is a good omen for Pakistan, particularly at a time when this country faces difficult times and also given the current regional situation. An extraordinary recognition has been given to Imran Khan, he is the first leader from a developing country to have a sole “Plenary Session”. On Wednesday, Jan 22 he will be delivering a special address at the Congress Center in Davos. Foreign Minister Shah Mahmood Qureshi, Commerce Minister Razak Dawood, Advisor of Finance Dr. Abdul Hafeez Shaikh will be part of PM’s delegation. Imran Khan is no stranger to Davos, having visited in 2011, 2012 and 2013 as our Chief Guest at the Breakfast when he was in the Opposition. Unfortunately, Pakistan’s previous and current economic policies have failed to achieve long term objectives because of which the country is facing one of the worst economic crises in its short history. Having a very long history of external borrowings such as the IMF, Pakistan’s inability to repay its debts has added to the worsening economic conditions. Foreign investment has reduced substantially because of the govt’s tax and tariff policies, this has had a negative impact of the economy.
This is a very good opportunity for PM Imran Khan given that he will be having meetings with a host of world leaders and dignitaries, etc which gives him an ideal opportunity to explain the prospects of investing in Pakistan. Corruption and money laundering have affected our economy deeply, Imran Khan is the best person to explain to the Davos audience how he has been taking steps to combat corruption at the highest level in Pakistan. He can inform them about his vision for Pakistan, of a corruption free nation, his vision regarding Pakistan’s progress especially his focus on economic stability, human development, etc. His presence in Davos thus becomes of vital importance for Pakistan.
The PATHFINDER GROUP has been joined for the last five years by MARTIN DOW GROUP to contribute to Pakistan and project a soft image of their country to the world at Davos. Among the many initiatives taken are the PAKISTAN PAVILION, a walk-in affair where stalls manned by Pakistani professionals in their respective fields give presentations to visitors and interact with international investors, experts and officials. First launched 18 years ago, the traditional PAKISTAN BREAKFAST is another major initiative that has developed into an institution acknowledged by those attending Davos regularly. This event usually has as its Chief Guest either the President or the Prime Minister of Pakistan. At the Pakistan Dinner on Jan 21 a chat session will be held on “Economic Reform and Revival Financial Inclusion in Pakistan” while at a Lunch at the Pakistan Pavilion on Jan 22 a get together is being arranged to discuss “Corporate Social Responsibility force-multiplying Gender Empowerment, Education and Philanthropy in Pakistan”. On Jan 22 a dinner is being arranged at the Pakistan Pavilion where discussions will take place on “A Digital Agenda to shape Pakistan’s Future”. On Thursday Jan 23 Prime Minister Imran Khan will be the Chief Guest at the Pakistan Breakfast giving him the perfect opportunity to interact with dignitaries. The last item on the Pathfinder Group and Martin Dow Group Private Events. On Monday Jan 21, the Pakistan Dinner Mr. Abdul Hafeez Shaikh and Governor SBP Dr. Reza Baqir speak at a Pakistan Dinner at the Schatzalp about Pakistan’s Economic Reforms and Revival, Financial Inclusion in Pakistan and the Salutary positive effect thereof on Pakistan’s economic. They will also be there at the Pakistan Pavilion on Wednesday Jan 22 at the Panorama and Lunch on Jan 23 at the Schatzalp where participants will discuss the economic and geopolitical impact of the “China Pakistan Economic Corridor (CPEC) and the BRI”.
The Annual Meeting achieves the greatest media impact compared to an annual event outside the world of sport. Not tied to any political, partisan or national interests and “committed to improving the State of the World”, the WEF works under supervision of the 7-member Swiss Federal Council which constitutes the Federal Govt, serving as the collective executive head of govt and the state of Switzerland. WEF’s mission to “improve the state of the world” means engaging top global leaders to collaborate in shaping the global, regional and industry agendas. It is unfortunate that only a handful of Pakistani businessmen come to Davos, they can never shoulder the burden of projecting Pakistan. Davos is a unique opportunity to showcase Pakistan, it is imperative that those who matter in our business sector start using the Davos platform.