US$2.5 billion Worth MoUs Exchanged During 13th WIEF

Over 2,500 participants including world leaders, captains of industry and economic experts gathered at the 13th edition of the World Islamic Economic Forum (WIEF) that was themed ‘Disruptive Change: Impact and Challenges’. The forum was meant to address the impact and challenges of disruptive changes across the breadth of industries, technology and politics for a sustainable business landscape.

Additionally, a total of 16 Memorandum of Understanding (MoU) amounting to an estimated value of US$2.5 billion were sealed during the event, marking one of the largest MoU exchanges in the history of the WIEF. The agreements comprised organisations within the technology, halal food and energy sectors, to name a few.

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. In line with our aim of becoming one of the top 20 economies in the world by 2050, the government is placing a special focus on innovation and creativity, championing science, technology, engineering and maths, coding and computer science and technical and vocational training.”

Meanwhile, Tun Musa Hitam, Chairman of the World Islamic Economic Forum Foundation noted: “There may be the convergence of many disruptive forces at the moment across politics, technology and rising protectionism. However, 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 is achieved.”

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