Emerging markets to benefit from 12th World Islamic Economic Forum

Banking & Finance
| The European | 14th June 2016

Kuala Lumpur, 9 June 2016 – Country leaders and business communities from different parts of the globe are expected to gather at the 12th World Islamic Economic Forum (WIEF), which will be held in Jakarta, Indonesia this year, from 2 to 4 August. Jakarta will be hosting the event for the second time, following the successes of WIEF forums that had been held in major cities including Kuala Lumpur, Astana, Dubai, Kuwait, and London.

The 12th WIEF aims to further explore the crucial role of micro, small and medium enterprises (MSMEs) in driving economic growth in economies around the world, in line with its theme of “Decentralising Growth, Empowering Future Business”. Decentralisation of growth empowers MSMEs by facilitating a larger participation in mainstream economy that ensures inclusive economic development, spurs innovation and improves efficiency, giving enterprises the competitive edge to navigate through the ever-evolving business landscape.

Emerging markets will stand to benefit at the 12th WIEF as the programme is designed to provide various avenues for delegates to interact and connect with like-minded individual who are looking at prospective business and investment opportunities.

At the Opening Session, country leaders will share nations’ economic strategies and foreign direct investments. Emerging markets are able to engage with a specific group to showcase their key business and investment opportunities during the Investment Programmes. The Business Exchange is designed for entrepreneurs and corporations with new business ideas to extend their reach to the international business community, and to serve as a gateway to galvanise support, raise funds and establish new partnerships. Startups will have a unique opportunity to pitch their ideas and concepts to top industry professionals and leading investors.

SME Business booths at the Exhibition provide a stage for MSMEs to promote their products and to engage with MSMEs from other countries and relevant stakeholders. At the Business Networking Breakfast, like-minded individuals can meet informally to discuss current trends and issues relating to their respective industries. There are 10 Country Desks where businesses and industries from 10 nations will be represented, which is also a platform for exploring potential trade opportunities.

The Honourable Tun Musa Hitam, Chairman of WIEF Foundation said, “Our focus at the 12th WIEF, as in our previous Forums, will continue to be on promoting business and economic collaboration as a fundamental doctrine to improving the economic well-being of the global community.”

Key issues that will be discussed at the 12th WIEF include shariah bonds for infrastructure financing, integration of Halal sectors and Islamic Finance, expansion of the global Halal food industry, development of the global modest fashion industry, improving funding access for MSMEs, integrating MSMEs into the digitized trade, building more equity crowdfunding platforms, spurring innovation by linking startups to corporations, enhancing the quality of regional competitiveness, internationalization of women-led businesses, and inculcating the culture of design-thinking for business.

According to Tun Musa, Malaysia and ASEAN had become the pioneer market for driving the global community to discuss and act upon this year’s theme of ‘Decentralising Growth, Empowering Future Business’. “Malaysia also plays a very strategic role in ASEAN as in ensuring its growth and penetration to the global market as well as a leading example of Muslim businesses and innovations, while also strengthening the bond between Muslim and non-Muslim business communities in the region.”

“Emerging markets should tap into the abundant business and investment opportunities in Indonesia. The Indonesian government has a key focus on Halal tourism, infrastructure development, MSME development, Islamic finance, human capital development and creative economy, areas to drive her economic growth.”

The 12th WIEF is expected to bring about positive global impact, as it provides an ideal avenue for world leaders, captains of industries, academicians, key opinion leaders and business experts to exchange views and experiences as well as generating fresh insights, and innovative and sustainable solutions to respond to challenges and opportunities surrounding the huge potential of consumer economy, and how it will shape the global business environment.

This year’s Forum will continue to build bridges through business by providing various networking platforms to delegates who wish to engage with potential business collaborators and investors, and to countries that intend to showcase trade opportunities and expand their business outreach. These platforms include Complementary Programmes, Exhibition, IdeaPad, Business Exchange, 12th WIEF Linked Up and Business Networking Breakfast (BNB). Forum delegates can also look forward to the Marketplace of Creative Arts (MOCAfest) from 3-4 August 2016 to experience the dynamic relationships between business and the arts.

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