PM Lee to take part in Bali CEO Summit

The leaders of at least 15 Pacific Rim countries, including Singapore Prime Minister Lee Hsien Loong, are scheduled to speak at the upcoming Asia-Pacific Economic Cooperation (Apec) CEO Summit in Bali in a fortnight's time.

The three-day event, billed as "Asia-Pacific's premier business event", will take place on the Indonesian resort island on Oct 5-7 as part of the annual Apec Summit.

Indonesia holds the rotating chairmanship of the 21-member bloc, which accounts for about 55 per cent of the world's gross domestic product (GDP) and some 44 per cent of global trade.

Singapore is one of the 12 founding members of Apec, which was established in 1989.

While most of the world's attention will be on the Leaders' Summit taking place on Oct 7 and 8, the by-invitation- only CEO Summit has taken on a life of its own as a major pow-wow that brings the world's top corporate figures, policymakers and heads of state and government under one roof.

This year, more than 1,200 global CEOs and business and thought leaders will convene under the summit's theme, "Towards Resilience and Growth: Reshaping Priorities for the Global Economy".

According to the latest programme released last Tuesday, some 15 Apec leaders will speak at various sessions held at the Bali International Convention Centre in Nusa Dua, an enclave in south-eastern Bali.

Singapore's PM Lee is listed as one of the dialogue participants for a session on Oct 6, titled "The State of the World: A Strategic Assessment".

Along with PricewaterhouseCoopers International chairman Dennis Nally and Cofco Corporation chairman Frank Gaoning Ning, he will discuss the state of the global economy, focusing on the main threats and geopolitical tensions.

The other world leaders in attendance will include US President Barack Obama, Japanese Prime Minister Shinzo Abe, Russian President Vladimir Putin and new Australian Prime Minister Tony Abbott.

Among those from the business sector are the likes of AirAsia group CEO Tony Fernandes and FoxConn chairman Terry Gou.

Chinese President Xi Jinping will deliver the closing address and attend the handover ceremony with Indonesian president Susilo Bambang Yudhoyono. China will be the next Apec chair for 2014.

Bali has been undergoing a major face-lift in the build-up to the Apec Summit meetings. The state has spent 2.8 trillion rupiah (S$320.1 million) to expand the Ngurah Rai International Airport and the island's first underpass that cost around 148 billion rupiah.

According to the latest state estimates, Bali is forecast to record economic growth of 6.8 per cent this year, higher than the 6.6 per cent posted in 2012.

"The summit is playing a major role in driving the island's economy this year. It is certainly improving our economic performance," provincial Economy and Development Agency head Gede Suarjana was quoted as saying in a recent Jakarta Post report. "All the projects have increased our investment and driven our economic growth."

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