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SINGAPORE: The biggest-ever three-day Forbes Global CEO Conference kicked off in Singapore on Monday. It is expected to attract 450 influential business leaders from around the world, with a combined net worth of over US$160 billion.
Steve Forbes, CEO, Forbes, said: "The global economy which has been seen as in relentless growth is now in turmoil. Financial systems are in turmoil. You heard over the weekend that the two big mortgage companies in the US are effectively being taken over by the US government.
"So it is good to bring together the best minds of the world. That is why we call the conference the winning hand."
A winner in this year's conference is the Chairman and CEO of ArcelorMittal, Lakshmi Mittal. He is ranked the fourth richest in the world by Forbes with an estimated net worth of US$45 billion.
He will receive the third Malcolm S Forbes Lifetime Achievement Award, which honours those who champion the ideals of free enterprise.
Also attending the conference is Professor Michael Spence, the Chair of the Commission on Growth and Development. He took the opportunity to call on Singapore Senior Minister Goh Chok Tong, who is a member of the commission.
The commission released a landmark report on sustainable growth and development in May.
During the meeting, Mr Goh and Professor Spence discussed the response and follow-up to the growth report. They also exchanged views on global economic developments. - CNA/vm
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