Indonesian President Receives World Economic Forum’s Global Statesmanship Award

Indonesian President Receives World Economic Forum’s Global Statesmanship Award
Fon Mathuros, Senior Director, Head of Media, Tel.: +41 (0)79 201 0211, Email:fma@weforum.orgThe World Economic Forum presented President Susilo Bambang Yudhoyono of Indonesia with its Global Statesmanship AwardPresident Yudhoyono is the third recipient of the prize. Earlier recipients were President Luiz Inácio Lula da Silva of Brazil in 2010 and President Felipe Calderón of Mexico in 2012For more information on the World Economic Forum on East Asia 2014: http://wef.ch/ea14Metro Manila, Philippines 23 May 2014 – The World Economic Forum presented President Susilo Bambang Yudhoyono of Indonesia its Global Statesmanship Award, the third time the prize has been given. At the presentation ceremony during the World Economic Forum on East Asia, Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, told Yudhoyono – known widely by his initials “SBY” – that the award is “to recognize the many ways in which you have reshaped your country during your two terms as the President of the Republic of Indonesia.” Schwab said: “Many would describe the period of your leadership as Indonesia’s ‘Golden Years’ – a time during which Indonesia’s economic growth has been one of the fastest of the G20 economies.”Noting that the president is one of the co-chairs of the High-Level Panel on the Post-2015 Millennium Development Goals, Schwab praised Yudhoyono, who steps down as Indonesia’s leader in October, for having “contributed significantly to global dialogue on economic development and democratization”. Schwab recalled that, during his administration, the president encountered great challenges, such as the 2004 tsunami, handling them with great statesmanship. He added: “Most of all, you have ensured that democracy remained at the centre of Indonesia’s political identity. You have shown, as the leader of the world’s largest Muslim democracy, that there is a strong compatibility between the tenets of such a great religion with modernity, inclusion, gender equity and education.”Accepting the award, Yudhoyono said that Indonesia has made remarkable economic, political and social progress over the past decade. “We have proved to ourselves and to the world that we do not have to choose between democracy and development,” he said. “We can have both political freedom and high economic growth. We are an example that democracy, Islam and modernity can go hand in hand.”By putting its domestic house in order, Indonesia has been able to play a more active regional and global role, Yudhoyono explained. The quality of leadership matters in development, he concluded. “Leadership can be the 2%-3% difference in economic growth. Leadership can be the difference between new peace and continuing conflict and between development and decay.”The 23rd World Economic Forum on East Asia, hosted with the support of the Government of the Philippines, is taking place in Metro Manila on 21-23 May 2014. The theme of the meeting is, Leveraging Growth for Equitable Progress. The Co-Chairs of the World Economic Forum on East Asia are: Yolanda Kakabadse, President, WWF International, Switzerland; Takeshi Niinami, Chairman, Lawson, Japan; Global Agenda Council on the Role of Business; Atsutoshi Nishida, Chairman of the Board, Toshiba Corporation, Japan; James T. Riady, Chief Executive Officer, Lippo Group, Indonesia.Notes to Editors Follow the World Economic Forum on East Asia at http://wef.ch/ea14 View the best Forum Flickr photos at http://wef.ch/pixView the best photos from this year’s meeting at http://wef.ch/ea14pixWatch live webcasts of sessions at http://wef.ch/liveDownload the Media Mobile/iPad App for the World Economic Forum on East Asia 2014Watch sessions on demand on YouTube at http://wef.ch/youtubeBecome a fan of the Forum on Facebook at http://wef.ch/facebookFollow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweetRead the Forum blog at http://wef.ch/blogView upcoming Forum events at http://wef.ch/eventsSubscribe to Forum news releases at http://wef.ch/newsShare this:Share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)

Brexit issues on Supply Chain tacked using blockchain

Brexit issues on Supply Chain tacked using blockchain
Morpheus.Network and Hanhaa are targeting European agri food vertical and provide a technical solution for issues around BREXIT.Since the 1980s, Global Trade has multiplied by a factor of 3.5 but the Global Supply Chain has not kept pace. In fact, the World Trade Bank estimates that inefficiencies in Global Supply Chain are costing as much as USD 2 trillion of the overall USD 16 trillion market. In addition, the inability of the British Government to secure a BREXIT deal so far is going to exacerbate the trade not only between Britain and the rest of the EU, but between Britain and the rest of the world. To put that into perspective, Rotterdam is the tenth busiest port in the world with 2.3 million TEU (Twenty-foot Equivalent Unit) which is the same capacity as the combined UK ports. “Without an agreed customs deal on the table, Britain is going to have to renegotiate its deals with its European neighbours but it is also looking to renegotiate deals with all other major markets. Not only are there huge inefficiencies already in the system, estimated at an eighth of the global costs, BREXIT places 10% of the world’s trade into jeopardy as new rules or some shape will need to be agreed,” says Karl McDermott, global head of business development at Morpheus.Network. “The global ship is taking on water and needs a solution, fast.”This is where the partnership of Morpeus.Network and HanHaa comes in play. Morpheus.Network is a SaaS middleware platform for legacy and emerging technologies, and Hanhaa, an IoT innovator with a successful parcel tracking product, have partnered to provide a trusted digital footprint for global supply chain managers. Combining blockchain and IoT provides supply chain managers with automated workflows that increase visibility and accountability. Digitizing Global Supply Chains improves operational and financial metrics across the board.Together the two companies are providing a trusted digital footprint for supply chain managers.“Our experience in the parcel tracking world using IoT devices uniquely places us at the heart of track and tracking by adding real time product monitoring” says Azhar Hussain, CEO, Hanhaa. “By partnering with Morpheus.Network and its blockchain platform we can provide a solution that is not only transparent but which is trusted and actionable as part of a workflow – which is fundamental when it comes to agri food, cold chain pharma, perishable and high value goods.”Right now international customs is utterly backlogged, with few tools to manage emerging markets. Blackmarket, contraband goods and counterfeit goods are extremely difficult to track on a pure analogue or human basis. The introduction of IoT devices can help streamline bottlenecks, allowing custom posts to have advanced knowledge of incoming goods using geopositioning devices and the presences of a digital passport, connecting all third parties, can help streamline bottlenecks. “We already have deep experience from working with the US Department of Homeland Security and the US Custom Border Protection on both the Canadian and Mexican Border where we are working on a number of Proof of Concept (POC) solutions based on blockchain.” says McDermott. “Although we can’t provide a solution to the political issues facing Britain, once BREXIT is defined we can implement solutions very quickly.”Although we can’t provide a solution to the political issues facing Britain, once BREXIT is defined we can implement solutions very quickly” .” says McDermott. “We already have deep experience from working with the US Department of Homeland Security and the US Custom Border Protection on both the Canadian and Mexican Border where we are working on a number of Proof of Concept (POC) solutions based on blockchain. Morpheus.Network also already manages the supply of Argentinian beef into the US addressing both the needs of customs and also the issues of food protection and compliance. There are three main challenges facing the Global Supply Chain which Morpheus.Network and Hanhaa are solving digitally.The first is to empower all stakeholders using digital supply chain platforms. This allows for digital documentation and communications – replacing the current largely paper based or email systems. Digital documents are less prone to loss, errors and destruction. A digital platform also ensures accurate compliance with custom, regulatory and governmental restrictions.Secondly, the combined solution offers true transparency using IoT devices. Working with Hanhaa we can automate the collection of all the data points such as temperature, humidity and shock as well as tampering, theft, irregular movement and make them actionable as a workflow using our middleware platform. “Our experience in the parcel tracking world using IoT devices uniquely places us at the heart of track and tracking by adding real time product monitoring” says Azhar Hussain, CEO, Hanhaa. “By partnering with Morpheus.Network and its blockchain platform we can provide a solution that is not only transparent but which is trusted and actionable as part of a workflow – which is fundamental when it comes to agri food, cold chain pharma, perishable and high value goods.”Finally, all the data collected is stored on the blockchain which cannot be altered. “As simple to use an Amazon tracking number, we make a trusted digital footprint available for global supply chain managers “This immutable record of truth is the key differentiator of the Morpheus.Network and Hanhaa partnership.” added McDermott.Morpheus.Network offers a radical improvement upon the actual experience of supply chain managers for optimizing global supply processes with annual savings of 10%. Our SaaS middleware platform creates a digital footprint using emerging technologies such as blockchain, IoT and AI for optimizing end to end supply chains from origin, tracking and tracing, custody and compliance through to payments.“While being a London based company, Hanhaa holds strong links to the continent through our logistics partners in Spain, Germany, Italy and beyond. Recently we detailed the change in legislation across EU E-commerce and parcel platforms, with the aim of creating a single online market and shipping industry enabling a fairer environment for all. This is one of many areas thrown into doubt following Britain’s exit from the EU. Will Britain be included in the single parcel market, or organizations such as European Food Safety Authority (EFSA) for agri food health and nutrition” – Azhar Hussian, CEO, HanhaaThe video below demonstrates blockchain and IoT working together to successfully monitor and organise an agri food supplier from the Netherlands sending fruit and vegetable products to a UK supermarket in London:LINK

High Levels of Inequality Putting Latin America’s Future Generations at Risk

High Levels of Inequality Putting Latin America’s Future Generations at Risk
Alem Tedeneke, Media Lead, Public Engagement, Tel.: +1 212 703 6642; Mobile: +1 646 204 9191; Email: ated@weforum.org Espa?ol | Português Increasing levels of public debt and high wealth and income inequality are taking their toll on Latin America despite improved economic growth prospects, according to the World Economic Forum’s Inclusive Development Index 2018. Younger and future generations are especially vulnerable, with intergenerational equity and sustainability falling over the past five years in 11 of the 16 regional economies covered in the index. Panama, Uruguay and Chile are the most inclusive economies in the region. Of the region’s largest economies, Argentina, Mexico and Brazil rank 23rd, 24th and 37th, respectively. View the index here. For more information on the World Economic Forum on Latin America, visit http://wef.ch/la18 S?o Paulo, Brazil, 14 March 2018 – Returning economic growth across Latin America could mask serious economic challenges for future generations, according to the World Economic Forum’s Inclusive Development Index (IDI). The index seeks to provide leaders with a more accurate picture of an economy’s health based on inequality, debt and environmental burdens placed on future generations as well as economic growth. The 2018 assessment was undertaken following two decades of solid economic activity. During this time, expansion of access to education and government transfers contributed to reducing the level of income inequality in Latin America. While these developments and measures have helped to narrow the income gap between skilled and unskilled workers, Latin America remains among the most unequal regions in the world. “Economic approaches need to emphasize the well-being of future generations and inclusion as key priorities for Latin American economies, and many countries lag behind their peers according to the Inclusive Development Index. As countries move out of recession, they should seize the window of opportunity for speeding up reforms to this end,” said Margareta Drzeniek-Hanouz, Head of Future of Economic Progress, Member of the Executive Committee. The index’s findings provide a fresh lens through which to examine the region’s economic challenges. While 2017 finished on a positive note with recessions ending in Brazil and Argentina, modest rises in economic activity and efficiency over the past five years and a projected growth rate of 1.7% in 2018 will be insufficient to alleviate the region’s sustainability concerns and support a robust rise in median living standards. The World Economic Forum believes that building inclusive societies is essential for long-term economic growth. With elections in Brazil, Chile, Colombia, Costa Rica and Mexico in 2018, governments are urged to prioritize proactive strategies to further reduce levels of inequality and ensure the well-being of future generations. Key findings According to the index, the most inclusive Latin American economies are Panama, Uruguay, Chile, Costa Rica and Peru. Panama made great strides in reducing its carbon intensity of GDP, down 39.7% from five years ago. The country also has the second highest level of labour productivity in the region after Chile. Adjusted net savings, which measures the true rate of savings in an economy after taking into account investments in human capital, depletion of natural resources and damage caused by pollution, has declined in one-half of the Latin American economies ranked in the index, with Bolivia, Brazil and El Salvador performing the worst on this indicator. Moreover, public indebtedness as a share of GDP, which roughly illustrates the scale of borrowing by the current generation against the capacities of future ones, has increased in every country, notably in Brazil (+16%) and Mexico (+14.9%) over the last five years. Although income inequality has declined in 14 out of the 16 Latin American countries ranked in this year’s IDI, the region accounts for 11 out of the 25 developing economies with the highest levels of income inequality. Latin America’s largest economies Ranking 23rd, Argentina’s overall score is supported by its performance on inclusion and intergenerational equity and sustainability. The indicators of economic growth and labour productivity are on the decline as the IDI data predate the current recovery. While Argentina’s income and wealth inequalities are relatively low compared with other Latin American countries, these disparities have been shrinking in recent years. The net income and wealth Gini indicators have dropped nearly 5% and 10%, respectively, over the last five years. Furthermore, the median household income in Argentina ranks in the top quintile of emerging economies in the sample. Although the employment rate is relatively low compared with the regional average, it has increased slightly despite the recent recession. Mexico’s performance, ranking 24th among emerging economies, is driven by its higher score on intergenerational equity and sustainability. Through the lens of the IDI framework, this is in part due to a higher savings rate and low carbon intensity in national production. The country performs comparatively well across the board on growth and development factors, ranking 13th out of 74 emerging economies. It performs in the top quintile among Latin American countries in terms of labour productivity. In contrast, inclusion measures illustrate high levels of economic disparity, although they have shrunk over the last five years. Brazil ranks 37th out of 74 emerging economies on this year’s IDI. Brazil’s overall score in the index is pulled up by its performance on intergenerational equity and sustainability. The country benefits from a highly favourable dependency ratio and relatively low carbon intensity. With the IDI data reflecting the period preceding the economic recovery, growth and development indicators, such as GDP per capita growth, labour productivity and employment rates, are trending negatively. Nonetheless, median household income levels appear to have improved throughout this period. Wealth concentration in Brazil is among the highest in both Latin America and emerging economies and has increased slowly over the past five years. With the Brazilian economy slowly recovering, growth and development factors in the IDI are expected to improve; trends may also be affected by the growth-enhancing reforms proposed by the government to address its fiscal constraints. About the Inclusive Development Index The IDI is published by the World Economic Forum’s System Initiative on Shaping the Future of Economic Progress, which aims to enable sustained and inclusive economic progress. It seeks to achieve this through deepened public-private cooperation, thought leadership and analysis, strategic dialogue and concrete cooperation, including by accelerating social impact through corporate action. The Latin American countries ranked in this index are Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala Honduras, Mexico, Nicaragua, Panama, Peru, Paraguay and Uruguay. Notes to editors: Watch live webcasts of sessions and get more information about the event at http://wef.ch/la18 Guide to how to follow and embed sessions on your website at http://wef.ch/howtofollow View the best photos from the event at http://wef.ch/pix Read the Forum Agenda in English at http://wef.ch/agenda or in Spanish at http://wef.ch/agenda_es Become a fan of the Forum on Facebook at http://wef.ch/facebook Watch our videos at http://wef.ch/video Follow the Forum on Twitter via @wef and @davos, and join the conversation using #la18 Follow our Instagram at http://wef.ch/instagram

Economic Outlook for Latin America- Uncertainty and Risks but with Opportunities

Economic Outlook for Latin America: Uncertainty and Risks but with Opportunities
Alem Tedeneke, Media Manager, World Economic Forum; Tel.: +1 646 204 9191, Email: ated@weforum.org Espa?ol · Latin America is returning to growth after two years of contraction · The risks, including uncertainties about the policies of the new US administration, could hinder the region from taking full advantage of opportunities arising from faster global growth · The region needs to reject corruption and the culture of privilege and instead pursue shared prosperity · For more information on the meeting: www.wef.ch/la17 Buenos Aires, Argentina, 6 April 2017 – While the economic performance of Latin America is expected to be better this year and next compared to 2016, uncertainties and risks could get in the way of the opportunities, leaders from government, finance and international organizations concluded in a session on the economic outlook for the region at the 2017 World Economic Forum on Latin America. “The region is pulling out of recession,” said David A. Lipton, First Deputy Managing Director of the International Monetary Fund (IMF) in Washington DC. “The region has the chance to make important strides.” He pointed out that the global context is favourable, with growth momentum picking up on the back of a rise in industrial production around the world. “It’s time for the region to make the most of an opportunity.” Growth in the region could run to 2.5-2.7% in the short term, he added. “The region is going to grow after two years of contraction,” Alicia Bárcena Ibarra, Executive Secretary, United Nations Economic Commission for Latin America and the Caribbean (ECLAC), agreed. “We have curbed inflation.” But, she cautioned, “the region faces a very uncertain context. What the region hasn’t been able to underpin enough is its investments.” Latin America is difficult to analyse as a whole because of the different situations in each country, but “structural gaps persist that are very complex”. Countries should assess their fiscal space carefully, she advised, noting that more than 14 countries in the region have already undergone tax reforms that have offset in part the drop in non-tax revenue. “We see upside and downside risks,” Lipton remarked. The uncertainties around the new US administration and its policy decisions, especially in trade, are a concern. Latin American countries would do well to build greater links among themselves, increase intra-regional trade and boost links with other regions and emerging markets, he said. The word that best describes the outlook for Mexico is “uncertainty”, Guillermo Ortiz, Chairman, BTG Pactual Latin America at Banco BTG Pactual SA, concurred. The rhetoric during the US election was “highly disruptive” for Mexico, he observed. But “I believe we are in a much better situation – those in the US who are in charge of the bilateral agenda are experienced people who know the country very well.” “The main risk for Panama and the region is the lack of certainties,” Dulcidio De La Guardia, Minister of Economy and Finance of Panama, said. He too argued that the rhetoric of the US presidential campaign does not reflect what is really happening. “We have seen far more reasonable steps taken than what we heard.” In Brazil, Ortiz reckoned, “something very significant is happening”. The country is exiting its worst recession and the new leadership is poised to deliver a stabilized economy. “The most important issue is to ensure the stability of public finances. There is now a cap in total spending and they are focusing on social security. Inflation is dropping significantly. Brazil will have lower inflation than Mexico. I can’t remember when that last happened. Brazil will show modest growth this year but next year might surprise us with far higher growth.” Argentina is another turnaround tale in Latin America. “We inherited enormous problems,” Nicolas Dujovne, Minister of the Treasury of Argentina, acknowledged. But since he came into office in 2015, President Mauricio Macri has implemented reform policies that have yielded significant results. Its fiscal consolidation plans have been deliberate. “Fiscal gradualism is not a slogan to procrastinate in fiscal terms,” Dujovne explained. “It is a strategy.” The administration will be focusing on tax reform after upcoming mid-term elections. “This government was confronted with a very difficult situation and has taken the right approach,” Lipton observed. “It is off to a good start and headed in the right direction.” Asked about corruption across the region, Ortiz predicted that the problem would be “the defining issue” of the presidential elections in Mexico next year. “Corruption is clearly a tax paid by the poor but you have to be certain that, when cleaning your house, you are not knocking it down,” De La Guardia warned. “The fight against corruption hasn’t gone too far,” Dujovne asserted. “Any level of corruption affects investment and the credibility of a country.” “We live in a culture of privileges. But we need to install a culture of shared prosperity – or else we won’t be able to move ahead,” Bárcena concluded. More than 1,000 business, government and civil society leaders are taking part in the 12th World Economic Forum on Latin America in Buenos Aires, Argentina from 5 to 7 April 2017. The theme of the meeting is “Fostering Development and Entrepreneurship in the Fourth Industrial Revolution”. The Co-Chairs of the World Economic on Latin America are: Asheesh Advani, President and Chief Executive Officer, JA Worldwide, USA; Hans-Paul Bürkner, Chairman, The Boston Consulting Group, USA; Patricia Espinosa Cantellano, Executive Secretary, United Nations Framework Convention on Climate Change (UNFCCC), Germany; Alejandro P. Bulgheroni, Chairman Bridas Corporation, Argentina; Marcos Bulgheroni, Executive Director, Pan American Energy LLC, Argentina; and Eduardo S. Elsztain, Chairman, IRSA Inversiones y Representaciones, Argentina. Notes to Editors Follow the World Economic Forum on Latin America at www.wef.ch/la17 Find out more about the event in the Meeting overview View the best Forum Flickr photos at http://wef.ch/pix Watch live webcasts of sessions at http://wef.ch/live Live webcast in Spanish: http://wef.ch/envivo Become a fan of the Forum on Facebook at http://wef.ch/facebook Follow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweet Follow us on Google+ at http://wef.ch/gplus Read our blogs in English at http://wef.ch/agenda Read our blogs in Spanish at http://wef.ch/agendaes View upcoming Forum events at http://wef.ch/events Subscribe to Forum news releases at http://wef.ch/news