The World Economic Forum Special Annual Meeting 2021 that is to be held here in May has been postponed to Aug 17 and 20. 

The consistent number of new Covid-19 cases, as well the challenge of dealing with new variants of the virus, have forced countries to maintain travel restrictions. 

"Current global travel restrictions have made planning difficult for an in-person meeting in the first half of the year,” says the WEF in a statement.

SEE:World Economic Forum to be held in Singapore in May

"Furthermore, differing quarantine and air transport regulations have increased the lead time necessary to ensure that participants globally can make arrangements to join."

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Klaus Schwab, founder and executive chairman of the WEF, says that a global leadership summit needs the participation of all global stakeholders. 

"The Special Annual Meeting in Singapore in August will provide the place for leaders from business, government and civil society to come together to address the steps for global recovery," he adds.

"The Singapore Government understands the challenges faced by the World Economic Forum and has agreed to the reschedule," says the Ministry of Trade and Industry in response to media queries.

"We will continue to partner the World Economic Forum closely to host a safe and successful Special Annual Meeting in Singapore."