 Right now we're facing a crisis of international proportion. It's a healthcare crisis, but it's also an economic crisis. It's going to have long-term impact for us. And we're going to see that the biggest impact is actually going to be acceleration of food equality. The systematic way that we have been built is not holding up. The foundation is cracking. Our duties remain the same. The fact that we should not leave anybody behind again. Many organizations have seen what the impact is of a sudden crisis and how we're able to better navigate this crisis today with the help of technology. And that means the reskilling and upskilling of your own workforce. Jobs of tomorrow are technologically enabled, but also extremely human-centered. It's an ability to work with technology easily. On the other hand, with this new way of working and especially remote work, we see that there is a huge need of emotional intelligence. We have really to invest a lot in people to guarantee their jobs, but also to allow them the mobility they need on an ever-changing labor market. Eight out of ten of the young people who are in low- and middle-income countries are going to have to be entrepreneurs. They're going to have to make jobs for themselves. Having creative curriculums and teaching creativity is enabling your learners to have transferable skills, resilience, mastery, collaboration, asking questions why, how, when. This is what they need in order to thrive in any profession which they choose. The moment you incorporate margin-the-night segments of society, it changes. The product offering, it changes the way that we think about supply chains. When you cater to the margins, the positive externalities in economic terms are pretty enormous. It is critical that leadership understand that the burden of responsibility of driving change starts at the top of the organization. So that corporations can give back to the communities, make them more resilient as we deal with these issues around both economic and racial inequality. We need men and women giving the recovery because there is no way we can ever think that a wealth that is lived by men is a wealth that is good for everybody. Now is the moment that we can think about how we use that possibility, the new ideas, the new technology, the new wealth to really create social systems in which we can all flourish. We have the greatest brains, talent, resources in the world. There is no reason that we can't and no excuses that it's too hard or too complicated. Good afternoon from Geneva. We have great guests with us here at the Job Summit and this agenda dialogue series and also hello to all our listeners and watchers. We are still in the middle of a global pandemic, but we're seeing the light in the end of the tunnel. We know in many countries growth is back, but we are also reminded that many countries will, not even this year, see pre-COVID numbers when it comes to the output GDP. Some large economies will by the end of this year have a higher GDP than before COVID, but that's not the case everywhere. This session is really about how we recreate growth and where will growth come from in the future and how to make sure that this growth is creating jobs, decent jobs, is more sustainable than before and also that we will address and have to address inequalities. As I said, the panelists are great, so I'm sure they will be able to give us a lot of insights in where the growth will come from and how to then get out of this crisis. I'm happy to welcome Prime Minister of Belgium, Prime Minister Alexander the crew. I'm also very happy to welcome the Deputy Prime Minister of Singapore, Heng Swee Kat. Also, Minister Nishimura from Japan. He is Minister for Economy and Fiscal Policy, but also in charge of fighting COVID-19 in Japan. And then we have a Minister of Trade and Industry from Rwanda, Bertha Habiri Amana. And we have also here from Switzerland, Thomas G. Jordan. He is the Chairman of the governing board of the Swiss National Bank. Welcome. We have Anila Denage, Minister of Economy and Finance from Albania. Hello. And we have Alan Bajani, the CEO of Majid Al-Futayim, holding from the UAE, but investing in the whole Middle East and other regions. And not least, Rod Shah that is the President of the Rockefeller Foundation, former also head of the USAID and a lot of other things. Welcome all of you. So I think the biggest challenge I know is to make sure that we will have all of you speaking in the next hour and that we can also create some dialogue here. So please, in the response to the first question, if you can then stick to like two and a half minutes, then we'll also make sure that you can speak to each other. I'm also very pleased to have my good colleague, Sadia Sahideh. She's the managing director here at the forum, but also heading our center for the new economy and society and the brain behind the whole job summit. So, Sadia, I know you have huge expectations from this panel and maybe two words from your side before we kick off with Prime Minister De Kru on what you expect and what this session really is about. Thank you very much for the opportunity and welcome to all of our guests online and all of the participants of the panel. We know that there are starting to be more positive projections around a return to growth. But there are some question marks about whether this is really the right form of growth and whether we don't need at this stage a new vision for where growth will come from. We know that in many developing economies, competing on the basis of cheap labor or aspiring to a manufacturing-led growth model may not be the way of the future. We also know that despite the Fourth Industrial Revolution integrated into so many advanced economies, there hasn't necessarily been an equivalent rise in productivity across many of those developed economies. And so as we look towards the future, might we be able to focus on some new markets of tomorrow? The World Economic Forum has identified over 20 markets of tomorrow that relate to AI and data and of course many of the technologies that we're all familiar with, but also hydrogen and electric vehicles and plastics recycling and soil treatment and then finally the social economy. And that is the sectors that relate to childcare and elder care and reskilling and education and genetics and other aspects that relate to people. How might we be able to identify some of these markets of tomorrow and two, how might we be able to get there with the right kind of public sector nudging combined with private sector investment? Those are the two core questions that we want to get into the discussion today. No, thank you, Sadia. You made my job really easy. Prime Minister Alexander Dukru, you heard the questions from Sadia. Where will growth be coming from in the years to come and how can we secure that growth and making sure that it's also more inclusive and creating jobs over to Belgium and Brussels? Yes, thank you and thank you both for the great introduction. Of course, we are looking into growth starting from the situation in which we are which is an economic crisis, but I would say quite a typical economic crisis. We've had the discussion internally. If you look at it at the macro level, who are today actually the casualties of the economic crisis that we're in? It's not so much the citizens. If you look at unemployment, we've seen in the Belgian economy that unemployment numbers have actually not really gone up. It's not really the businesses either because if you look at the statistics on bankruptcies, bankruptcies actually have not gone up at all. One potential casualty could be public finances, of course, because we see throughout the Euro area that debt levels have gone up. But you could say, well, maybe that was the right choice because this was what needed to be done to preserve the economic fabric. What we are confronted with now on the short run, because we see that as you indicated Borges, the economic, we will be at pre-COVID levels of output and of growth by end of this year. What we see right now is supply side constraints and supply side constraints are quite acute. They are there obviously in labour markets and we already see them right now coming out of the confinement. We also see them on the absorption side of investment. Investments have kicked up to a level that was completely unexpected. Also, if you look at the confidence statistics, consumer confidence and business confidence is at the highest level since 2007, quite unseen what we have now. On the short run, if you really want to see the growth and especially the job creation growth, we have some short term, classic supply side issues and we need to tackle that. On the longer term, yes, obviously, there will be some disruption, but from my perspective, there should also be some transition. Disruption, yes, on the technological side, disruption on the sustainability side, definitely. But if there is one place where we don't want disruption, it's on the social side and no one likes social destruction. And coming out of this pandemic, I think this is the last thing we need knowing all the polarization that we have seen throughout European society. So that is going to be, I think, in the medium term. After the short term supply side constraints, bottlenecks that we have, is a transition that is a social transition. That means, yes, a lot of training and especially on the job training, but also on the market regulation side. I know there's a lot of discussion on taxations of multinationals and fair taxation in the digital world. I subscribe to that. I think it's important. But from my perspective, even more important than that is market concentration. And it is market regulation and apply market regulation, which from my perspective is going to be one of the key elements to translate this growth into something which is a social transition. If we want economic growth, this economic growth needs to be one where everyone is able to benefit from and from where everyone feels that it is something fair. Thank you so much Prime Minister. Thank you, Alexander, for that very thoughtful intervention. Let us then move to Asia. This is the year where Asia is getting close to 50% of the global GDP. We know that Singapore, as a very successful economy in Asia, is also very much at the core of the global supply chains. And Prime Minister Dekru just alluded to the challenges that we have also seen on the supply side piece. It has been our strategy that it is just in time, but no, I think we are also focusing on just in case because we also need to have access to different components. For example, when it comes to medicine, vaccination and etc. Deputy Prime Minister, we are seeing numbers also increasing when it comes to growth in Singapore. And where do you see future growth coming from? I think COVID-19 has dealt a deep shock to the whole global economy. But it has also thrown up new needs and accelerated new trends. So addressing these needs and trends can provide new sources of growth and create good jobs. Let me share three suggestions. First, I think our top priority to restore growth and to protect lives is to contain the pandemic. Right now, we are in a race between how fast we vaccinate our people and how fast the virus mutates. The B117 variant, for example, is twice as transmissible as the original strain. So we are really still at the thick of battle. So let's cooperate to share information, innovate on testing and distribute vaccines equitably to programs like COVAX. And I must say that the speed at which vaccines have been introduced is unprecedented. So we must push on with this momentum of innovation. And I think looking into the future, I think COVID is likely to become endemic. And for economic activities to resume, we need innovative measures to live with COVID. Second point I want to share is that COVID has accelerated the digital revolution. And to harness the potential of the digital economy, we need to harmonise standards and allow the trusted flow of data and facilitate cross-border transactions. So Singapore has signed digital economy agreements with several countries. And we hope that more can come on board so that we can keep our supply chain and our flow of information going. And third, COVID has also reminded us of the importance of our biodiversity and Earth's ecosystem. So to emerge stronger, we need to invest in green solutions for green recovery. And in Southeast Asia, it has potential to contribute to a green transition through nature-based solutions for carbon removal. And up to 120 million hectares of land available for reforestation, we can contribute to a carbon removal of 3.5 gigatons a year. So this is around 10% of global carbon dioxide emissions. And a trusted exchange for the trading of carbon credits can catalyse investments in carbon removal. So by the end of this year, an exchange called Climate Impact X will be launched in Singapore. So we must mobilise finance to promote green activities such as green form of energy and infrastructure. And the government itself, the Singapore government is catalyzing this by issuing $15 billion of green bonds. And to access this, I think most of all, we must focus on redesigning jobs and rescaling our people. Because I think with all of these changes going on, jobs are going to be changed in very significant way. And in this regard, workers, businesses and governments all have important roles to play. Thank you. Thank you so much. And thank you for sharing this. And it is, of course, something to think about what you mentioned also that the fact is that the strains that we are facing now when it comes to COVID-19 is probably then double as infectious as the ones that we were facing at the beginning. So we're not out of the woods yet, I guess. And I saw your neighbouring country in Malaysia had to close down in the weekend. Well, it's a problem that is affecting almost everyone. Countries which opened had to close in varying fashion. So we do are in a state of heightened alert. Well, thank you. Thank you. Let's then move to Japan to Minister Nishimura. I know you're extremely busy. You're in charge of the Japanese economy. But at the same time, you're also leading the task force dealing with COVID-19. There is an Olympics coming up. So we're very happy that you could join us. Japan being the third largest economy in the world. Where do you see growth coming from in the years to come, Minister? So happy to see you. Thank you very much. So let me speak in Japanese. Yes. The UK is making the progress for the vaccination. So I think the UK is making its way. But Japan is quite low. So we really want to contain the infection. And then 30% of the population will be vaccinated. So we're very happy that you could join us. Thank you. Thank you very much. Thank you. I think with the Q&A question that I asked, I think what we need to do is to get to the. Infection. And then 30% of the population will be vaccinated by the end of July. So that we make sure that the Olympic will be held very safely and also safe. And as you pointed out that the COVID-19 really identified a many issues. One is digital. Another one is green issues. and also we will be drawing the power from the private sector to really work together. So I would like to say today is that the growth should be supported by the people because Japan do not have a resources, our resources, the people. Even though we had a success in the past that we shouldn't be biased by the past success. We really have to explore the new frontier. We really have to identify the issues and challenges. So solving the problems by just looking at the challenge but we really have to discover the challenge, hidden challenge and hidden issues. We have to find the talent to do that. Japan is an island and we are not really homogeneous race but it is often said that we are very much closed nation but now we have to welcome the diversified talent in our country. Fortunately, in case of sports, as you know that we have Hideki Matsuyama one in the masters and in the United States, Shouhei Otani, the super major leaders are really enjoying the great baseball games, both batter and also the pitcher and also Naomi Osaka. She won in the US tennis open and also Australian Open. She's in early 20s and all of them are in 20s and Japanese younger stars are very active. And also last year, the startup, over 100 startup went through the IPO since 2007. The UK, excuse me, US is about the 400 startups so that we are almost the same level as those areas. Then traditional companies, let's say Sony, now created the EB and probably know the one of the oldest traditional company, Idemitsu. Again, they have introduced themselves into EB with a startup so that these kind of new waves are coming into Japanese market. Youngsters and also women, I would like to talk about these points, youth, the young generation. Well, in the past we had been based on the seniority system and sometimes mainly men's and male workers in your mainstream, but we really have to change that. We have to really open up the opportunities for young people and also women. And we really have to bring in the changes, especially the woman in STEM, the junior high school, the 15-year-old Japanese female students ranked as a second in the academic achievement. But when it comes to the entrance examination, many of them shift towards the liberal arts and only 17% for the STEM. In the US and in UK, 40% STEM. In Germany, the 25% in STEM, so that it is very limited in Japan who go into STEM. We really have to explore the opportunities for the women. Women in STEM area have to be really pursued in the future and that can really drive our future plans. 28 Nobel laureates in Japan were all male. And in a few years, I really hope that female Nobel laureates will be born out of Japan. So in that sense, the Japanese innovation will be driven by the use and also women and also women in STEM. And I must have created the environment so that they can thrive in the future. Adagato, thank you. Adagato, thank you so much, Minister. And I share also wish for a lot of women, Nobel laureates from Japan in the years to come. And I think you have such an important point when you underline the importance of startups and innovation and incubation when we know want growth back. And remember, if you look at 10 companies with the highest global market cap today, seven out of 10 did not exist 20 years ago. So many of the startups are the future companies that I guess will also dominate in Japan. We'll come back to you, Minister. Let's then, Minister, let's then move to Rwanda. There has been developed economies so far. Rwanda is a successful developing economy, but still a developing economy. We know that of the 15 trillion U.S. dollars that has been launched in stimulus, not happened since the Second World War, only 1% of the 15 trillion U.S. dollars in fiscal stimulus has been coming in developing countries. So, Minister Beata Habiari Mana, Minister for Trade and Industry in Rwanda. I know growth is back now in Rwanda. I think you cope well with the COVID. Of course, everything is relative, but where do you see the growth in the future for you country and for the African continent? Thank you. As you said, Rwanda is aspiring to become a middle country by 2035 and even an upper-cash middle income by 2050. And we think that from this pandemic, we have been learning a lot. And especially in terms of reboosting the economy and creating jobs, we have been focusing on a couple of areas, but I can share some of them we think should be the source of a future job. The first one is that we have seen with this pandemic that the approach for the trade should be through the liberalization. The liberalization, the investigation of trade as a country and also as a continent we fully believe in the African continent of free trade area. As one of the tools which can lead to have these regional value chains and it would take the countries moving from just a national level to really a regional and even a continental value chain. But we also think in the same time that with this pandemic have learned a little bit more and in a speedy way that the way African countries were considered as exporters or producers of what I would call like primary products and primary services should be shifting from that stage to added the value products and added the value services produced in those countries. And it's where as a country, as Rwanda you have decided to go through this pandemic through an accelerator for manufacturing. And when I say about manufacturing, we have been able to learn how to start with the essentials, what I would call like the must have products and services each country should have to be able to satisfy its population. And there it englobes also all the social and healthcare manufacturing. It comes to vaccines. We have learned a lot about through the pandemic and we think that this might be also a source. We have been experiencing it as a country and have been seen for the short term some fruits from those strategies encouraging the manufacturing area and what we are good at, like agribusiness, light manufacturing, construction but also the healthcare manufacturing field. But you also think that by talking about the manufacturing we can't let aside the green industrialization. Though the decision is one key element we fully believe that green industrialization is one of the key sources because we can't use to do the same thing like we did in the past. And we believe that Africa is also in a good position to have natural based industrialization and products. The other point when I would like to share with you is that as we look into a need for policy reforms we also have to think about materializing those policy reforms or having an operational instrument to materialize it. I will just give you an example like in Rwanda we have established what we call Kigali Innovation City which is a mix to use. It's a place with a master plan. It's an innovation city and it seeks to facilitate the development of Pan-African talents from all over the continent and act as a technology innovation hub. And these Kigali Innovation City is housing international universities, technology companies, biotech firms and we think that it will keep attracting technology companies from all over the world to Rwanda to create an innovation ecosystem and further as we wish in our plan to have a knowledge based economy. We think that we can't go without that. We can't go without that. And we believe that not just as Africa but also in other places which are still under development that might be some of the sources I can share with the panel. Thank you. Well, thank you so much, minister. We heard that there is some optimism even if we are very, very sober about the situation. We also are concerned of course that around the corner there can be some inflation pressure. We also know that the world is no more indebted than we have been in a long time. So maybe we should go to Switzerland and to you, Thomas J. Jordan, you're the head of the Swiss National Bank and I guess you might be a bit worried about future inflationary pressure but also the indebtedness but I guess there was no real alternative to a massive stimulus in the situation we were facing. So what keeps you up at night? Well, thank you Borke and Sadia for inviting me to this panel. It's really a pleasure to be here. Well, I will shortly come back to your question regarding inflation and also the debt level but let me say a little bit about possible headwinds for tomorrow's markets. And I believe one point that is really important is the division of labor between the private sector and the public sector. And if this division of labor is not optimal if it's suboptimal that could be a serious headwind. So the good cooperation between the public sector and the private sector is really important. I think it's key for our social, political and economic stability of our countries but at the same time and deeply convinced that the public sector should not run the economy. And we talked before where are those markets and I think the public sector is not particularly well equipped to deliver the next big thing. So the public sector should really concentrate on the framework, on the conditions for the economy but the businesses, the private sector is much better place to spot those important changes and also to identify these new markets. Of course, there is this possibilities of public-private partnerships. They play an important role but they have to design very well otherwise they can be really counterproductive and also limited competition. You heard that also before, the limited competition in the private sector. When I look at Switzerland, how we dealt with the economic crisis, we saw that the private sector and the public sector both played a very important role. The public sector responded very quickly also with I think bigger budget and also with increasing the balance sheet of the Swiss national bank but that was always all largely through the traditional function of the public sector. When it comes really to innovation, technical innovation, the private sector was much better and much more innovative. And a very good example is really the development of the coronavirus tests but also of the vaccines. So consequently, and I'm deeply convinced that that in order to look at these markets of tomorrow, government should avoid pursuing an industrial policy but really let the markets find the new equilibrium. And now let me come back to these economic conditions and to your questions regarding inflation and public debt. It's clear that also macro economic conditions play an important role. So low inflation and stable public finances but also financial stability is very important. So a sound fiscal position ensures that the government is able to fulfill the task all the time and also to react to new shocks. And price stability in my view is also very important. It's especially important for also lowering con groups in that perspective. What is the risk of having an increase in inflation? A big discussion at this moment. Personally, I'm not that worried at this moment. It's more likely to see a temporary increase but not yet really a big concern. But of course, we have to be very attentive to that. And when especially the output caps are narrowing everywhere and several order alluded to that already. So we have to be attentive to that and also see that the public debt remains on a sustainable level. And especially also a certain reaction of central banks if inflation will go up too quickly. So otherwise we will see a big increase in interest rates and that would be also counterproductive for the markets of tomorrow. So let me conclude just again saying that for the markets of tomorrow, we need structural reforms that ensure good framework conditions for firms and especially also foster entrepreneurship. Otherwise, I think it will be very difficult to achieve the objective of inclusive, innovative and sustainable economies. Thank you, Borges. Well, thank you so much, Shamas. I think this is a nice segue into you, Alan Bojani. I guess this is also good music in your ears. The governor of the central bank is underlining also the importance of the private sector here in the recovery. So where can the private sector lead and how can we make sure that the private sector also take responsibility for a sustainable, more inclusive growth when we are recovering from the crisis? Thank you. Thank you, Borges, for having me. And it's a pleasure to be here. And I totally subscribe to what I've heard so far. I think we have a big role to play as a private sector in making sure that we lead the way in terms of the transformation that's ongoing. We all agree that COVID has accelerated so many trends and they have reset a lot of the existing beliefs around the importance of fast-tracking liberalization, opening up to better trade and making sure that we are able to work together as a stakeholder economy rather than continue to drive for single siloed objectives. This new reality is more established than ever. The need for a sustainable economic growth to come back is there. The question is, growth is coming. It's a fact. Is it going to be sustainable? Is it going to be equitable? Are we going to channel it in the right way? Are we going to go? And at the end, they do more of the same. I deeply believe that we have a very important role to play. Different regions in the world have different priorities, although they are facing similar situations. So in certain geographies, we should continue to lead the way and continue to actually put in place the infrastructure that is needed to embrace the fourth industrial revolution to benefit from this acceleration of trends and let go of existing beliefs that have been to a large extent undermining real economic growth. In other parts of the world, I agree with what I've heard so far. We absolutely need to make sure that we are we're getting the right type of growth and we are keeping our eyes wide open in terms of establishing or I would say, getting to the right equilibrium between the private and the public sector and making sure that the new phase of that you are going into, although it has seen a very important or magnified role for the public sector in taking charge, making sure that this intervention is in a lot of way in regulating public life, regulating the economy's more than ever and individual's behaviors. What you can do at what you can do, although acknowledging the big economic impact, is something that you are letting go of and giving back the private sector, its fair share and role as a key player of making things happen and kicking a proper economic growth, making sure that you are reforming our economies to be really businesses that are operating in an environment where we're taking care of each and every stakeholder. It's not just about making money and the business of business is not only making, it's not only business, not only making money. There is more that we need to do and we need to make sure that all our stakeholders are finding what's in it for them in this new reality. Unless we do that, we are going to be less equipped than we have been. And I say, I'm aware of what they say, less equipped that we have been when we entered this pandemic and when this pandemic actually took us by storm. I would not take it for a given to say that, you know, we're better prepared. I wouldn't take it for a given to say, next time we'll do better. We don't know what next time is going to be. But the one thing is for sure, we need to be stronger together in order to face whatever the next pandemic is going to be about. Well, thank you so much, Alana. I think it's an important reminder that we have to build resilience, resilience in coping also with both predictable and more unpredictable crisis. Let me now turn to Raj Shah, President of Rockefeller Foundation and also someone that knows development really well, but also has great knowledge in the field between public and private sector, how to mobilize resources and think out of the box. So in this crisis, Raj, what are your observations? Well, it's great to be with you and I appreciate the prior comments. I think we've heard a number of comments that all illustrate one big point, which is that we are looking at potentially a decade of a great divergence where nations that have had high levels of access to vaccines and immunizations and have had the ability to invest 20 or 30% of GDP in recovery and stimulus in a manner that is fiscally manageable have been able to and will be able to imagine a fairly rapid economic recovery over the course of the next months and years. And at the same time, as we've seen from estimates from the IMF in particular, but also the World Bank, the nations that are lower income around the world that house potentially four or five billion people have simply not been able to do that. They haven't had the access to vaccines and we're seeing big waves of new variants cause significant consequences in India and Africa and Latin America now. They have not, emerging economies have done 6% of GDP as stimulus and recovery financing and developing countries have done only 2% compared to the 20 to 30% that wealthier nations have been able to do. So that's why the World Bank is estimating that as many as 500 million people will be pushed back under an expanded definition of the poverty line. And it's also why we should be concerned that we won't get a climate deal. We won't have the ability to do large scale global cooperation to address the challenges that face us if there's this massive divergence. I think the good news is there are opportunities for both public and private collaboration to come together and produce real solutions. We at Rockefeller have released just yesterday a global vaccination approach that has the support of all the public sector, but also all the private sector partners to achieve global herd immunity by the end of next year which would dramatically change the growth path for 70 to 80 countries around the world. We know that the International Monetary Fund has proposed potentially two rounds of $650 billion of additional special drawing rights allocations. If those are in fact passed through the G20 and through the IMF Board and then wealthier nations donate a few hundred billion dollars of their allocations to developing nations either in concessional lending or grants, we know that that several hundred billion dollars can make a huge impact in helping countries have the fiscal space to invest in a reasonable green and equitable recovery. And we frankly know that we have a major public-private global financing opportunity for the world's multilateral banking system to reimagine how we meet global climate needs through new forms of innovative public-private finance. And so these are the kinds of challenges that are necessary. They're actually affordable now that we know that nations can in fact borrow and spend at a time of deep crisis. It's just important that we approach this with the mindset that we're all in it together and that when wealthier nations start to recover and move beyond COVID, we don't forget that there are 70 to 80 other nations that could become a long-term reservoir of dangerous new variants of COVID-19 if we don't actually invest in some of these global partnerships. No, thank you, Raj. And thank you for your leadership on this. And thank you also for reminding us that the cost of inaction far exceeds the cost of action here as you were referencing IMF numbers that came out the other day, 50 billion investments in vaccination could give a yield of nine trillion. So what are we waiting for? So let's now go to the last speaker and we'll go back to the Prime Minister. After this, first, we do have Anila Denosh, a Minister for Economy and Finance of Albania. Can you listen to the discussion, Minister? We'd love to hear also our comments from Tirana. Thank you very much for this opportunity. COVID-19 has shown to be a major challenge for everyone and for every country's budget. Growth, debt, poverty levels have been questioned. And in Albania, we managed to maintain a good equilibrium, but we need to plan accordingly during this transformation period for a sustainable future. This transformation is driven mainly by technological change in agriculture and manufacturing being the key sectors for Albanian economic development and job creation. Direct and indirect support from government might be considered during this transformation period for SMEs, which needs this more than ever. However, we should not neglect that higher budget allocation for health and social government support schemes is also required. In Albania, there are several new opportunities for the future. First and above most, attracting new, new shoring projects, benefiting from diversification of international value chains and building up regional value chains. We are talking not only in Albania, but in Western Balkan countries for a much bigger market that each of our countries, we are talking about Western Balkan market and regional value chains should not be neglected. In this context, the Albanian government is responding through a set of measures, both locally and regionally, as I mentioned, and for a period that should exceed the next 10 years. Emphasizing innovation and know-how, knowledge-driven development is key. And to this context, I think professional education is a very key important element that we all consider during this transformation period. In doing so, the upskilling and reskilling of the workforce remain crucial. And it is also part of our plans to develop the education system in the next 10 years in Albania in a higher level, including and putting a lot of focus in ICT, as well as creating a lot of support schemes, grants and fiscal support schemes for development of ICTs in the near future in Albania. Further, we are also putting in extra efforts on STEAM education. And these are just examples to say that for us, young generation should have a future that looks towards digitalization in order that supports the transformation of SMEs, but government's role is key. And budget allocation for support schemes for SMEs, health and social schemes, is should be high in the agenda. Thank you very much. So, thank you, Minister. Thank you for that. We have now 10 more minutes to go. So I would like to have some short comments. I'll go to you, Prime Minister Alexander the crew. First, you listen to all the worries, but also some of the aspirations here. So there are also some silver linings, but it's so much that we have to deal with at the same time. So sometimes it feels like squaring a circle. We have to mitigate CO2 emissions. At the same time, we need to have growth. So we have to decouple that. Then you have to have decent jobs, but at the same time, you also have to secure also that there are opportunities for developing countries, but you also need to create jobs in developed countries. So there is really, really a very complex picture that we're faced with. So how do you feel like leading in such a crisis? And where do you feel that the silver linings are? And what are the areas where we really have to avoid making major mistakes coming out of this crisis in the stronger way? Well, it feels indeed like a huge endeavor. But fortunately, over the last 12 months, we've shown that we can tackle huge endeavors. And that's what we did in the development, the production and the distribution of vaccines. What we have done there is something which was unimaginable. 12 months ago, no one would have thought that you would have been able to do this. And we did it and we did it in a safe way. And we did it by having everyone bring to the table what their best at. And that was by listening to academia and using the work that had been done. As governments play the role we should play by providing stability and providing the volume that is required and making space for the private sector. And the World Economic Forum often talks about this multi-stakeholder approach. I think what we did in vaccines is an incredible showcase of what is possible if everyone brings to the table what their best at. And I think that is the golden learning out of the last 12 months. And this is the way how we will tackle climate change. And this is the way how we will tackle job creation in a digital space. And so many other of those endeavors that looked impossible, I think what you did with vaccines, it showed us the way. No, thank you so much. And I think you're so right. We developed vaccines in less than a year. Governments put funding on the table but the pharmaceuticals created these vaccines and also such a short time. I think you're right also about climate change. We have to also rely on new technologies and the private sector in that respect to make sure that we meet the targets for net zero. Deputy Prime Minister, as we cat Singapore, maybe you want to comment on the opportunities and the learnings? Well, I think one point which comes across all these obvious intervention is that is the importance of, I think Thomas puts it very well, that the optimal distribution of responsibilities between the public sector and the private sector. And the private sector is very good at innovation and innovation is a theme that comes across all our interventions. How do we encourage the private sector to continue to innovate the primary solutions? And I fully agree with Prime Minister Dikru that the vaccination story and the speed at which the vaccines will produce is quite a remarkable story compared to the flu a century ago. Now, the other aspect is that the role of the government and I think the role of government in creating the enabling conditions and even in the case of the vaccines, we must not forget that it was the huge investments that governments around the world have put into basic sciences into unraveling the genome into all the basic research that's going on in our universities that enable these vaccines to be developed and in the training of people. So I think that optimal division of labour between the government, which has to invest in basic research education in promoting a basic infrastructure while creating the conditions for the private sector to innovate, to be creative and to organise itself to get the work done is very critical. So I think in this ongoing work, we must ensure that government continue to play that role of building bridges across economies while the private sector can make the best use of these bridges. Thank you. Thank you so much, Deputy Prime Minister. Sadia Sahidi, you've listened to this conversation you and your team has created the whole job summit and laid the foundation for an insightful and hopeful learning full discussion on where the growth can come from in the future and how growth can also contribute in meeting the sustainable development goals and also be helpful when it comes to then mitigating CO2 emissions. So I'll give the floor to you, Sadia, to try to sum up this rich conversation in two minutes. No pressure. So I think one very clear takeaway is that first and foremost we still need to continue to tackle the health crisis. It is by no means over and until we beat this health crisis everywhere, we don't really manage to beat it anywhere. So that is one part that is absolutely clear and calls for vaccine equity came through the conversation. A second element is managing the headwinds and watching very, very carefully some of those headwinds including rising debt, including the possibility of rising inflation and ensuring that we are keeping a very close eye on those risks and managing them. The third element is where do we now go from this era of much bigger government that we've now entered? And I think we heard a couple of different views. We heard that we should not necessarily go down a direction of industrial policy in the way that we've thought of in the past but we also heard that there is a strong role for governments to create the right enabling conditions and be a sort of co-investor along with the private sector if we want to create those markets of tomorrow. And within those markets of tomorrow, there is enormous amounts of potential and possibility and the example of vaccines and how quickly they were created based on the long-term research and development from both government and business is exactly the type of example we need to look to in co-creating new markets of tomorrow. And finally forth, the need for not just the capital and not just the enabling conditions but also the human capital that is necessary for any of this to work and to ensure that this creates an inclusive and sustainable recovery. We will need the right kind of education, the right kind of skills, the right kind of inclusion, the right kind of chairs infrastructure and finally the right kind of safety nets. So that is essentially what I am taking away from this conversation and much of what the World Economic Forum will continue to provide a platform for in the next 18 months in especially to work with public sector leaders and private sector leaders to create national accelerators that address the topics of innovation, jobs, skills and inclusion. Thank you, Berge. No, thank you so much, Sadia. Thank you for great summing up. It has been also a very insightful conversation between the leaders. So thank you all for contributing and we're very pleased that you were able to join us and we're looking forward to seeing you all soon. Thank you so much from Geneva.