Singapore is hosting top executives of big global companies, marking its gradual return to normalcy and underscoring the contrast with Hong Kong, which is sticking with some of the toughest quarantine rules in the world
The Milken Institute's annual Asia Summit, run by billionaire Michael Milken's think tank, the Bloomberg New Economy Forum, and an event by sovereign wealth fund GIC attracted hundreds of executives vaccinated against COVID-19.
"Things develop, things evolve but evolve fast here in Singapore. And even with the kind of semi lockdown situation that we are currently in, if you come here, you still feel the vibe," UBS CEO Ralf Hammers said. Rooms at the plush 112-room Capella hotel in Sentosa island where a one-night stay costs at least $1,600 and which hosted the Bloomberg forum were sold out.
Despite all this, compared to Europe, Britain and the United States, Singapore still has tight COVID-19 restrictions, with dining out largely limited to two people and mandatory mask-wearing in public.By contrast, Hong Kong has followed Beijing's lead in retaining strict travel curbs to curb new COVID outbreaks, prompting warnings from international business lobby groups that the financial centre could lose talent and investment.
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