G7 Summit Opens on the 13th... "MS and BlackRock CEOs Also Attending"

From the 13th to the 15th (local time), CEOs from major companies such as Microsoft (MS) and BlackRock will participate in the Group of Seven (G7) summit held in Italy.

Bloomberg News reported on the 12th, citing sources, that major company CEOs including Satya Nadella, CEO of MS, and Larry Fink, Chairman of BlackRock, were invited to an event jointly hosted by Italian Prime Minister Giorgia Meloni and U.S. President Joe Biden during the G7 summit.

Their attendance at the G7 summit is to support Prime Minister Meloni's plan to promote investment in developing countries. Among Italian companies, energy firms ENI SpA and Enel SpA, represented by Claudio Descalzi and Flavio Cattaneo respectively, were included on the invitation list.

Prime Minister Meloni has been promoting a development plan for the African continent as part of a strategy to prevent illegal immigrants from flooding into Italian waters from Africa. According to the news agency, he plans to unveil projects related to food, climate, and energy security at this G7 summit. These include developing new financial instruments for African continental growth and plans to promote specific agricultural projects such as coffee cultivation.

The G7 countries have also been striving to increase investment in Africa in response to China, which has expanded its influence in the region over recent years through the Belt and Road Initiative.

At this G7 summit, measures to support Ukraine's reconstruction using frozen Russian assets will also be discussed. John Kirby, U.S. White House National Security Communications Coordinator, said at a briefing on the 11th, "We will announce measures to release frozen Russian assets to help Ukraine's reconstruction," adding, "This will be decided unanimously by the G7." Additionally, the G7 is expected to release a statement expressing concern over China's overproduction issues.