The 41st World Diamond Congress opened on July 13 at the Park Collection Hotel in Singapore’s Marina Bay district, with representatives from the global diamond trade, industry organizations and diamond-producing countries attending the opening ceremony.
Welcoming delegates, Fabio Cascapera, Chair of the Congress Organizing Committee and President of the Diamond Exchange of Singapore (DES), reflected on the industry’s evolution since Singapore last hosted the World Diamond Congress in 1988.
“At that time, I was a young man, full of confidence about the future of our wonderful industry. While I am not that young anymore today, and certainly not as light on my feet, I am still passionate about diamonds and thankful for what diamonds have done for all of us here,” said Cascapera. He encouraged the younger generation to remain committed to the industry and “not let anyone discourage you.”
Outgoing World Federation of Diamond Bourses (WFDB) President Yoram Dvash acknowledged the efforts of Cascapera, DES and the organizing committee in hosting the event. “Who thought that such a small bourse could stage such a great and magnificent event!” he said.
Ronnie VanderLinden, President of the International Diamond Manufacturers Association (IDMA) and President of the World Diamond Council, identified consumer demand as the industry's primary challenge. “We became focused on explaining natural diamonds. We became focused on defending natural diamonds. We became focused on proving what natural diamonds are. What we stopped doing was making people want them. That is the challenge,” he said, adding that the industry must once again create consumer desire for natural diamonds.
Government representatives from Botswana and Angola also addressed delegates. Botswana’s Minister of Minerals and Energy, Bogolo Joy Kenewendo, and Angola’s Secretary of State for Mining, Jânio da Rosa Corrêa Victor, invited industry participants to invest in their respective diamond sectors.
Kenewendo said the future of natural diamonds depends on how effectively the industry communicates its value to future consumers. “The next chapter of the natural diamond story will not be written by geology alone. It will be written by leadership. It will be written by innovation. It will be written by partnership. And it will be written by our collective ability to ensure that future generations understand not only what natural diamonds are, but what they mean,” she said.
