Pressure is building with less than three months until the Asia-Pacific Economic Cooperation summit—a major trade conference better known as APEC—convenes an A-list roster of political figures and business leaders in San Francisco.
Almost two dozen heads of state, including President Joe Biden, are expected to attend the weeklong event in mid-November, as well as 1,000 CEOs and hundreds of foreign media representatives. The eyes of the world will be focused on San Francisco’s ability to provide a safe and hospitable environment for the multinational mullet—business up front, with a fair share of partying in the background.
In total, the city is expecting some 30,000 delegates from 21 member economies during the week of Nov. 12 to 18.
From a local perspective, APEC offers the city a unique opportunity to rebrand itself on the global stage. However, sources tell The Standard that the race to get all ducks in a row will be hairy. Below is a breakdown of some of the biggest issues.
Money Talks
The weight of expectations will fall squarely on Mayor London Breed and Maryam Muduroglu, the city’s chief of protocol, who are in charge of raising millions in private donations to fund a series of events.
San Francisco officials announced an ambitious goal of raising $20 million for the week of events starting Nov. 12, including a welcome reception, a press soiree at City Hall and a “Unity Concert” at Chase Center featuring a “marquee artist.” But that fundraising figure currently stands at $7.1 million, Muduroglu said. The White House actually pegged San Francisco’s tab for APEC at $15 million, but the Mayor’s Office decided to tack on an extra $5 million “to do the job well.” At a Salesforce Tower fundraiser in June, Breed upped the ante and said she was hoping to get as much as $25 million.
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The private fundraising—made possible through an exemption to the city’s ordinance restricting behested payments—takes the form of various sponsorship packages between $125,000 and $1 million, with sponsors offered a range of perks in return. Getting to that final goal—regardless of whether it’s $15 million, $20 million or $25 million—will require a furious push in the weeks and months to come.
Your Move, Chief
The mayor’s political fate between now and November 2024, when Breed faces reelection, likely won’t be decided by a successful APEC. But judgment will certainly be cast on the performance of Muduroglu. She is firmly in the spotlight as the successor to the late Charlotte Schultz, an iconic socialite who held the chief of protocol role for decades.
One of Muduroglu’s first big decisions—hiring the Krinsky Company as a consultant to handle project management, marketing and event management for APEC—has received scrutiny. The firm’s work is well regarded within the health care technology industry, but that’s a different animal from an international economic and political summit.
Muduroglu told The Standard in a phone interview Monday that she first became aware of the company from its past work with her husband, Oran Muduroglu, a wealthy health care tech executive. She added that the Krinsky Company won a competitive bidding process out of three midsize firms and the company will be paid via private donations.
Preparations for APEC are expected to gather steam after a round of associated meetings in Seattle conclude on Aug. 21.
Staying on Message
Krinsky’s marketing plan will focus on San Francisco’s status as the center of innovation, a place where emerging ideas begin, according to sources familiar with APEC preparations. And it just so happens that one of the city’s leading pro-employer groups, Advance SF, intends to roll out an almost carbon-copy advertising campaign in the weeks to come.
Advance SF’s partnership with the city on APEC has yet to materialize, but officials for the organization said they intend to roll out a broader marketing push that focuses less on APEC and more on changing the narrative about the city. The goal is to make it clear that San Francisco is the center of innovation and a positive place to do business. Everyone is playing nice for now, but San Francisco is famous for its political phone-booth fights, and there appears to be tension over who will get credit if the event is a success—or the blame if things go awry.
Meanwhile, other businesses and advocacy groups are expected to launch parallel initiatives around APEC.
GlobalSF, a nonprofit promoting foreign investment in San Francisco, is hosting a side conference called “The Future Starts in California,” featuring state Treasurer Fiona Ma and Assembly API Legislative Caucus Chair Evan Low. The conference will cover state investment opportunities in sectors such as AI, food and food security, energy and climate efforts, ending with a reception at trendy Fang Restaurant in SoMa.
Katy Tang, the city’s director of the Office of Small Business, is also working with neighborhood leaders to curate shopping and dining experiences for APEC delegates in their districts through an initiative called “A Perfect Day.” The goal is to showcase San Francisco’s diverse cultural corridors and small businesses citywide.