The meeting will be attended by top executives from yogurt maker Chobani, food giant Nestle's Nespresso unit, financial companies Bancolombia and Davivienda as well as language-learning website Duolingo.
The US vice president's push to spur regional economic growth will focus on six areas.
The city-state has in recent days imposed some of the tightest restrictions since it exited a lockdown last year to combat a spike in local COVID-19 infections.
The WEF's next annual meeting will instead take place in the first half of 2022. Its location and date will be determined based on an assessment of the situation later this summer, it added in a statement.
