Co-Chairs' Statement
If urban economy is at optimal functioning capacity according to the New Urban Agenda and Sustainable Development Goals, we can expect that the executive sector move well too. Urban Economy is the adoption of an approach to urban development, and when we discuss financial resources of a city, it is the principles a city is committed and the importance of it to said city. Perhaps prior to discussing plans for urban development, it is vital to first focus on urban economy and to come up with the appropriate strategies that align with international standards such as SDGs and NUA.
Urban Economy and Municipal Finance is an interdisciplinary subject matter that tackles development matters, and is a fundamental component of the development engine. Urban Economy is the output of urban management; it is the engagement of urban lives and urban management issues. Urban economy is a highly contextual matter, and it is rooted in the concept of the urban context. It can be concluded that any changes in urban economy could bring changes in urban management approaches and vice versa and it impacts the quality of life in its participants. These facts display the importance of urban economy.
Innovation plays an integral role in promoting suitable economic models. In other words, it is the projects that define the approaches. However, urban Economy is based on approaches and plans. The workspace of municipalities is project-oriented rather than plan-oriented. Therefore, a comprehensive plan must be devised to shape these programs worldwide so municipalities have precedent to follow. This is the primary role of UN-Habitat. UN-Habitat has the ability to define special innovations on urban economy, which can be formed based on technology. This can include small residential complexes, small cities, towns or parts of a city. According to new technologies, it is important to come up with accurate assessments of cities to determine their capacities, researching sustainability of resources and precise algorithms that provide precise depiction in relation to the country’s economy and local capacities. For this to be achieved it requires good planning and networking so cities may benefit from innovations. This will provide a clear picture of their expenses and incomes and then turn their capacities into economically valuable assets presentable to banks and financiers.
It is, therefore, imperative to establish a dialogue between the two major stakeholders; municipalities and banks. Urban Economy Forum and UN-Habitat was designed to create the space in which the dialogues between major stakeholders in urban economy and municipal finance can take place. The handbook titled “Urban Economy for City Leaders” which is in alignment with our previous cooperation with UN-Habitat for the handbook titled “Finance for City Leaders” will be a major component in the shaping of topics and discussions. We need to address urban economy in a collective way and UN-Habitat shall be steering it and we urge countries to allocate necessary financial resources for city assessments. The approach allows for changes for a sustainable urban economy, realization of sustainable development goals and the beginning of joint activities with banks and financial institutions. It is a vital initiative in creating a global effective network.
Reza Pourvaziry Marco Kamiya
Co-Chair UEF2019 Co-Chairs UEF2019