Chatham House: Independent thinking on international affairs

The Future of Cities 2012: Investment for Urban Growth

6-7 February 2012

Day 1 Monday 6 February
0930

Keynote Session
What Makes Cities Work?

  • Cities are the engines of economic growth, but what do they need to do to secure and maintain this growth over the long term? What makes a successful city?
  • Can the established major world cities compete with the rapidly emerging cities in Asia, Latin America and the Middle East? What investment do they need to do this?
  •   Do the established world cities and the emerging world cities have different or similar needs and investment requirements?
  • How can cities learn from each other?  What adaptations are needed to make successes in one city work in another?

Chair
Ricky Burdett
Professor of Urban Studies
Director, LSE Cities and Urban Age
London School of Economics and Political Sciences

Keynote Speakers
Joan Clos (on the record)
UN Under-Secretary-General & Executive Director
UN-Habitat

Edward L Glaeser
Fred and Eleanor Glimp Professor of Economics
Harvard University

Dr Cheong Koon Hean (on the record)
Chief Executive Officer
Housing & Development Board, Singapore

Questions and discussion

1050    Refreshments


Session One
Metropolitan Economic Development

  • Since the financial crisis, many cities are looking to reinvent their economies. How can this be done? What are the new markets that metropolitan areas must address?  What are the new ingredients for success?
  • Cities specialize in order to attract investment and business. What makes a ‘hub’ successful?  What can policy-makers do to encourage specialization and clusters?
  • What are the successful frameworks and incentives to attract business to stay, relocate or expand?
  • How can cities raise the rate of enterprise and business formation in order to create jobs and foster local growth?
  • In order to operate efficiently, cities need good transport infrastructure and connectivity. How can the key elements of connectivity be identified?
  • What role do cities have in supporting education and training to enhance the skills base?
  • What are the key factors that enable cities to be open to the global economy?
  • Should cities’ economies be planned centrally or should they be treated as  free markets? 

Chair
Dame Judith Mayhew Jonas DBE
Chairman, London&Partners and
Member, Chatham House Panel of Senior Advisors

11.30 Keynote Speaker
Vicente de Paula Loureiro (on the record)
Undersecretary for Metropolitan and Regional Urban Planning
Government of the State of Rio de Janeiro

Speakers
Jordi William Carnes
Former Deputy Mayor
Barcelona

Christoph Koellreuter
Director and Delegate of the Board
Metrobasel

Sir Peter Rogers
Advisor for Regeneration, Growth and Enterprise
Greater London Authority

Venkie Shantaram
Partner
McKinsey & Co

Questions and discussion

1340 Lunch

  • Can hosting major events transform cities and if so, how?

1440
Andrew Altman
Chief Executive
Olympic Park Legacy Company

In conversation with

Greg Clark
Senior Fellow
Urban Land Institute

1515     Refreshments

Session Two
Funding city development: challenges and solutions

  • What are the relative roles and importance of city fiscal powers versus transfer payments and national policies in shaping how investment is made in cities?
  • What are the respective roles of the public and private sector in funding city development?  When should national governments be active players and when should they act as enablers or regulators?
  • Nation states wish to appear fiscally robust and to control borrowing. Conversely, cities compete to show how much investment they are attracting. Is there a solution to this tension?
  • How do high levels of city government debt impact on those cities’ ability to promote investment?
  • Should national governments think about their cities as a system of cities and portfolio of investment assets, or should they address the needs of each separately?

Chair
Stephen Barter
Chairman, Advisory Board
Oxford Programme

1545  
Abha Joshi-Ghani
Manager, Urban Development and Local Government Unit
The World Bank

Jaroslaw Kochaniak
Vice Mayor, Warsaw and
Vice President, Eurocities

Joe Montgomery
Chief Executive, Europe
Urban Land Institute

Rosemary Feenan
International Director, Global Research Programmes
Jones Lang LaSalle

Questions and discussion

1730  End of day one and drinks reception hosted by Jones Lang Lasalle.


Day Two Tuesday 7 February
0930

Session Three
New Investors and New Funding Models

  • In an increasingly competitive environment, how can cities capture long-term capital? Can cities increase their attractiveness to investors by limiting or sharing risk?
  • Who are the new investors and what are they looking for?
  • What are returns on urban investments? (housing, commercial property, infrastructure, transport)
  • What new instruments and models are emerging? What roles are they playing in investment portfolios?                             o Leveraging public land
    o Tax Increment Financing
    o ‘off balance sheet’ public investment vehicles
    o New models for housing
  • Is there a greater role for urban assets and infrastructures in the portfolios of private investors?
  • Can better management of assets by public bodies improve returns?
  • In developed economies, Public Private Partnerships are widely discredited.  What will replace them?  Conversely, emerging economies are adopting them.  What lessons have been learned?

Chair
Tony Travers
Director, LSE London
London School of Economics

Case Studies
Edinburgh
Dave Anderson
Director of City Development
Edinburgh

South Africa
Lael Bethlehem
Director, Real Estate Investment Management
Standard Bank

Mumbai
Uma Adusumilli
Chief, Planning Division
Mumbai Metropolitan Region Development Authority

Johannes Schmidt
Chief Executive Officer of Project and Structured Finance, Infrastructure & Cities and Industry
Siemens Financial Services GmbH

Questions and discussion

1125    Refreshments

Session Four
Governance and Leadership: impact on investment

  • What are the key roles of the city leader in attracting urban investment?
  • Where has leadership at city and national levels on investment in cities contributed to national prosperity?
  • What governance and political systems create the best conditions for investment?
  • What kinds of investment tools and instruments are politically acceptable and attractive to city leaders? Which ones are more difficult to use?
  • The assets that make nations competitive are in cities.  How can national governments support cities’ investment prospects and plans?

1155 High level roundtable

Chair
Greg Clark
Senior Fellow
Urban Land Institute

Dr Cheong Koon Hean
Chief Executive Officer
Housing & Development Board, Singapore

Jaroslaw Kochaniak
Vice Mayor
Warsaw

Jordi William Carnes
Former Deputy Mayor
Barcelona

Johannes Schmidt
Chief Executive Officer of Project and Structured Finance, Infrastructure and Cities & Industry
Siemens Financial Services GmbH

1315    End of conference and lunch

© The Royal Institute of International Affairs, 2011