LBR LBO Infrastructure Summit 2015 – “Making Colombo a Globally Competitive City” – 3rd & 4th No...

Description

INVESTMENT IN INFRASTRUCTURE UNLOCKS GROWTH

Infrastructure projects can generate significant economies of scale and have a wider impact on growth. New and updated infrastructure can generate productivity gains (Fries et al., 2012) and enhance Total Factor Productivity (TFP) by lowering transaction costs and allowing more efficient use of inputs (Bottini et al., 2012).

Built Environment in urban areas is considered one of the vital drivers of economic development. Built environment facilitates rapid development of urban areas -where the key economic activities tend to take place. The relationship between urbanization and income (GDP per capita) is very strong for many developing countries.

CITIES TAKING THE CENTER STAGE

Empirical research suggests that economic growth and urbanization go hand in hand and there is a general recognition that in the 21st century, cities are moving to the center stage. The world is experiencing an unprecedented urbanization and the cities in emerging markets are propelling the most significant economic transformation in history.

Cities, furthermore, are fast coming to function as the basic motors of the regional and global economy. Indeed, it is argued that there is a new form of global city-centric capitalism where cities operate as territorial platforms for much of contemporary economic activity. Cities are said to thrive on the creativity, productivity and innovation-enhancing effects of dense and multifaceted urban environments that are simultaneously embedded in worldwide business networks (Scott, 2001). Thus, it’s the globally competitive cities that will make nations competitive in global landscape, not the pastoral rural.

Developing nations are aspiring to build major urban centers that are globally competitive, serving as magnets of growth, crucibles of innovation, and most importantly, thriving places full of desirable, livable spaces, while battling disincentives of scale. There is a growing global investor appetite for investing in opportunities around urbanization and emerging global cities.

World class built environment, ability to attract capital; attract, nurture and retain talent and inventive capabilities to crate new value characterize globally competitive cities.

Colombo has a high potential to become a global city. The geographic location and close proximity to maritime sea routes are strategic advantages. Its geo-location is an exploitable asset in the global economy. However, It is not only the access to “Silk Road” that global cities compete with each other now, but for capital, talent and ideas.

Presently Colombo is ranked 102 (out of 120 cities) in Global Competitive Index compiled by The Intelligence Unit of The Economist. According to the current projections Colombo will slip to 108th position in next ten years; behind a host of Indian (Ahmadabad, Chennai, Pune, Hyderabad, Delhi and Mumbai), Middle Eastern (Dubai, Doha, Abu Dhabi) and Far Eastern (KL, Singapore, Bangkok, Manila and Jakarta) cities.

If these projections to be proven wrong and Colombo to move up the ranking and recognized as a globally competitive city in the knowledge driven and highly networked global economy, the city needs to build new features and capabilities.
Going by the “The Economist” study the city needs to improve significantly in the following areas.

• Economic strength
• Physical capital
• Financial maturity
• Institutional character
• Social and cultural character
• Human capital
• Environment and natural hazards
• Global appeal

This would demand harnessing the power of cross boarder flow of capital, knowledge, talent and ideas. Developing policy frameworks that will facilitate building new capabilities, broader connectivity and engagement with regional and global economies.

The inaugural LBR LBO Infrastructure Summit 2015, themed as “Making Colombo a Globally Competitive City” will bring together industry representatives, investors and financial intermediaries, development experts, policy makers, researchers and academic to discuss some of the vital issues in six different insightful and thought provoking sessions.

PURPOSE

LBR LBO Infrastructure Summit will:

1. Develop synergy and symbiosis among multiple stakeholders in infrastructure development eco-system: relevant ministries and agencies government of Sri Lanka, investors, multilateral financial institutes, developers, contractors, consultants, technology partners, research institutes and universities, industry chambers and other relevant parties.
2. Provide a platform to discuss and debate opportunities and challenges in infrastructure development in Sri Lanka.
3. Aim to positively influence government policy

TARGET AUDIENCE

Senior level representatives from the following types of organizations are expected to attend the Summit.

1. Government: Relevant agencies and scientific institutions (UDA, RDA, CECB, ICTA, CEB and utility providers, SLPA, Civil Aviation, Military, Coastal Conservation, Finance Ministry, Treasury, Central Bank etc )
2. Universities and research institutions
3. Developers, investors, service providers, architects and urban planners, logistics and transport and logistics companies
4. Multi-lateral financial institutes, development agencies,
5. Commercial banks, investment banks, Banks, insurance and other financial services
6. Technology companies
7. Media
8. Various other related service providers

Request a Registration Form

Sessions & Speakers

The Summit will have six sessions. Each session will contain a keynote address followed by a panel discussion.

The sessions are:

Day 1 – Tuesday 3rd November 2015 (TBC)

1) Inauguration keynote and panel discussion Inauguration Keynote “Vision, innovation, Economic Dynamism, Governance and Infrastructure – The Pillars of Competitive Cities”
Day 2 – Wednesday 4th November

2) “Making Colombo a Global City: Opportunities and Challenges ”
3) “Developing a Facilitating Policy Framework”
4) “Investment Strategies and Business Models for Building a Global City”
5) “Creating a World Class Transportation System in Colombo”
6) “Leveraging Technology to Make Colombo a Smart City”

Gallery

Images of LBR LBO Infrastructure Summit 2015 will be uploaded after the event is commenced at 6 PM Sri Lanka time (12.30 GMT) on Tuesday 3rd & Wednesday 4th November 2015