He World Government Summit (WGS) The organization, in strategic alliance with KPMG, has launched the “The future of cities and urban economic growth” report, which addresses the future challenges that cities and the urban economy will face, and reviews innovative solutions to address them.
The report advocates the “15-minute city” concept, promoting easy access to essential services to improve the quality of urban life.
The “Future of Cities and Urban Economic Growth” report is designed to provide city leaders and stakeholders with actionable insights into the evolving urban landscape. It addresses a spectrum of challenges facing cities today, spanning rising energy costs, skilled labor shortages, income disparities, as well as climate change, cybersecurity and others.
The report focuses on important aspects related to the future of cities, including physical infrastructure, low-cost housing solutions, small businesses and inadequate green spaces. It also reviews several innovative solutions discussed by the World Government Summit in its previous editions. These solutions include building strong urban identities that attract investment and talent, and the best methods for selecting and implementing smart city technologies to serve community interests.
Mohamed Yousef Alsharhan, Managing Director of the World Government Summit Organization, He highlighted that the future of cities is a crucial pillar of the WGS Organization’s agenda. This is due to its important role in shaping the characteristics of future societies amidst the considerable challenges and rapid changes driven by unprecedented technological and scientific advances that the world is currently experiencing.
“The ’15-minute city’ concept represents a fundamental shift in urban design philosophy, encouraging a community-focused approach where access to vital services and amenities is within walking or cycling distance. This model “It not only improves comfort but also significantly transforms the way we experience and live in cities,”
Chucrallah Haddad, Partner, Head of Advisory, KPMG Lower Gulfsaying,
“Cities serve as a hub for innovation and progress, facing a multitude of challenges that demand complex solutions. The Future of Cities report not only identifies these challenges but also offers viable strategies for cities to thrive in the face of constant disruption, adopting technological advances, prioritizing the well-being and inclusion of its inhabitants.”
The “Future of Cities and Urban Economic Growth” emphasizes fundamental factors such as the need for innovation, sustainability and inclusion in successful urban initiatives, along with the importance of fostering vibrant municipal identities to attract investment, businesses and talent.
A key aspect highlighted in the report is the delicate balance between technology deployment and privacy, advocating a focus on community access and ethical use of digital tools to avoid cybersecurity risks. Integrating “future literacy” and sustainability as core principles into legislation and business practices is a crucial recommendation, empowering cities to navigate complexity and build resilience in the face of external changes.
The report highlights the leadership of cities in the Gulf region in leading technological innovation. It also highlights the valuable lessons that its advanced experiences offer for cities around the world.
Delving into global case studies, the report also highlights the importance of managing customer expectations in supply chain management, the benefits and costs associated with reshoring and nearshoring, and avenues to finance sustainable supply chains. and nearshoring initiatives.
The United Arab Emirates National Food Security Strategy stands out as an example of effective supply chain management, with innovations such as high-rise vertical farms using hydroponic and aquaponic techniques that can produce 100 times more produce than traditional farms. The UAE aims to increase local food production by 30 to 40 percent within ten years and become a leading global hub for innovation-driven food security by 2051.
The “Future of Cities and Urban Economic Growth” emphasizes the importance of adaptation and innovation, where successful cities are adopting resilience, sustainability, inclusion and emerging technologies as key pillars for their initiatives. It highlights the cultivation of a strong municipal identity and a vibrant cultural environment, which serves as a magnet for businesses, investments and young talent.
News source: Emirates News Agency