You are here: Home Knowledge Base How to Build Sustainable Cities for the Next Urban Billion? Virtual Library The Promise of Enterprise Cities
Symposium 2015

Virtual Library File - The Promise of Enterprise Cities

The Challenge

By 2050 the number of people living in cities will reach 6 billion. Existing cities will not be able to accommodate an estimated 2 billion people who will migrate from the countryside to urban centers ...

By 2050 the number of people living in cities will reach 6 billion. Existing cities will not be able to accommodate an estimated 2 billion people who will migrate from the countryside to urban centers seeking employment, education, and a better living standard. How to build the next 500 sustainable cities created by this rampant urbanization is among the greatest challenges of this century and it also represent one of the greatest opportunity to address a multitude of issues related to the environment, economic development, social advancement, medical infrastructure, and education.

The process of globalization and increased rates of urbanization are forcing countries to rethink their approach to economic policy. Widespread reluctance to implement comprehensive reforms and burdensome legal and regulatory regimes are impediments to economic growth and entrepreneurship. Enterprise Cities, akin to free trade zones, are one possible solution to this problem. These are special jurisdictions with investor-friendly legal and regulatory policies that create the pre-conditions for entrepreneurship and stimulate competition based growth.