Local Economic Development
LOCAL economic development (LED) is a bottom-up approach to creating wealth and jobs. It refers to the dynamics of enabling economies happening in certain territories. The global contribution of LED is a diverse and localized economy that is relatively robust to changes in international financing systems. The main challenge for local and regional governments is to increase and diversify the productive base. Currently, voters’ main expectation is on creating and preserving employment.
The involvement and leadership of local and regional governments (LRGs) in planning, implementing and coordinating strategies of local economic development is crucial to promoting sustainable economic development, and the international community must acknowledge this.
Under this framework, UCLG ASPAC, together with UCLG World, the International Labour Organization (ILO) and the Federation of Sri Lankan Local Government Authorities (FSLGA) organized a Workshop in Negombo, Sri Lanka, from 9 to 12 December 2015 to begin addressing the SDGs at the local level, with a specific focus on SDG 8 around Local Economic Development (LED). The meeting gathered Southwest Asian members and partners and experts from the Netherlands, the Philippines, Spain and South Africa.
The result, a first action plan for the learning agenda around SDG’s for Local Governments of participating cities and Local Government Associations, as well as a report on Local Economic Development and Local Authorities in Asia. All outcomes of the event are based on local knowledge, practices and identified needs, as the participants were political and technical representatives of Local Authorities, Local Government Associations and Training Centres for Local Governments from several Asian countries (Sri Lanka, Bhutan, India, Japan, Maldives, Nepal, Pakistan, Philippines and South Korea).
UCLG ASPAC also conducted the LED Conference in Hanoi in 2014 and endorsed the establishment of the Asia Pacific LED Network.