The Effect of Attracting Domestic and Foreign Investors and Public Participation on the Sustainable Development of the City

Public participation refers to the citizens’ voluntary cooperation in planning for the societies and results in the multi-dimensional development of the cities. The individuals who are the residents of the region under investigation are the best advisors for the purpose of a more comprehensive planning. Such people are affected by decisions more than the others are; thus, they will be more responsible. As a result, the urban managers can utilize the expertise of such people at different levels of decision making process in order to accelerate achieving the economic sustainable development. Therefore, in addition to reducing the expenses for financing the urban projects, the motivation for investing by the private sector increases and, through developing the culture for participation in the society and gaining the trust of the citizens, the perspective on the future plans for investment will be clearly outlined. Nowadays, developing countries intend to encourage the foreign investors to invest in different projects via establishing secure economic situations and making a stable market. Foreign investment can improve the efficiency of the market and bring about entrepreneurship and economic dynamicity. In the current article, which is descriptive-analytic, method-wise and practical and applied, purpose-wise, via utilizing the literature on the related research, attempts are made to, firstly, define the public participation and its effects on sustainabledevelopment and, then, to investigate into the issue of attracting the domestic and foreign investors and the effect of public participation on increasing the attracting of capital, and, finally, to probe the role of the municipality of Tehran in the development of investment and public participation.