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MANILA, May 15 (APD) – Philippine President Rodrigo Duterte said the Chinese President Xi Jinping’s “Belt and Road Initiative” complements his government’s “Build-Build-Build” Infrastructure Plan.
Speaking to Filipino reporters in a briefing Sunday night at Grand Hyatt Beijing Hotel, he cited the infrastructure interconnectivity as key target of the Belt and Road Initiative.
He arrived late Saturday night in Beijing to attend the Belt and Road Forum for International Cooperation.
In a statement from Malacanang Palace at midday today, Department of Foreign Affairs’ official Evangeline Ong Jimenez-Ducrocq said President Duterte is scheduled to speak at the leaders’ roundtable about generating growth and tackling economic challenges.
She added the Filipino leader will also talk on clean and green infrastructure later in the day.
Trade and Industry Secretary Ramon Lopez said the One Belt, One Road can be maximized in the context of Philippine development goals including the current infrastructure plan to attract more investments.
Lopez downplayed fears the Philippines’ infrastructure program would utilize loans which would get the country into a debt trap.
He explained some 80% of the loans will come from domestic funders while the balance would come from foreign sources.
Mr. Lopez said it is important for the government to pass the tax reform measures to finance infrastructure projects.
Defense Secretary Delfin Lorenzana said insurgency and criminality in Southern Philippines may be reduced should employment be generated from the job intensive infrastructure program.
Presidential Spokesperson Ernesto Abella said the “Belt and Road Initiative touched on peace and cooperation, inclusivity, mutual learning and mutual benefit.”
(ASIA PACIFIC DAILY)
