{"id":102407,"date":"2017-05-15T03:07:34","date_gmt":"2017-05-15T07:07:34","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=102407"},"modified":"2017-05-15T03:07:34","modified_gmt":"2017-05-15T07:07:34","slug":"chinas-belt-road-initiative-complements-build-build-build","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/15\/chinas-belt-road-initiative-complements-build-build-build\/","title":{"rendered":"China\u2019s Belt & Road Initiative complements Build-Build-Build"},"content":{"rendered":"
\"The<\/a>
The Belt and Road Initiative spearheaded by Chinese President Xi Jinping as a platform of international cooperation and development among nations complements the Duterte administration\u2019s Build-Build-Build-Infrastructure Plan. (Photo: President xi jinping\/ Facebook<\/a>)<\/figcaption><\/figure>\n

BEIJING\u2013The Belt and Road Initiative spearheaded by Chinese President Xi Jinping as a platform of international cooperation and development among nations complements the Duterte administration\u2019s Build-Build-Build-Infrastructure Plan.<\/p>\n

This was the message conveyed by the President\u2019s men before the members of the media who attended a briefing at the Grand Hyatt Beijing Hotel on Sunday evening.<\/p>\n

President Rodrigo Roa Duterte arrived in China\u2019s capital city, Beijing on Saturday to attend the Belt and Road Forum for International Cooperation.<\/p>\n

\u201cHe (PRRD)\u2019s being invited to speak two times tomorrow (Monday) during the leaders\u2019 roundtable. Once in the morning, where he will be speaking about generating economic growth and tackling economic challenges. The second will be he\u2019ll speak again in the afternoon on clean and green infrastructure,\u201d Department of Foreign Affairs (DFA) official Evangeline Ong Jimenez-Ducrocq said.<\/p>\n

Infrastructure interconnectivity is a key target of the Belt and Road Initiative.<\/p>\n

Trade and Industry Secretary Ramon Lopez mentioned that the One Belt, One Road can be maximized in the context of Philippine development goals, including the Build-Build-Build Infrastructure Plan to attract more investments.<\/p>\n

Defense Secretary Delfin Lorenzana shared the same sentiment adding that the insurgency and criminality in the South are driven by lack of economic opportunities.<\/p>\n

\u201cAnd if we can bring in the infrastructure development in the South, it will be included in this One Belt One Road, the investment will come, then maybe we can address some of the problems, economic problems in the South and improve the security situation in the country,\u201c Lorenzana underscored.<\/p>\n

Also, Lopez brushed off worries that the Build-Build-Build Infrastructure Plan would be fueled by loans from China that would later put the country into a debt trap.<\/p>\n

\u201cEven as we speak of \u2018yung Build, Build, Build and financing that growth and the infrastructure program, we are not really talking of loans na heavy. It will be budgeted… And in fact, in terms of loans, ang pino-project doon, 80 percent local, domestic loans. And only 20 percent ang foreign loans. So all these discussions are premised on ano ba talaga \u2018yung plano rin natin and we\u2019ve presented already those plans. So hindi po tayo maiipit doon,\u201d Lopez assured.<\/p>\n

The DTI Secretary then took the occasion to cite the importance of passing the tax reform legislation of the Duterte administration.<\/p>\n

\u201cThat\u2019s the reason why it\u2019s important to pass the tax reform program\u2026 Yun din \u2018yung paggagamitan at gagamitan ng infrastructure budget. Kaya nga very important \u2018yung tax reform program kasi internally generated \u2018yung funds to support the build up,\u201c Lopez explained.<\/p>\n

Senator Alan Peter Cayetano noted that the Philippines, owing to its archipelagic nature, has to improve its infrastructure and inter-connect, with or without this Chinese initiative. However, the Belt and Road Initiative gave international context to the infrastructure plan of the Duterte administration.<\/p>\n

\u201cWe have to really build, build, and build. But with the build, build, build also of the Belt and Road, it opens us up to other markets,\u201d Cayetano further said.<\/p>\n

The Belt and Road Initiative is, indeed, more than infrastructure connectivity. It has become enlarging market base, diversified financing schemes, people-to-people connectivity, among others.<\/p>\n

\u201c(Belt and Road Initiative) touched on peace and cooperation, inclusiveness, mutual learning and mutual benefit,\u201d Presidential Spokesperson Ernesto Abella said.<\/p>\n

The One Belt, One Road Initiative originated from the ancient Silk Road linking Asia and Europe through trade from Xi\u2019an in China, Central Asia, Middle East, Europe and Russia and the maritime Silk Road started from Fujian through the South China Sea, Indian Ocean, Red Sea, and the Mediterranean, stopping in Africa along the way.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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