‘Dutertenomics’ goes to China

business May 16, 2017 01:00


PHILIPPINE economic managers were to pitch the Duterte administration’s infrastructure programme to Chinese officials yesterday in a bid to further boost interest among Chinese firms, months after President Duterte brought home multibillion-dollars worth of pledges from the private sector here.

Philippine Ambassador to China Jose Santiago Santa Romana told reporters on Saturday that cabinet officials would be in Beijing to talk about Dutertenomics, which highlights the government’s ambitious infrastructure projects.

While a separate event in itself, this will coincide with the last leg of the two-day Belt and Road Forum (BRF) for International Cooperation that is also being held in Beijing. President Duterte is participating in the BRF.

Sant Romana said the Philippine Embassy in China had received a number of inquiries from Chinese firms asking about the business environment in the country. While he could not give out their names, he said that these firms were interested in pursuing projects in the Philippines.

“We have asked them to listen to the cabinet secretaries because this is actually the answer to their questions. There will be a number of Chinese companies that will participate in that forum,” he said.

President Duterte made a state visit to China in October last year, signaling his administration’s shift in foreign strategy as it now edges closer to its the Asian powerhouse neighbors. After the visit, the delegation brought home $24 billion worth of pledges and credit facilities. Of this figure, $15 billion was attributed to the private sector.

The cabinet officials first introduced the “build, build, build” initiative during the Dutertenomics forum in Manila last month.