Manila looking for more investments from China
THE ECONOMIC managers of President Rodrigo Duterte want more Chinese capital to participate in the Philippine economy, especially in key infrastructure projects that the current administration has made the cornerstone of its growth policies.
“Our partnership with China has never been stronger, and it can only be strengthened if the Chinese companies – both state-owned and private – come to the Philippines and invest,” Bases Conversion Development Authority (BCDA) president and CEO Vivencio Dizon told potential investors.
In particular, the BCDA chief pointed out that the central business district currently rising in Clark, Pampanga, would be an attractive destination for Chinese money.
The call for more investments from China was made by key Cabinet members last week during the Philippine Economic Briefing in Beijing attended by an estimated 500 businessmen. The economic team led by Finance Secretary Carlos Dominguez III was joined by Executive Secretary Salvador Medialdea, central bank deputy governor Diwa Guinigundo and Public Works and Highways Secretary Mark Villar, among others.
“Like China, the Philippines is well positioned for growth,” Dominguez said, pointing to the country’s “strong fiscal position” that has paved the way for the government to invest in an ambitious infrastructure programme that works in concert with China’s Belt and Road Initiative.