Neda chief: China is not PH’s only source of investment

FILE PHOTO: Arsenio Balisacan —PHOTO FROM NEDA FACEBOOK

MANILA, Philippines — The Philippines has other “potential” investors for infrastructure projects, not just China, National Economic Development Authority (Neda) Secretary Arsenio Balisacan said Thursday.

He issued the remark in response to the statement of former Palace spokesman Harry Roque, who said that issues in the South China Sea and the rising tension between China and Taiwan could derail infrastructure projects under China’s Belt and Road Initiative (BRI).

“China is not the only source of investment and potential funders. Of course, we would want China to be part of all our investment and infrastructure programs, but we open the opportunities to anyone who would like to come in,” Balisacan said in a chance interview.

“Of course, what is best for the country is the main consideration. If it turns out that other countries, Japan, Korea, or whoever can provide better terms and consent for the projects, we should go for those. So we are open insofar as sources of funds for infrastructure programs are concerned,” he added.

The NEDA chief said the Philippine government has been monitoring the progress of BRI projects, and if China would no longer support these, the projects could be opened to other countries.

“So if we see those projects, those China-funded or projects that are promised by China to be funded, [not pushing through] then we should open it up to other parties because we can’t wait. Those infrastructure programs or projects are needed, very critical for our economic operability,” he said.

Balisacan did not specify what countries could fund the projects if China no longer supports them. He said the administration is not looking at any particular country that could potentially fund the BRI projects.

“We do not identify exactly what these countries are but we are opening up these lists of projects to whoever would come in. We look at the terms. We look at the commitments to complete the projects,” he explained.

“We look at the terms. We look at the commitments to complete the projects. Because the infrastructure flagship projects, we want to make sure these are all unrolled as the administration completes its term,” he further said.

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