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Duterte back from Belt and Road forum in China

President Rodrigo Duterte arrived in Davao today from his four-day visit in Beijing, attending China’s Belt and Road forum and meeting Chinese President Xi Jinping, amidst a bout of migraine that prevented him from attending the gala dinner with world leaders.

Duterte also witnessed the signing of 19 government-to-government and commercial agreements which, Malacanang claims, could bring US$12.165 billion worth investments and employment to 21,000 Filipinos.

Foreign Affairs Secretary Teodoro Locsin Jr. said the Belt and Forum was a “raging success.”

Duterte joined 36 other world leaders who attended the forum that seeks to further China’s ambition to revive its glorious history of economic prowess by reviving its “silk road” with Southeast Asia, South and Central Asia, Africa, Latin America and Europe.

Among the world leaders who attended were His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE Ruler of Dubai, Russia’s President Vladimir Putin, Malaysian Prime Minister Mahathir Mohamad, and Italian Prime Minister Giuseppe Conte.

Notably absent was US President Donald Trump.

H.H. Sheikh Mohammed bin Rashid Al Maktoum said China will invest $2.4 billion dollars to create a storage and shipping station in an area spanning 60 million square feet in Jebel Ali, Dubai, to export Chinese goods all over the world.

Among the 19 Chinese BRI projects in the Philippines include:
1. Construction and development of nationwide public wifi-system.
2. Training of Filipinos to serve as domestic helpers in China
3. Construction of the South Pulangi Hydroelectric Powerplant
4. Projects for Cagayan Economic Zone Authority including the expansion of Cagayan North International Airport in Lallo, Integrated resort with theme parks and amenities in CEZA, establishment of fin-tech hub and financial center with entertainment facilities, and establishment of a “smart city”

Three days after the forum, China was able to seal more than US$64 billion worth of deals. Chinese President Xi Jinping tried to allay fears that Chinese projects under the Belt and Road Initiative would lead to debt trap.

Staff Report

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