Macao Chief Executive Ho Iat-seng attends the opening ceremony of the 13th International Infrastructure Investment and Construction Forum on Sept 28, 2022. (WILLIAM XU / CHINA DAILY)
Infrastructure is regarded as a pillar industry for nearly all countries, and sustainable and green projects built with China’s Belt and Road Initiative have greatly enhanced connectivity and contributed to better growth of the developing world, experts say.
The forum is focused on consolidating the foundation of collaboration, expanding the field of collaboration, and extensively carrying out dialogue and exchanges, said Li Fei, assistant minister at the Ministry of Commerce, in his keynote speech
The two-day 13th International Infrastructure Investment and Construction Forum (IIICF) opened on Sept 28 in Macao Special Administrative Region with the attendance of Chief Executive Ho Iat-seng. Fang Qiuchen, chairman of the China International Contractors Association, host of the opening ceremony, noted that the forum’s theme, “Co-building Infrastructure of High Standard, Sustainability and Benefit to People’s Livelihoods”, followed the pulse of global expectations.
Fang, together with Wang Wen, chief economist of China Export & Credit Insurance Corporation, launched The Belt and Road Infrastructure Development Index (2022) and The Report on the Belt and Road Infrastructure Development Index (2022) at the event.
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This forum is focused on consolidating the foundation of collaboration, expanding the field of collaboration, and extensively carrying out dialogue and exchanges, said Li Fei, assistant minister at the Ministry of Commerce, in his keynote speech. “I believe it is of great significance for the high-quality joint construction of the Belt and Road, the implementation of the Global Development Initiative, and the promotion of building a community with a shared future for mankind,” he said.
Li noted that “infrastructure plays an important role in supporting economic and social developments”. In 2021, China’s foreign investment cooperation overcame the impact of the pandemic and achieved stable and healthy development, he said, with annual foreign direct investment of US$178.8 billion, up 16 percent year-on-year, and with new contracts for foreign contracted projects of US$258.5 billion, achieving a turnover of US$154.9 billion.
Fang Qiuchen (left), chairman of the China International Contractors Association, and Wang Wen, chief economist of China Export & Credit Insurance Corporation, launch The Belt and Road Infrastructure Development Index (2022) and The Report on the Belt and Road Infrastructure Development Index (2022) at the 13th International Infrastructure Investment and Construction Forum (IIICF) in Macao on Sept 28, 2022. (PROVIDED TO CHINA DAILY)
A number of major infrastructure projects steadily advanced, and small but meaningful livelihood projects have been implemented one after another, making positive contributions to the recovery of the global economy and enhancing the well-being of people of all countries, he said.
In his speech, Li addressed the pandemic, the intertwined changes not seen by the world in a century, the adverse forces economic globalization has encountered, the challenges to the security and resilience of the industrial chain and supply chain, and the complex and profound changes the international infrastructure collaboration environment is undergoing.
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“At the same time, a new round of scientific and technological revolution and industrial transformation has developed and deepened, the digital economy and green development have become new engines of economic growth, and infrastructure cooperation is also facing new development opportunities,” he said. “China is willing to deepen communication and exchanges with all parties, further tap the potential of international infrastructure cooperation, and work together to promote global common development.”
Li said the upcoming 20th National Congress of the Communist Party of China will draw up a grand blueprint for China’s future development. “We will continue to bring new opportunities to the world with China’s new development … promote the joint construction of the Belt and Road, continue to deepen pragmatic cooperation with other countries in the field of infrastructure, and work together to create a better future.”
Maja Stefanovic, Ambassador of Embassy of Serbia in China, says that Serbia is looking for enhancing infrastructure cooperation, especially in the development of digital infrastructure, with Chinese companies and the Asian Infrastructure Investment Bank, in a recorded address at the forum. (WLILLIAM XU / CHINA DAILY)
Suhail Mohamed Al Mazrouei, minister of energy and infrastructure of the United Arab Emirates, said the relationship between China and the UAE has become increasingly close over the years, and the two countries’ ties are characterized by broad development potential and positive prospects.
According to him, the UAE has contributed to more than 650 projects with Chinese investments, and more than 4,000 Chinese companies operate in the UAE today, creating more than 400,000 jobs.
"By granting foreign investors full ownership of different enterprises, we aim to stimulate investment cooperation between our two countries in different areas, such as digital economy, green economy and circular economy," he said. "In its vision for the future, the UAE is seeking to shift to a more sustainable green economic model."
He noted that construction is the most attractive sector for investors, and despite the impact of COVID-19, construction investment in the UAE is still growing. The UAE understands that sustainable infrastructure investment is key to green growth after the pandemic.
In a video address, Wee Ka Siong, Malaysia’s minister of transport, described infrastructure development as a nation's backbone “to spur progress and improve the well-being of its people”.
He said Malaysia remains committed to working on “quality and sustainable infrastructure that will have a high catalytic impact” toward the goal of achieving a high-income, developed economy. Also, priority is placed on improving connectivity across regions through the integration of various transport modes.
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Over the past 40 years, “Malaysia has adopted innovative approaches to infrastructure investment, in ensuring high value infrastructure projects are feasible, reliable, socioeconomically sustainable and cost-effective”, he said.
In the maritime industry, he said the country has multiple projects developing alongside well-managed and highly efficient ports, which include the Malaysia-China Kuantan Industrial Park, a sister park of China-Malaysia Qinzhou Industrial Park based on the “two countries, twin parks” concept.
He mentioned there have been massive high-tech investments from foreign partners over the last 10 years, citing as examples the Gemas-Johor Bahru electrified double-tracking project, the CRRC Rolling Stock Centre and the East Coast Rail Link, among mega projects with substantial investment from Chinese enterprises.
Mahbub Ali, Bangladesh’s state minister for civil aviation and tourism, said in his video address that infrastructure investment and construction are essential to each nation’s economic and social growth, “enhancing national competitiveness by improving regional and world connectivity across the country”.
“The traditional friendship between China and Bangladesh has a long history and has a broad space for cooperation in the field of infrastructure,” he said, adding that his Ministry of Civil Aviation and Tourism has maintained close communication and exchanges with Chinese companies.
He cited the completion of the Padma Bridge project, built by a Chinese contractor. “The Padma Bridge greatly promotes the connectivity between Dhaka and southwest area of the country, regional connectivity, and provides millions of employment opportunities along the route,” he said. “I am indeed looking forward to witnessing more and more similar grand projects in the future.”
Joao Baptista Borges, Angola’s minister of energy and water, said via video link that China is the country’s main economic partner, achieving around $23 billion in trade exchanges.
Leaders from Chinese and international enterprises exchange their insights on promoting green infrastructure construction to address global challenges such as climate change, global carbon neutrality goals and infrastructure sustainable development in Macao on Sept 28, 2022. (WILLIAM XU / CHINA DAILY)
Among the country’s important infrastructure projects, the Caculo Cabaca power plant will be the largest hydroelectric undertaking built in Angola. It is a clean energy, ecologically sustainable project, and with a capacity of 2,172 megawatts it is the largest investment for a single project financed by China, or any other source, in Angola.
Borges said the project so far represents an estimated value of over $5 billion. “From the point of view of project impacts, the Caculo Cabaca hydroelectric plant will bring a major amount of energy production” to Angola, he said.
Lou Qiliang, president of CRRC Corporation Ltd, said the international political and economic pattern is undergoing profound changes, and the global trade and investment downturn has brought severe challenges to the development of all countries.
“The Belt and Road Initiative proposed by President Xi Jinping has strengthened economic integration between countries and injected development vitality into the construction of a community with a shared future for mankind,” he noted.
Lou said infrastructure interconnection is a priority area of BRI construction, and rail transit is an important part of the construction of new infrastructure, driving urban development and promoting urban prosperity.
The 13th IIICF compared with last year’s event has increased about 20 percent in scale. It has gathered more than 1,300 participants, including leaders and executives from government departments, 20 financial institutions, more than 70 of the world’s top 250 international contractors, and more than 600 enterprises in the infrastructure industry and its industry chain from different regions of the world.
vivienxu@chinadailyapac.com