China’s BRI that is the Belt Road Initiative is expected to increase the Philippines’ technological development, former President Gloria Macapagal-Arroyo said to the business leaders, urging them to take advantage of opportunities presented by Chinese tech companies currently looking for partners in the Philippines.
“In this infrastructure-driven path (of President Rodrigo R. Duterte’s administration), our relations with China under the BRI can give us many opportunities. The Philippines can greatly benefit from high flows of capital for technology from China in this age of connectivity and digital economy,” Ms. Arroyo said in her speech at the 45th Philippine Business Conference and Exposition.
She said that given China’s level of technological advancement, it is not a surprise that the Chinese companies like Alibaba have become global leaders.
Ms. Arroyo brandished a Chinese-made translation device that is capable of rendering the spoken word into foreign languages.
She said she recently went to China as part of a trade and investment mission for her home province of Pampanga.
“We went to the China-ASEAN Information Harbor, a high-tech company which was also visited by President Xi Jinping not too long ago. It is an information ocean for building the digital Silk Road, and they want to set up a big data center in the Philippines. That is big data, and that is what the BRI can get to the Philippines if the Philippine business community takes advantage of the opportunities” the former President and Speaker said.Ms. Arroyo also met with “several exporters” in China.
“Given the trade war between China and the US, it might be fruitful for the PCCI to reach out to the distributors of these products,” she claimed