The 12th International Infrastructure Investment and Construction Forum Convenes Today
The 12th International Infrastructure Investment and Construction Forum (12th IIICF), co-organised by the China International Contractors Association and the Macao Trade and Investment Promotion Institute, opened today (22 July). It has attracted over 1,300 prominent figures in political, business and academic circles from over 500 units, discussing issues related to industry development in the post-pandemic era such as new opportunities, green development, financial innovation and emphasis on Macao elements to promote moderate economic diversification in Macao.
IIICF Forges Significant Co-operation Platform
In his speech at the opening ceremony, Chief Executive of the Macao Special Administrative Region Ho Iat Seng stated that thanks to the strong support of the central government and the joint efforts of all sectors of society, the epidemic is effectively controlled in Macao, resulting in overall economic stability and gradual recovery of tourism, convention and exhibition industries. Macao is now recognised as a healthy and safe travel destination. As an important co-operation platform for the international infrastructure sector, the IIICF has developed into a pivotal platform for advancing the construction of the Belt and Road and deepening infrastructure co-operation between China and Portuguese-speaking countries. It also plays a positive role in accelerating the interconnectivity in cross-border infrastructure between Macao and the Guangdong-Hong Kong-Macao Greater Bay Area, constructing and expanding large transport hubs, and improving the urban outlook. Being located at the intersection of the country’s “dual economic circulation”, Macao will continue giving full play to its own advantages and contributing to the communication and collaboration in the international infrastructure and investment sector, as well as the interconnection of the country’s infrastructure facility and the standards alignment.
Assistant Minister of Commerce of the People’s Republic of China Mr. Ren Hongbin remarked that in the face of the adverse impacts of COVID-19, China and the rest of the world have helped and supported each other to promote the steady and healthy development of international infrastructure investment and co-operation, contributing to the intensified bilateral and multilateral economic and trade ties. He also mentioned that China’s foreign direct investment throughout 2020 was US$ 132.9 billion, a year-on-year increase of 3.3%; and the turnover of its foreign contracted projects reached US$ 155.9 billion, maintaining steady development. In 2020, the scale and market share of China’s foreign investment and co-operation ranked among the world’s highest. In addition, Ren proposed to propel regional infrastructure interconnectivity, draw on each other’s strengths, conduct extensive consultation, jointly contribute, and share achievements. It is also recommended to innovate investment and financing modes and broaden infrastructure financing channels while boosting green development and insisting on innovation-oriented infrastructure construction. In the future, China will continuously deepen practical co-operation with countries around the world in infrastructure to achieve common development in accordance with the principles of “industrial integration, market connectivity, innovation-driven growth, and regulatory alignment”.
Deputy Chairman of the Senate of Pakistan Mirza Muhammad Afridi noted that despite the impacts of the COVID-19 epidemic on economic development in all parts of the world, China is still the largest foreign direct investor in Pakistan. In 2020, the China Gezhouba Group Corporation and other companies signed a US$ 1.5 billion deal for the Azad Pattan Hydel Project, demonstrating their confidence in investment in Pakistan. As a flagship project of the “Belt and Road” Initiative, the China-Pakistan Economic Corridor has always been the most successful example of China-Pakistan friendship and business co-operation. The project is now in its second stage, and not only contributes to Pakistan’s economic stability but also helps it remain open to other countries, in order to seek common development and prosperity.
Malaysia’s Minister of Transport Datuk Seri Ir. Dr. Wee Ka Siong shared in his speech that in the past ten years, Malaysia’s partner countries have made large-scale high-tech investments there. Among them, the Gemas-Johor Bahru Electrified Double-Track Project, the ASEAN rail manufacturing hub by the China Railway Rolling Stock Corporation and the East Coast Rail Link are all large investment projects by Chinese companies. In 2021, the Malaysian government is attempting to provide more favourable policies for investors, so as to attract more forward-looking high-tech companies to Malaysia and motivate them to invest in upgrading the national infrastructure and improving the business environment.
Nigeria’s Minister of Aviation Hadi Abubakar Sirika pointed out that Nigeria-China infrastructure co-operation is at its all-time high. China has invested heavily in Nigeria’s infrastructure, including aviation, railway infrastructure, marine infrastructure, oil and natural gas, demonstrating bright prospects. Currently Nigeria needs to speed up its infrastructure development, especially aviation and railway infrastructure, to connect and communicate with countries around the world.
Over 1,300 Elites from the Political, Commercial and Academic Circles Share Their Wisdom
On the first day of the 12th IIICF, “The Belt and Road Infrastructure Development Index 2021” and “The Belt and Road Infrastructure Development Index Report 2021” were released. Two keynote forums, “Dialogue with Senior Management from Financial Institutions-Breaking Financing Bottleneck in Infrastructure Projects through Financial Innovation” and “Trends, Opportunities and Challenges in International Infrastructure Development under the Background of Carbon Peak and Neutrality”, and “The 7th China-LAC Infrastructure Forum” were also staged on the same day.
64 Top 250 International Contractors, 72 Global 500 Companies and 25 Financial Institutions Join IIICF
More than 1,300 guests from over 500 entities in 71 countries and regions have signed up for the 12th International Infrastructure Investment and Construction Forum (12th IIICF), an increase of around 30% compared to the 11th IIICF. The guests include 42 foreign envoys in China, and senior executives of 25 financial institutions, 64 top 250 international contractors and 72 Global 500 companies. In addition, the 12th IIICF offers 60 booths, which is an increase of about 40% compared to the previous IIICF. The combination of exhibitions and forums is expected to enhance communication and business matching.
25 financial institutions participate in the 12th IIICF, including the Asian Infrastructure Investment Bank, the China Development Bank, the Export-Import Bank of China, the China Export & Credit Insurance Corporation, the Bank of China, the Industrial and Commercial Bank of China, the Standard Bank of South Africa Limited, the Commerzbank, the China-Africa Fund for Industrial Cooperation, and the China-LAC Cooperation Fund.
