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Published: 18:43, June 01, 2023
Joint infrastructure building contributes to LAC economies
By Xu Weiwei in Macao
Published:18:43, June 01, 2023 By Xu Weiwei in Macao

Speakers pose for a group photo following a panel on China-LAC infrastructure at the 14th International Infrastructure Investment and Construction Forum (IIICF) in Macao on June 1, 2023. (LI XIANG / CHINA DAILY)

Joint infrastructure building contributes to progresses of Latin America and Caribbean economies in sustainable development, according to 14th International Infrastructure Investment and Construction Forum (IIICF).

The forum, co-organized by the China International Contractors Association and the Macao Trade and Investment Promotion Institute in Macao June 1-2, devoted a special panel discussion to China-LAC infrastructure on June 1 among discussions.

Republic of Trinidad and Tobago Minister of Works and Transport Rohan Sinanan, said the republic progresses toward achieving economic, social, and environmental transformation guided by its Vision 2030, a comprehensive national development strategy. 

READ MORE: LAC countries urged to help build shared future

A key focus of this vision is to enhance productivity by investing in high-quality infrastructure and efficient transportation systems, ultimately making a significant and positive impact on the well-being of its citizens. 

In this context, the fruitful partnership between the Republic of Trinidad and Tobago and China “has played a pivotal role in successfully implementing crucial projects thus far while promoting cooperation in sustainable development,” Sinanan said.

Nicaraguan Minister of Transport and Infrastructure Óscar Salvador Mojica Obregón said, as a major country in innovation, infrastructure and science and technology, China is committed to mutually beneficial and win-win cooperation with Latin America and the Caribbean to promote economic recovery. 

Under the new international order through CELAC, which includes 33 countries, China's BRI continues to promote cooperation in infrastructure, science and technology innovation. The BRI, which actively promotes trade, investment and infrastructure development through economic corridors and sea routes, is currently joined by 21 countries in Latin America and the Caribbean, he added.

The 2023 IIICF in Macao draws thousands of participants from across the globe to its main sessions and panel discussions. (LI XIANG / CHINA DAILY)

Professor Alessandro Golombiewski Teixeira at School of Public Policy & Management of Tsinghua University, from Brazil, said in recent years, Latin America’s cooperation in infrastructure has grown exponentially, and Chinese companies have undertaken projects worth over $160 billion in Latin America. 

“As we continue to develop and expand our partnerships, we must also focus on paving the path towards a more sustainable and digitally advanced future,” he said.

READ MORE: IIICF forum focuses on high-quality sustainable development

Green transformation, as a concept, is more than an environmental initiative, and China has always advocated for a green and low-carbon economy, Teixeira said, citing the China-LAC Joint Wind Farm Project in northern Chile as a hallmark of our sustainable collaborations. 

This project, when completed, will generate over 200MW of clean, renewable energy, enough to power over 150,000 households. More importantly, it will significantly reduce carbon emissions, equivalent to removing more than 90,000 cars from the road each year.

This year’s IIICF is drawing more than 3,000 guests, more than doubling the figure in 2022, including ministerial-level officials, senior executives of financial institutions, international contractors, organizations, business associations and supply chain enterprises. 

Florence Li in Macao contributed to this report.

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