BRI investment cooperation to open new growth avenues for participating firms
2019-07-05 13:14:30 China Daily
Investment cooperation under the Belt and Road Initiative is close to fulfilling its potential of bringing huge mutual benefits.
Investment cooperation under the Belt and Road Initiative is close to fulfilling its potential of bringing huge mutual benefits, with better understanding and communication set to create more growth opportunities for participating companies in the growing trade, experts said.
"Chinese investment in the BRI economies is expected to register steady growth this year and may even accelerate, as the initiative has become more mature and gained support and positive attention from the international community," said Li Qiang, regional co-managing partner of Asia at global law firm DLA Piper.
For instance, Italy has joined the initiative as the first member from the Group of Seven, the seven largest developed economies in the world, signaling the rising power of the initiative, Li said. China has also recently signed a memorandum of understanding with the United Kingdom to carry out infrastructure cooperation in third-party economies, including those involved in the BRI.
Proposed by China in 2013, the BRI has boosted investment cooperation across Asia, Europe and Africa. From 2013 to 2018, Chinese corporates' direct investment in economies involved in the BRI exceeded $90 billion, with an average annual growth rate of 5.2 percent, said data from the Ministry of Commerce.
These Chinese investments, with a focus on transportation and communications infrastructure, have been win-win stories and helped the host economies enhance efficiency of all kinds of economic activities, Li said.
BRI has helped participating companies gain new markets, elevated international brand awareness, and created a solid foundation for Chinese enterprises to do business in global markets, Li said.
For Chinese companies, their ability to communicate with local communities - which is critical for fluent project implementation - has also gradually improved, according to Li.
"But there is still much to be done," Li added, citing it is important for Chinese companies to conduct efficient communication with the local communities, especially clarifying the purpose of investment and clearing other doubts.