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NEDA: China not the only source of investments for PH

China is not the sole source of investments for the Philippines, National Economic Development Authority (NEDA) Secretary Arsenio Balisacan said Thursday.

In an ambush interview, Balisacan was asked for comment on the remarks of former presidential spokesperson Harry Roque that geopolitical challenges in the South China Sea and Strait of Taiwan could derail infrastructure projects under China's Belt and Road Initiative (BRI).

Balisacan said the Philippines has other "potential funders."

"China is not the only source of investment and potential funders. Of course, we would want China to be part of all our investment and infrastructure programs but we open the opportunities to anyone who would like to come in," he said.

"Of course, what is best for the country is the main consideration. If it turns out that other countries, Japan, Korea, or whoever can provide better terms and consent for the projects, we should go for those. So we are open insofar as sources of funds for infrastructure programs are concerned," he added.

Balisacan said they have been monitoring the BRI projects, adding that they have been reporting the developments of these projects to President Ferdinand "Bongbong" Marcos Jr.

He further said if China would no longer support projects, the Philippine government could "open" it to other countries.

"So if we see those projects, those China-funded or projects that are promised by China to be funded then we should open it up to other parties because we can't wait, those infrastructure programs or projects are needed, very critical for our economic operability," he said.

However, Balisacan did not identify what countries could fund the projects if China will no longer support them.

"We do not identify exactly what these countries are but we are opening up these lists of projects to whoever would come in. We look at the terms. We look at the commitments to complete the projects," he explained.—AOL, GMA Integrated News