By Genalyn Kabiling

BEIJING – The Philippines is projected to become the 25th largest economy in the world in PPP (purchasing power parity) terms.

President Duterte said this during the leaders’ roundtable session on promoting green and sustainable development at the Belt and Road Forum for International Cooperation in Beijing.

The Philippines is on the path of economic resurgence and will soon become an upper middle-income country, President Duterte declared Saturday at the Belt and Road Forum for International Cooperation.

The President highlighted the county’s progress as he vowed to further improve economic productivity, promote clean and green infrastructure network.

“The Philippines, along with the rest of Asia, is on the path of economic resurgence,” he said during the leaders’ roundtable session on promoting green and sustainable development.

“By 2020, the combined economies of Asian countries will be larger than that of the rest of the world. The Philippines, in particular, is set to join the ranks of upper-middle-income countries as it is projected to become the 25th largest economy in the world in PPP terms,” he said.

Amid the promising future of Asia, Duterte said growth and prosperity must be “inclusive, equitable and sustainable” for the region to remain an “economic powerhouse.”

He noted that the Philippines’ national development plans were aligned with the UN 2030 Agenda on Sustainable Development.

He said his government would “do all that is necessary” to attain its goal to provide a comfortable and secure life to Filipinos. He said he intends to build “strong partnerships” with like-minded states, multilateral institutions, and other stakeholders that share his vision.

With agriculture an important growth driver, Duterte said he welcomes economic investments that will help improve the country’s productivity with the entry of relevant production and post-harvest technologies.

Duterte also sought to enhance cooperation in green technology, citing plans to accelerate the county’s transition to low-carbon development pathways.

“We will also ensure our infrastructure systems should be clean and green. We will strengthen our policy framework for green financing in order to attract investments in renewable energy,” he said.

He highlighted the government’s infrastructure development program that seeks to transform the country into “one integrated economic space.”

At least 75 big-ticket infrastructure projects worth $41.6 billion dollars will be implemented in the medium-term, according to the President.

“Our goal is to promote new growth centers outside the already congested urban-industrial region surrounding Metropolitan Manila. This will create more job opportunities for our people,” he said.