CIDCA vice-chairman addresses International Roundtable of Multinational Corporations’ Leaders

Zhao Fengtao, vice-chairman of the China International Development Cooperation Agency (CIDCA), spoke at the 14th International Roundtable of Multinational Corporations' Leaders in Beijing on Nov 17. At the event, he highlighted the impact of the China-proposed Global Development Initiative (GDI), emphasizing its role in elevating the importance of development on the global stage.

He said, guided by the initiative, the CIDCA has continued to promote the establishment of a new pattern of international development cooperation featuring multi-stakeholder participation, multi-resource input and multi-direction connectivity. The agency has reinforced its advantages in infrastructure development and human resources cooperation, laying a solid foundation for regional prosperity and corporate development. It has created new opportunities for cooperation by establishing the Global Development Project Pool and the Global Development Capital Pool, upgrading the Global Development and South-South Cooperation Fund, and mobilizing domestic and foreign financing resources to money the joint participation of multiple entities in international development cooperation. Additionally, it has explored new areas of cooperation, echoing the eight key cooperation areas under the GDI which are closely related to the development hotspots of the times. The implementation of a series of projects in emerging areas has paved new paths for enterprise development, he said.

In today's world where development gap between the North and the South is widening, the realization of the United Nations 2030 Agenda for Sustainable Development faces grave challenges. He stressed the  CIDCA is willing to work with all parties to build platforms for dialogue, noting that it has hosted the high-level conference of the Forum on Global Action for Shared Development for two consecutive years, attracting the participation of more than 160 countries and international organizations. It has tapped the role of the Global Development Project Pool and the Global Development Capital Pool, and strengthened policy support, cooperation guidance and resource input for cooperation between public and private sectors. The agency has also created opportunities for new projects by coordinating the advancement of landmark projects and small-yet-smart people's livelihood projects, and expanded cooperation in emerging areas, Zhao noted.

He also announced that the third China-Indian Ocean Region Forum on Blue Economy Development Cooperation would take place in Kunming, Yunnan province, in December, and extended invitations to attending guests.

The roundtable was jointly hosted by the China International Council for the Promotion of Multinational Corporations, China Center for International Economic Exchanges and multiple UN agencies.