PHNOM PENH, Sept. 15 (Xinhua) -- The China-proposed Global Development Initiative (GDI) has become a key contributor to socioeconomic development and poverty reduction in developing countries, a Cambodian expert said on Thursday.
Thong Mengdavid, a research supervisor at Phnom Penh-based independent think tank Asian Vision Institute, said the GDI would help developing countries accelerate the implementation of the 2030 Agenda for Sustainable Development.
"The GDI, along with the Belt and Road Initiative (BRI), are crucial to promote global peace, security, and common development, and to build an open, inclusive, clean and beautiful world," he told Xinhua.
He added that the GDI has injected vigorous impetus into developing countries' efforts in alleviating poverty, securing food security, mitigating climate change, and promoting green development.
"It has given a boost to the building of a community with a shared future for mankind based on openness, inclusiveness, mutual respect, lasting peace, common development and prosperity," he said.
Mengdavid said China has traditionally led the way in terms of global development and wealth and that the GDI, together with the BRI, has fostered social contact, cultural understanding, economic resilience, and transnational commercial activity throughout the world.
"China has played a leading role in promoting regional and global integration, governance, and multilateralism," he said. "Through the GDI and the BRI, China has been making great contributions to promoting the steady growth of the global economy and has been sharing its fruits of development with the rest of the world."
While some Western countries label China's investment and financial aid as a "debt trap," Mengdavid said China's investment always places a high value on people's well-being and quality projects to guarantee that aid is used to benefit the local population.
"For Cambodia, the kingdom supports and welcomes all foreign assistance. China's support of Cambodia has no strings attached and no hidden political agenda," he said.
"Furthermore, under the BRI projects, Chinese investors have been promoting Cambodian people's livelihoods via sustainable and inclusive development," he added.
The expert said many Chinese projects are currently underway in Cambodia to help transform the Southeast Asian country into a regional economic hub.
Mengdavid said the GDI and the BRI will help Cambodia achieve its ambitious goals of becoming an upper-middle-income country by 2030 and a high-income country by 2050. ■
