President Rodrigo Duterte’s “Build, Build, Build” is transparent and goes through the proper government bidding rules and regulations.

Thus, Bases Conversation and Development Authority (BCDA) president and chief executive officer Vince Dizon assured lawmakers yesterday during the hearing called by the Senate Committee on Economic Affairs.

“The processes are very transparent and competitive under Philippine rules and regulations. There are no direct negotiations between the government and the contractors,” Dizon stressed.

He reiterated that Chinese-funded projects go through the necessary bidding processes with the lowest qualified bidder securing the projects.

The BCDA chief stressed that while the government of China provides a list of three Chinese-owned contractors, concerned Philippine government agencies vet the capability of these companies.

“It is the Chinese government that provides a list of accredited companies which are vetted by Philippine agencies. We check if the contractors are blacklisted by international agencies like the World Bank,” Dizon said.

“If they (contractors) are not qualified, the Philippine government can go back to the Chinese government for replacement,” he added.

Some “Build, Build, Build” projects such as those in Clark Air Base are within the BCDA-managed areas.

Dizon’s assurance was supported by the Department of Finance (DoF), through Assistant Secretary Maria Edita Tan.

Tan explained that projects funded by the China government are scrutinized the way other foreign assisted projects are reviewed.

“We make sure it’s concessional, meaning interest rates should be lower than when we borrow from commercial agencies,” she said.

The DoF official explained China offers 2 to 3 percent interest rate compared to World Bank’s fixed 3.71 percent and Asian Development Bank’s 3.44 percent.

Of all foreign partners, Japan offers the lowest rate at .10 percent.

Tan said the loan period usually runs 10 to 25 years.

She justified the need to get other foreign partners apart from Japan, saying “we have to diversify, we have technology and currencies to consider. Some currencies fluctuate easily.”