The Second Belt & Road Forum for International Cooperation was held in Beijing National Conference Center from April 25 to 27, 2019. This is a high-rank forum held by the Chinese government.
At the meeting, Mr. Li, the head of Philippines Baihao Holding Group Company, signed a memorandum of understanding along with the President of the Philippines, Duterte and Philippine Foreign Minister. Li also signed the Laro Airport Extension Project and the IBS Planet Cooperation Agreement with the Cagayan Special Economic Zone in the northern Philippines.
The Laro Airport Extension project and the IBS Planet project will be jointly developed by the Baihao Holding Group and the UN Foundation, and will be included in the key development plan of "Belt & Road MOU". Laro Airport will be expanded into an international airport in the future, with a project value of $500 million.
The signing of the cooperation agreement marks the formal incorporation of IBS into the "Belt & Road MOU". IBS Planet is the first "Digital Assets Free Trade Area" in the world and the first project under the umbrella of UNGLOBAL, an integrated blockchain application platform located in the Cagayan Special Economic Zone of the Philippines and committed to building an integrated blockchain application platform, whereby digital economy and real economy are highly integrated. Its purpose is to construct a decentralized, visualized and highly liberalized open-source blockchain ecosystem and a globalized, base-stemmed and replicable business model of innovation. After the completion of IBS Planet project, foreign-funded enterprises and business complexes in Cagayan, Santa Ana Bay will support UC (IBS Business Token) payment and investment and asset management with UNTC as equity, which will create stable returns for UNTC users. UNTC users will have a real-name stake in the IBS Planet Development project based on the number of UNTCs in hand.
The incorporation of the IBS Planet into the “Belt & Road MOU” means that UNGLOBAL has successfully kept its fast pace along with China's economic development, and it has a positive effect on the rapid development of UNGLOBAL's global ecosystem.