74 Projects Worth PHP2.32 Trillion Endorsed For Green Lane Treatment

Seventy-four projects totaling PHP2.32 trillion have been issued green lane certificates by the Board of Investments (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI).

The BOI stated that the majority, or 65 of the endorsed projects, are in renewable energy (RE) with an investment value of PHP1.95 trillion. I Photo: Philippine Information Agency

Executive Order (EO) 18, signed by President Ferdinand R. Marcos Jr. in February 2023, mandates the fast-tracking of the processing of permits and licenses for strategic investments with high economic impact, in concerned national government agencies and local government units.

The BOI stated that the majority, or 65 of the endorsed projects, are in renewable energy (RE) with an investment value of PHP1.95 trillion, while five projects are in digital infrastructure (PHP338.23 billion), two are in food security (PHP3.4 billion), and another two projects are in manufacturing (PHP29.61 billion).

BOI Director Ernie Reyes noted that OSAC-SI ended 2023 endorsing 22 projects worth PHP432.91 billion for green lane treatment. He added that in nearly six months of the current year, the OSAC-SI has certified 52 more projects for the green lane, marking a 136% increase.

The year-to-date investment value under the green lane also surged by 336%, or an additional PHP1.89 trillion, he added.

The OSAC-SI stated, “For the month of June, a total of PHP265.465 billion worth of strategic investments was certified, the highest of which is a PHP183.205 billion solar power project in Luzon.”

Of the total PHP2.32 trillion investments endorsed for green lane treatment, PHP891.37 billion came from foreign sources.

Reyes mentioned that 59 projects amounting to PHP792.71 billion are in the pipeline for green lane endorsement. He added that the proponents of these projects are still in the process of completing the requirements for green lane certification.