THE Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSAC-SI), has granted green lane certificates to 126 projects worth P4.13 trillion to expedite the processing of their permits and licenses in national government agencies (NGAs) and local government units (LGUs).
The BOI said yesterday, September 26, that 114 out of 126 projects are renewable energy (RE) projects amounting to P3.74 trillion.
It added 36 RE projects valued at P1.64 trillion are already registered with the BOI to receive fiscal and non-fiscal incentives.
Most of the big-ticket projects under green lane are in offshore wind energy.
For this month alone, the OSAC-SI awarded the endorsement for green lane to an offshore wind energy project in Ilocos Norte with investments of P289 billion.
Three offshore wind energy projects of Filipino-Danish partnership BuhaWind Energy Philippines worth over P600 billion in Northern Luzon, Northern Mindoro, and East Panay with generation capacity of 4 gigawatts also got green lane certificates from the OSAC-SI.
Aside from RE projects, the OSAC-SI provided green lane treatment to six projects worth P346.33 billion in digital infrastructure, two projects worth P29.61 billion in the manufacturing sector, and four projects worth P4.14 billion in food security.”The green lane initiative ensures that the Philippines remains competitive on the global stage, attracting investors who prioritize innovation and sustainability. With over P4 trillion in investments already certified, we are setting a clear path towards renewable energy growth, job creation, and reducing our carbon footprint,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said.
He added: “This initiative is not only a testament to the government’s commitment to creating a more efficient and business-friendly environment but also a vital tool for accelerating strategic projects that drive sustainable development.”
Moreover, the BOI said that through the green lane initiatives, many strategic investment projects are on track in commencing their operations.
Signed by President Ferdinand R. Marcos Jr. in February 2023, Executive Order 18 establishes the OSAC-SI to give green lane treatment to strategic investments in NGAs and LGUs by simplifying and streamlining their approval process. (PNA)
