A TOTAL of 173 projects costing P4.51 trillion with foreign investments worth P1.65 trillion have been granted green lane certificates to fast-track their approval process as of Dec. 20, according to the Board of Investments (BOI).
Of the list, 139 are renewable energy (RE) projects worth P4.11 trillion; 22, food security (P13.95 billion); eight, digital infrastructure (P352.13 billion); and manufacturing, four (P36.91 billion).
Executive Order 18, which President Ferdinand Marcos Jr. signed in February 2023, established green lanes to accelerate and simplify the permit and licensing processes for strategic investments, especially for RE projects.
The BOI said RE projects have increased after the national government allowed full foreign ownership from the previous 40 percent.
“We have been talking with the Department of Energy (DOE)… in assigning more RE projects to the green lane… We want to continue [helping] these projects… to enhance the energy capacity of the country,” BOI Director Ernesto Delos Reyes said in a briefing with reporters last week.
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