Three more projects worth P15.35 billion have been approved by the One-Stop Action Center for Strategic Investments (OSACSI) for the green lane this month, bringing the total value of those projects to P4.552 trillion, the Board of Investments (BoI) said. ) offisaid cial.
BoI Investment Assistance Service and OSACSI Director Ernesto C. delos Reyes, Jr. said three projects in the renewable energy (RE) industry were approved this month.
“Most of these are solar projects,” he told reporters on the sidelines of the European Chamber of Commerce of the Philippines (ECCP) event on Thursday.
The latest approval has brought the total amount of green and certififeeding projects to 179.
Out of all 144 projects worth P4.15 trillion. These account for 80.45% of the certified projects.
Investment in RE projects increased after the government allowed full foreign ownership in the industry. Foreign ownership was previously set at 40%.
Eight digital infrastructure projects were also approved for greenway treatment worth P352.13 billion. This accounted for 7.74% of the total approvals.
Meanwhile, 23 projects involve food security and are estimated at P14.37 trillion.
Completing the list were four manufacturing projects worth P36.91 billion.
According to Mr. Delos Reyes, six greenway projects are already operational. Three of them are in the RE sector, two are digital infrastructure projects, and one is in food security.
Three of the projects are in pre-operational stages – two in RE and one in food security.
Meanwhile, 37 projects are under construction. These include 19 RE projects, four digital infrastructure projects, 10 food security projects, and four manufacturing projects.
The majority, or 133 projects, are still in the pre-development stages. These are 120 RE projects, two digital infrastructure projects, and 11 food security projects.
In February 2023, the government established Executive Order (EO) No. 18, a “green lane” program for all government offices, which expedites approvals and permits for strategic investments.
“Encouraged by the significant feedback from our investors, especially our foreign partners, we are happy to see green lane activities progressing. “The dedicated hand-holding assistance provided by our dedicated Greenlane people across the board is a major driver of our progress,” said Mr. Delos Reyes.
“With the government’s strategic approach guiding us, we believe in our collective ability to achieve the goals of EO 18. Together, we wish to achieve the targeted times of commercialization of these strategic projects or sooner than expected,” he said. added. – Justine Irish D. Tabile
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