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Manila Bulletin devider Business devider Trade & Industry devider 173 food, renewable energy projects secure 'green lane' status

173 food, renewable energy projects secure 'green lane' status

Published Dec 24, 2024 07:41 am

Filipinos could be assured of stable food supply, more job opportunities, and sustainable resources as the Board of Investments (BOI) has already certified 173 projects worth a total of P4.5 trillion under its Green Lane initiative.  

BOI Investment Assistance Service Director Ernesto C. Delos Reyes reported during a Dec. 20 press briefing that P1.6 trillion of the total investments comes from foreign investors. 

Thirty-six percent of the foreign investments are classified as foreign equity, with 25 percent involving foreign entities owning a significant portion of the businesses.

Delos Reyes noted that nearly half (45 percent) of the total foreign-owned projects are focused on food security, while 39 percent are dedicated to renewable energy (RE). Also, investments in digital infrastructure stand at 11 percent, and manufacturing at five percent. 

Asian countries—Singapore and Thailand—lead in foreign ownership, followed by the British Virgin Islands and Switzerland partnerships.

In terms of volume, Delos Reyes explained that the threshold for Green Lane projects depends on policies under the Strategic Investment Priority Plan (SIPP), with a focus on highly desirable projects, particularly in renewable energy (RE). 

He noted that the BOI is also working closely with the Department of Energy (DOE) to align national significance and facilitate permits and licenses for these projects.

Currently, the DOE is reviewing the final threshold for Green Lane projects under executive order (EO) 30 to ensure faster commercial operations and reduce delays.

Meanwhile, Delos Reyes said that the BOI offers the same high-quality service for all projects—only that Green Lane projects receive additional support and certification, especially for strategic sectors such as renewable energy.

Green lanes, created by EO No. 18 in 2023, are designed to speed up and simplify the permit and licensing process for strategic investments.

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