P183 billion strategic investments get green lane certificates

MANILA, Philippines — A total of four strategic investment projects worth P183 billion had already been approved for green lane services, according to Trade Secretary Alfredo Pascual.

In a Viber message to reporters, Pascual said the One-Stop Action Center for Strategic Investments had already received 12 applications for green lane services, four of which had already been approved.

According to the Board of Investments (BOI), it has already issued green lane certificates to the four projects, which represent a significant investment in various sustainable projects, ranging from floating solar projects to data centers and common towers.

Among these projects are SunAsia Energy Inc.’s 1,300- megawatt (MW) floating solar project in Laguna de Bay worth P66 billion and NK Solar One Inc.’s 250 MW floating solar project in Caliraya, Laguna worth P15 billion.

Also approved were Phil-tower Consortium Inc.’s 7,907 built-to-suit common towers worth P52 billion, and narra technology development park’s hyperscale data center in New Clark City, Tarlac worth P50 billion.

The BOI said it is currently evaluating additional projects worth P78.5 billion.

Among these projects are five more floating solar projects, a micro-hydro electric plant, a reinforcing steel bars producer, and a section mill project.

Pascual said the 12 applications are seen to generate at least 19,250 jobs in total.

Earlier this month, the government officially launched the green lanes for strategic investments, which were established through Executive Order 18 (EO 18).

“ The green lanes that we have set up will address the barriers across multiple regulatory agencies that hamper the entry and delay the realization of foreign direct investments. By further easing and fast tracking the processes for doing business in the Philippines, we will raise the competitiveness of the country in attracting strategic investments by global enterprises,” Pascual said.

EO 18 is a government-wide response to enhance the ease of doing business in the country by expediting, streamlining, and automating government processes for strategic investments.

Moreover, the EO also mandates the DTI-BOI to establish a one stop action center for strategic investments, which shall serve as the single point of entry for all projects qualified as strategic investments.

The action center is mandated to identify and designate an investment as strategic investment and endorse the same to concerned NGAs, LGUs, and/or quasi-judicial bodies for processing of permits and licenses.

Strategic Investments include highly desirable projects recommended by the Fiscal Incentives Review Board  to the Office of the President, foreign direct investments as endorsed by the Inter-agency Investment Promotion Coordination Committee, and priority projects or activities under the Strategic Investment Priority Plan.   It also covers the investment pledges presented to the President during his presidential visits.