MANILA, Philippines — The Board of Investments (BOI) has certified P4.55 trillion worth of projects for green lane processing.
Data from the BOI showed that 179 projects with P4.55 trillion in investments have been endorsed to go through green lane services as of this month.
Executive Order 18, which was issued in February 2023, created the green lanes to streamline and speed up the processing of licenses and permits for strategic investments.
The initiative is in line with the government’s aim to foster a business-friendly environment and position the Philippines as a key investment destination for both local and foreign firms.
Bulk or 80.5 percent of the certified projects are in renewable energy (RE).
In particular, 144 RE projects with investments worth P4.15 trillion have been endorsed for green lane services.
The BOI has also certified 23 food security projects worth P14.37 billion for green lane processing.
Also granted green lane status are eight digital infrastructure projects worth P352.13 billion and four manufacturing projects with investments of P36.91 billion.
Projects certified for green lane services are in various stages, with six already operational, three in pre-operation, 37 under construction and 133 in pre-development.
Earlier this year, the BOI said 30 projects amounting to P639 billion are applying for green lane certification for faster processing of permits and licenses.
Of the total, 24 projects worth P584.56 billion are under the RE sector.
Also seeking green lane endorsement are four manufacturing projects amounting to P54.30 billion and two food security projects worth P220 million.