BOI fast-tracks P4.46 trillion investments via green lane

MANILA, Philippines — The Board of Investments (BOI) has certified 167 projects worth P4.46 trillion for green lane processing as of November.

In a statement, the BOI said the projects were certified by the One-Stop Action Center for Strategic Investments for green lanes as of Nov. 14.

In February last year, President Marcos issued Executive Order 18, establishing green lanes to fast-track and streamline the processing of permits and licenses for strategic investments that can help drive economic growth.

Of the projects endorsed for green lane processing, 136 are in renewable energy, with a total cost of P4.06 trillion.

Also endorsed for green lanes were 22 food security projects with investments amounting to P13.95 billion.

The BOI has also certified six digital infrastructure projects with a total cost of P346.33 billion.

In the manufacturing sector, three projects with total investments of P32.55 billion have been endorsed for green lanes.

Among those recently awarded green lane status are the offshore wind power projects of Buhawind Energy Philippines (BEP) worth P694 billion.

The BOI handed over the green lane certificate to BEP chairman Jasmin Bejdic on Nov. 18.

BEP is a joint venture between Yuchengco-led PetroGreen Energy Corp. and Denmark’s Copenhagen Energy.

The three projects, which have an aggregate target installed capacity of 4,000 gigawatts (GW), are expected to operate in Northern Luzon, Northern Mindoro and East Panay.

The 1.98 GW Northern Luzon Offshore Wind Power Project in Ilocos Norte is scheduled to begin operations in 2030, while the 0.990 GW Northern Mindoro Offshore Wind Power Project will follow in 2031.

BEP expects the 0.99 GW East Panay Offshore Wind Power Project in the provinces of Iloilo and Guimaras to start in 2033.

These three projects are expected to generate over 50,000 jobs from construction to operation.

Also recently awarded a green lane certificate was Charoen Pokphand Foods (CPF) Philippines Corp. for its 20 new breeding farm projects with a total investment of P10.55 billion.

CPF Philippines is a subsidiary of Charoen Pokphand Foods Public Company Limited, one of Thailand’s leading agro-industrial and food conglomerates.

CPF will be establishing breeding farms in various provinces across the Philippines, including Nueva Ecija, Isabela, Tarlac, Palawan, Ilocos Norte, Ilocos Sur, South Cotabato, Pangasinan, Southern Leyte, Surigao del Norte and Negros Occidental.

The farms will breed parent stock pigs to produce weaned piglets to be transferred to wean-finish/grow-out farms in various locations until they reach market weight. The projects are expected to generate 1,250 jobs.

“We are proud to support projects that not only bring significant economic benefits but also strengthen our agricultural sector. The green lane certification underscores our commitment to fast-tracking investments that will boost agricultural productivity, create jobs and drive sustainable development across the country’s region,” Special Assistant to the President for Investment and Economic Affairs Frederick Go said.