10 green-lane projects reach operational status, BoI says

TEN out of the 203 projects registered for green-lane treatment have been declared operational, while an additional three are close to operational and 36 being constructed, the Board of Investments (BoI) said. The projects in pre-development number 154.

To date, the projects endorsed by the BoI to the One-Stop Action Center for Strategic Investments since February 2023 are valued at P5.168 trillion.

“The data reveal a strong pipeline of early-stage projects, with renewable energy (RE) leading at 134 in pre-development but only three reaching operational status. Food security projects show steady progress, while digital infrastructure and manufacturing have fewer projects overall,” the BoI said.

“With just 10 fully operational projects, the data suggest many are still in transition, highlighting potential bottlenecks in later stages,” it added.

Established through Executive Order No. 18 in February 2023, green lanes were constituted to enhance ease of doing business by accelerating and simplifying the permit and licensing processes for investments deemed strategic.

“If all the projects listed can effectively meet their business requirements based on the firm’s time frame, they have the potential to attract more significant investment, particularly in the supply chain,” according to Ernesto C. delos Reyes, Jr., BoI director for Investment Assistance Service.

“This could foster a surge of trust and confidence among investors. The excitement surrounding this initiative could be a game-changer for everyone involved,” he added.

The RE industry accounted for 159 of the green lane-certified projects, valued at a combined P4.75 trillion. These are projected to create 269,751 jobs.

RE has attracted a surge in investment after full foreign ownership was allowed for the industry, previously capped at 40%. — Justine Irish D. Tabile