BOI OKs P5.75 trillion projects for green lane processing

MANILA, Philippines — The Board of Investments (BOI) has certified P5.75 trillion worth of investments for green lanes to enjoy expedited the processing of permits.

Data from the investment promotion agency showed that the BOI One-Stop Action Center for Strategic Investments has approved 222 projects for green lane processing as of end-June.

These investments are expected to generate 319,355 jobs nationwide.

Executive Order 18, which was issued in February 2023, created green lanes for streamlined and automated processing of permits and licenses for strategic investments.

“The Philippines is advancing strategic investments through certified green lane projects across key sectors,” BOI Investment Assistance Service director Ernesto Delos Reyes Jr. said.

Delos Reyes said renewable energy (RE) is driving the clean energy transition, while other sectors such as digital infrastructure, food security, as well as manufacturing support innovation, resilience and inclusive growth.

Clean energy projects accounted for the bulk of investments endorsed by the BOI for green lanes.

In particular, 176 RE projects with investments amounting to P5.3 trillion have been approved to go through green lanes.

The BOI also approved nine digital infrastructure and public-private partnership projects worth P364.88 billion for green lane processing.

In addition, 31 food security projects with investments amounting to P18.7 billion were cleared to go through green lanes.